Paradox metaverse: PARADOX on all-time low, can it recover?
- Paradox Metaverse: PARADOX coin has fallen since the start of the year and is currently at an all-time low.
- How users can earn PARADOX coins via playing the game
- The MACD gave a small breakout for the day, where are the support levels for stop-loss?
About Paradox Metaverse:
Paradox Metaverse, founded by Amio Talio in February 2020, is a play-to-earn (P2E) AAA game built on unreal engine 5. The game includes the free-roam metaverse where the users are expected to interact and socialize with others, they will also get chances to complete missions & milestones, and upon that, they can expect to earn $PARA coins.
PARADOX Coin Previous Price Action and Forecasting
PARADOX’s Previous Price Action
In the first year, the PARADOX price closed at $0.0382, The all-time high of the coin was reached in Jan 2023 at $0.04188, Since then & months and more have passed and the coin is in a constant downtrend with no signs of reversal.
PARADOX’s Current Price Action
4h is the only time frame where any significant support and resistance levels can be made
Support: The current support for the coin is weak because of the long-term bearish momentum. The level is at $0.000434 with very less volume in the range,
The second support is made at the level of $0.000379, which is a round of support as the coin is currently at an all-time low.
Resistance: The resistance levels are standing strong with lots of volumes in place, The immediate resistance is at the level of $0.000634, and resistance 2 is at the level of $0.000702
The MACD line has made a cross over the Signal line at the start of this day, 7th August 2023, we can see the effect of this pattern on the charts as well
The RSI is vital for the current day, with a level of 63, it seems to almost touch 70, if it does then some trend reversal can be seen.
The price on the 4h time frame has crossed the 50 EMA which was at the level of $0.000496, if the price takes the support of it then a good bullish trend can be seen. The 200 EMA is standing above at the price value of $0.000631
Is PARADOX coin worth buying right now?
The prediction for the medium term will be a big red flag as there is no buying momentum on the coin, It is continuously breaking supports and falling. For the shorter term, it is advised to wait till the price takes support of the 50 EMA If the price also crosses the range of the first resistance, then also a buying move can be made, but the breaking of the opposition in the current trend is unlikely to happen unless a big move arrives.
Paradox Metaverse was founded in February 2020 by Amio Talio, it is a play-to-earn (P2E) game that is built on Unreal Engine 5, the users can free roam, socialize, and earn tokens of $PARA upon completing the missions
The price of PARADOX is in a constant downtrend since January 2023, currently, some supports are made after the coin took off in the start of the day.
Support: $0.000434, $0.000379
Resistance: $0.000634, $0.000702
50 EMA: $0.000496
100 EMA: $0.0000631
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.