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Game Tokens Increase! Will the crypto gaming rally continue this week?
After showing weak price action for a short time, the gaming sector in the cryptocurrency market has seen massive bullish price movements as of late.
This further highlights a high possibility of a resurgence in hype for these altcoins. With the upcoming altcoin season in the cryptocurrency space, will gaming tokens regain momentum and overtake major cryptocurrencies?
Dive in because, in this article, we have covered the top four gaming tokens that have the potential to witness a massive uptrend in the coming weeks in the cryptocurrency market.
Floki Price on the road to a major breakout:
THE Floki price continues to show bullish price action recording a 100% increase in its trading volume and adding 4.58% in the last day. Furthermore, it has gained 30.19% in the past week and 54.10% in the past month and has a year-to-date return of over 680%.
TradingView: FLOKI/USDT
THE Price of FLOKI coins has formed a symmetrical triangle pattern on its price chart and is hovering near its resistance level, indicating increased buying pressure in the market.
Furthermore, the technical indicators, 50/200 day EMA and MACD show positive price action in the 1D time frame, suggesting a bullish outlook for the FLOKI token in the coming period.
If the bulls manage to break out of the resistance trend line, the Floki cryptocurrency would prepare to test its upper resistance level of $0.000350. However, a bearish reversal could push the price towards the lower $0.000 support level in 1990.
The Enjin coin forms a rounded bottom pattern:
With a jump of 10.37% in the last 24 hours and a 230% increase in trading volume, Enjin Price has shown a strong bullish return in the cryptocurrency market. Additionally, the ENJ cryptocurrency has gained 17.25% this month, indicating a positive outlook for the altcoin this week.
TradingView: ENJ/USDT
After showing bearish price action since early March, the ENJ price has formed a rounded bottom pattern, highlighting a significant increase in bullish sentiment for the altcoin in the cryptocurrency market.
Furthermore, the RSI is hovering near its overbought range with the SMA consistently supporting the price chart on the 1D time frame, indicating a steady increase in overbuying pressure.
With a bullish breakout, the Enjin coin price could head towards the upper resistance level of $0.4760. Conversely, negative price sentiment could cause the ENJ token to plummet towards its lower $0.33 level.
GameStop (GME) Price Tips An Outstanding Rally!
Despite trading in a closed range between $0.00370 and $0.00569 and seeing a correction of around 29% over the past seven days, the GME coin price increased by 16.08% over the past day, indicating a high possibility of a bullish reversal.
TradingView: GME/USDT
With the GME token forming a symmetrical triangle pattern on the 4H time frame and about to test its resistance trendline, GameStop price volatility in the crypto space is steadily increasing.
The Moving Average Convergence Divergence (MACD) records a steady increase on the chart with its averages suggesting a bullish surge. Furthermore, the 50-day EMA is on the verge of registering a positive crossover, suggesting positive price action in the coming times.
If GME price breaks out of the triangle pattern, the altcoin will prepare to test its upper resistance level of $0.0099. Negatively, in case of a bearish reversal, the GameStop token will retest its crucial support trend line.
Notcoin (NOT) Price Analysis:
After showing weak price action for a short period, the NOT coin price has successfully regained power and registered an increase of 57.09% in the last 30 days. Furthermore, the Toncoin-based crypto token has seen a 401% increase in trading volume over the past 24 hours.
TradingView: NOT/USDT
The Relative Strength Index (RSI) successfully retested its midpoint, heading towards its overbought range. On the other hand, the SMA suggests a potential bullish convergence, suggesting that the Notcoin price will continue to gain value in the coming times.
If the bulls continue to dominate the market, the NOT price will prepare to retest its upper resistance level of $0.00880 in the coming time. However, if the bears get the better of the bulls, the price will plummet towards the lower support level of $0.00675.