Anime lovers, Gaming fans, and supporters of crypto alike will find something new and better to love about the Luffy Token, the comprehensive cryptocurrency that aims to provide an extensive ecosystem developed to satisfy the needs of the users in multiple ways.
Luffy token allows its users a line-up of opportunities to captivate with the platform, whether it be through the earning of the tokens using a flexible and long-term staking program with an Average Annual Percentage Rate (APR) of up to 15% or more by participating in the gaming world through Land of Kai which is a 3D open-world game that gives a strong story mode.
The Luffy Token also provides its users with a crystal-clear view of the token supply through the Luffy Burn Dashboard, which tracks the real-time burning of the tokens. For those who are looking to trade their tokens, Luffy Token offers its own Luffy Swap which is a decentralized exchange that provides users with a free of tax charge trading experience.
The present circulating supply of the token is 100 Billion LUFFY. The trading volume has declined by 43% in the last 24 hours. The market capitalization of LUFFY is $5.56 Million.
Technical Analysis Of LUFFY Token (4 Hour)
The 4-hour chart of the LUFFY token shows that the price is in a consolidation zone where the price is largely trading between the levels of $0.0000450 to $0.0000475 (Support) and $0.0000520 to $0.0000550 (Resistance). The price is also trying to move above the 50-day EMA but getting rejected by the bears. The last time the price gave an upward move was on 23 Oct, when it reached the $0.0000750 level.
To break the sideways movement the bulls have to stay strong and cross above the 50-day EMA maintaining the movement above it. The volume has to be rising again for a major upward movement in the price levels. After breaking the consolidation phase, the price will aim for its first target of $0.0000600 and the next at $0.0000665.
However, If the token gets rejected again from the 50-day EMA or the resistance level of $0.0000520 to $0.0000550, then the price may take support again from the support level of $0.0000450 to $0.0000475. Losing the support of $0.0000450 to $0.0000475 and sliding down to the support level of $0.0000401.
Indicators About The Price Of LUFFY Token
Relative Strength Index (RSI)
The RSI is moving at 51.85 points. It is above the neutral level 50 which indicates bullish strength in the price. The movement of the RSI also shows the consolidation in the price as it is just at the neutral level. The upside movement of RSI indicates an upside movement in the price.
Stochastic RSI
The Stoch RSI is moving at 51.74 points showing neither oversold nor overbought. It is also showing a neutral move in the price which favors the consolidation in the price.
LUFFY LIVE CHART
Conclusion
The Luffy Coin project is making good progress and has several exciting developments in the pipeline. Investors should keep an eye on this project in the coming months and years. The major movement upside or downside will depend upon the further price action in the token’s market.
Technical Levels
Support Level: $0.0000450 to $0.0000475 and $0.0000401
Resistance Level: $0.0000520 to $0.0000550 and $0.0000600
Disclaimer:
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2023/11/06/luffy-price-analysis-can-this-anime-token-make-a-new-history/