Taki Price Analysis – Taki Still Up 180% After Surging 600% In December as Ecosystem Approaches 1 Million Users

Key takeaways

• Taki is a token-powered social network that rewards users for engaging with content and creating user coins.
• Taki surged by 650% in December 2023 after announcing partnerships with Smart Layer and Rally Protocol, and reaching over 850,000 users.
• Taki is trading in a descending triangle pattern and awaits a breakout to resume its bullish trend.

Despite falling from its December 2023 peak, social network project Taki is still up by an impressive 180% over the past month as it continues to straddle support around $0.02.

The cryptocurrency had surged as much as 650% in the final days of 2023, allowing it to reach as high as $0.06 in the process.

A string of partnerships and an incredibly active platform allowed Taki to surge in December as its ecosystem approaches the 1 million user milestone.

Taki is now trading in a consolidation period as it forms a descending triangle pattern as traders wait for a break toward the upside for continued bullish price movement.

Taki Sees Exponential Growth as Engage-to-Earn Platform Approaches 1 Million User Milestone

Taki, the engage-to-earn token-powered social network powerhouse, recently underwent an exponential surge in December after exploding by over 600% to reach as high as $0.061.

One of the driving forces behind the surge was a string of partnerships between Taki Games and high-profile companies. 

For example, Taki Games announced a partnership with Smart Layer in December 2023 to launch “Pac Cat,” a Web3 gaming app. The game will be released on Taki Games’ Bored Button App, which has already garnered over five million downloads through its expansive range of games.

In addition to the partnership with Smart Layer, Taki Games partnered with Rally Protocol to use RallyMobile and RallyTransact SDKs to bring a new future to mobile Web3 gaming. The partnership is set to bring new technology to developers that prioritizes security and privacy.

RallyMobile also provides solutions that enable non-custodial wallets and gasless transactions, helping new players be onboarded seamlessly.

Another driving force behind the rally is that Taki continues to build, almost attracting 1 million users to its platform.

The platform launched to more than half a million beta users in August 2022 and has continued to grow and attract new users ever since. According to the project’s website, Taki now officially has over 850,000 users with almost 60 million $TAKI locked on the platform – worth around $1.33 million at the time of writing;

Taki (TAKI) Price Analysis

TAKI/USD – DAILY CHART – MEDIUM TERM

TAKI/USD – 4HR CHART – SHORT TERM

What has been going on?

The daily chart provides a comprehensive overview of Taki throughout 2023. We can see that the market was relatively flat throughout the entire year before exploding higher in the final days of the month. The price surged by an enormous 650%, allowing it to reach a high of $0.061 before topping out. The 4-hour chart provides a better perspective of what’s been occurring since the price surge. It shows that Taki is now trading in a period of consolidation as it forms a descending triangle pattern. 

The market has established solid support at the $0.2 level, which will be the level to defend to prevent further declines. Traders are now eagerly anticipating the breakout direction of the market as they wait for the triangle’s resolution.

Taki (TAKI) price short-term prediction: BULLISH/NEUTRAL

TAKI still has to be considered bullish following an incredible 650% price surge. However, on a technical basis, Taki is currently neutral until the current triangle pattern is resolved.

The market would still need to break beneath $0.02 and fall below the $0.015 support before being considered slightly bearish.

A bull market would commence on a positive breakout of the triangle and would be confirmed with a break above $0.0285.

Where can we go from here?

Looking ahead, a break above the upper angle of the triangle would first see the market meeting resistance at $0.025, $0.028, and $0.03.

Beyond $0.03, added resistance lies at $0.033 (bearish .382 Fib), $0.0377 (bearish .5 Fib), and $0.042 (bearish .618 Fib). If the bulls continue to push Taki back beyond $0.05, added resistance lies at $0.056 and the 2023 high at $0.061.

On the long-term chart, resistance above $0.062 lies at $0.0756, $0.0832, and $0.094. On the other side, if the sellers push Taki beneath the established support at $0.02, there’s still plenty of support toward the downside to allow for a rebound.

The first level of support toward the downside lies at $0.015, which served as a pit-stop during the late December surge. Before that, there was support at $0.0187, which forms the liquidity sweep witnessed in the first few days of January. This is followed by support at $0.01 and $0.0081.

What are the technical indicators showing?

The RSI indicates that the momentum is currently neutral, indicated by the period of consolidation. However, with the Bitcoin ETF set to propel Bitcoin and the entire crypto industry into another bullish cycle, the sky is virtually the limit for Taki. With the momentum already gathered as it approaches a 1 million user base, Taki is set for exponential growth in 2024.

Buy/Sell Taki