Morpheus.Network has been a few knights in shining armor rescuing Degens from the bloodbath this bear market. The token reached its ATH when the market was busy weeding out worthless projects during the bear phase – the fact alone evidences the prowess of the project.
The token has started surging again this time. A notable rally of 38% between late October and early November. The favorable turn of events comes in the wake of the platform solidifying its stature as a utility-driven, fundamental-backed middleware platform for supply chains across the globe.
Its native token, MNW, serves the dual purpose of governance and utility token and powers its Masternode program. MNW has seen a 4x rally in the past 10 months and 30% YTD gains. The token is touted for more heights. To what extent – Let’s analyze.
Morpheus.Network: The Supply Chain Behemoth Web3 Awaits
Brief Intro: Morpheus network combines many emerging techs like IT, IoT, RFID, blockchain, AI, and ML to power digital twins of supply chains on the blockchain. It is SAP-certified, cloud-agnostic, and blockchain-agnostic. This means the platform can be a compatible digital companion for almost any supply chain network.
Partnerships: It has achieved great milestones and partnerships, including its collaboration with Microsoft Azure, IBM, Google Cloud, and Amazon AWS. Morpheus.Network recently partnered with CocaCola and Sombeys to manage their supply chains over the blockchains.
Awards: Its list of awards includes the coveted ‘Winner of Gulftainer ‘Future of Ports’ competition,’ winner of the FOOD LOGISTICS 2022 Top Software & Technology Providers awards, and the ISCEA PTAK Award for Supply Chain Excellence at the SCTECH2021 conference, and many more.
Utilities: With one of the most successful Masternode programs offering 18% staking APY to validators, Morpheus’s increasing validator base gives it the transparency, traceability, and efficiency of decentralization. A major upgrade to ZK rollups is awaited, making the platform even more privacy-focused, scalable, and efficient.
Where Is MNW Headed For?
After touching its bottom at $0.92 in August, the token rallied by 38% and is all set to touch the previous high at $1.59. If MNW continues its momentum, it won’t take long to touch its even higher previous highs of $1.69 and $1.92 in May this year. MNW is still down by 40% from its 2023 ATH, but the token is in rapid recovery mode.
Let’s take a glance at the technicals.
MNW has been creating a series of higher lows after successfully testing and turning the market resistance of $1.15 into support. The token is trading well above its 20-day SMA and 50-day SMA. Its RSI stands neutral at 52, but VWMA (Volume weighted moving average) marks a buy signal and the gaining market momentum.
MNW is trading safely above the descending trendline and attempting to test the first resistance at $1.92. $0.41 is the immediate support if MNW loses momentum.
Price Prediction suggests an upside potential of $3.63 for MNW in 2025. Given MNW’s current pace, this target seems achievable. Grab your chance or wait and see MNW charting even higher gains as BTC halving edges nearer.
The post Morpheus.Network Continues Its Upswing With a 38% Rally – Where Is MNW Headed For? appeared first on Analytics Insight.
Source: https://www.analyticsinsight.net/morpheus-network-continues-its-upswing-with-a-38-rally-where-is-mnw-headed-for/