Open Campus (EDU) Price Prediction: A New Crypto In The Race

• EDU price is currently trading at 0.56747 while witnessing a return of -1.06% during the intraday session. 
• EDU’s IEO (initial exchange offering) was launched on April 28, 2023.  
• The six-month return of EDU price is $1038.14%, and the three-month return is -46.75%.

Open Campus IEO was launched on April 28, 2023, with a worth of $2.5 Million EDU tokens (at an exchange rate of 1 EDU = 0.05 USD) distributed among the participants. Open Campus is a Web3 education protocol that focuses on creating, distributing, and promoting educational content for communities that is valuable for the broader society.

The EDU price revealed a short-term pullback on the price action graph since May 28, 2023. Open Campus price achieved an all-time high just after the launch of EDU’s IEO on April 29, 2023. The market sentiment has been in a bearish trend from there.  

Current Scenario of Open Campus Cryptocurrency

Since late May, EDU price was downgraded by about 65% in just three months, from a high of $1.55000 to the recent low of $0.52000. The EDU price is trading at $0.56824 with a return of 1.06% in the past 24 hours. However, the recorded weekly, monthly, and three-month return is witnessed in the negative denomination by -1.71%, -18.92%, and -46.75%, respectively.

The future sentiment will depend on the next candle. If it can break the last candle high, then the EDU price might gain a hike to the 0.65000 level. On the contrary, if the current candle can break the previous candle low, the price might potentially melt toward the $0.50000 level as the dominance of bearish momentum in the market sustains.

Technical Analysis of Open Campus (EDU)

The relative strength index (RSI) trades at 40.21 during the intraday session. RSI denotes a rise in bearish momentum in the market as the EDU price is depleting on a daily basis.

The Chaikin Money Flow (CMF) score is -0.06 during the intraday session, indicating slight weakness with a stronghold of bears in the market.

The Open Campus price is currently trading below the 20, 50, and 100-day EMA, indicating weakness in the market. Hence, the participation of sellers increased in the market. 

The long and short ratio is 0.9516, with shorts at 51.24% and longs at 48.76%, representing the pressure from the sellers in the market.

Conclusion

EDU token is a cryptocurrency that operates on the Ethereum platform. Open Campus focuses on educational content products that can be tokenized in NFTs. Hence, educators can benefit from versatile revenue-sharing strategies. It also adopted one of the top 10 kids-focused Apps called TinyTap. However, the market sentiments of EDU price are in a bearish trend. Investors should look for selling opportunities as the indicators reflect the same. 

Technical Levels 

• Major Support: $0.52894 and $0.54300
• Major Resistance: $1.69500 and $1.55000

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.