- The Pixels crypto has less than 15% of its total supply in circulation.
- The crypto was released less than a month ago.
Pixels (PIXEL) is a cryptocurrency token integral to a social web3 game on the Ronin Network, featured in the Binance Launchpool. It bridges Ethereum and Ronin blockchains, facilitating user engagement and ownership in a community-driven gaming environment. Luke Barwikowski spearheads the project, emphasizing collaborative development and player interaction.
The fear and greed index of the Pixels crypto is at 81, which represents extreme greed among investors. The current market cap dominance of the token is 0.02%, while the crypto’s market cap is worth $613.77M.
The market cap of the Pixels token has advanced by 14.15% in the last 24 hours, while the traded volume for the token has witnessed a decline of 5.1%. This further results in a traded volume of $299.357M.
The crypto was launched for the first time on February 19, 2024. Furthermore, the PIXEL crypto hit its all-time low price of $0.4691 on February 19, 2024. Since then, the trading price of the token has advanced by 68%.
Pixels Token Supply Overview
The Onchain market cap of the token is $3.959B, followed by a circulating supply market cap of $610.88M. Moreover, the circulating supply of crypto is 771.041M PIXEL, which is 15% of the maximum supply of the token.
The maximum supply and the total supply of the token are the same, resulting in 5.0B PIXEL.
Pixels Crypto Derivatives Analysis
The open interest in the Pixels crypto has been consistently advancing over the last few days. Even in the previous 24 hours, it has witnessed an advance of 6.05%, resulting in $96.77M.
Despite this, the derivatives trading volume has declined by 14.5%, resulting in $463.18M. Also, the long/short ratio of the crypto is 0.9161. The long liquidation for the crypto is worth $294.29K, and the short liquidation for the crypto is $257.10K.
PIXEL Crypto Technical Analysis
The PIXEL crypto is a new cryptocurrency that was released a few days ago. Following the current price action, the price of the PIXEL token was consolidated inside a range for 18 days and then broke out above the zone.
The PIXEL token price further surged by 50% and is currently retracing to the breakout levels. If the token’s price further breaks above the last swing high, a further surge to higher levels in the crypto might be witnessed.
PIXEL/USD Chart by TradingView.com
A fresh golden cross of the 50-day and the 200-day EMAs is formed on the PIXEL crypto’s 1H chart, indicating the crypto’s buying sentiment.
The MACD also supports the bulls by trading above the zero level, followed by a bullish crossover between the MACD and the signal line.
The RSI is also following a bullish cycle, trading above the 50 level, and is taking support at the 14-day SMA. The following behavior indicates a slow and steady advance in the price of the crypto.
Summary
Despite the flat trading volume, PIXEL crypto, integral to a social web3 game on Ronin Network, maintains momentum. With only 15% of its total supply in circulation and a recent price surge of 50%, it exhibits bullish indicators, including a golden cross, MACD bullish signal, and RSI above the 50 level, suggesting further price appreciation.
Technical Levels:
- Support levels: $0.55450 and $0.69840
- Resistance levels: $1.0380 and $1.0382
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.