GensoKishi Metaverse Price Prediction – MV Token Pumping Time to Buy?
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GensoKishi Metaverse (MV) token has pumped over a remarkable 27% in the last week and is now trading at $0.25.
A recent bullish tweet from the @Bybit_Official exchange seems to have been the catalyst by announcing that GensoKish’s in-game stablecoin, ROND, has been listed as a trading pair (ROND/USDT).
📢 ROND/USDT is now LIVE for Spot trading! @genso_meta— Bybit (@Bybit_Official) September 29, 2022
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This bullish news is also reflected when looking at the MV/USDT trading volume on the Bybit centralized exchange. On Bybit, Trading volume is now up to 54.24% which means Bybit is gathering the most liquidity and has market dominance for MV token following the recent tweet in comparison to other CEXs.
GensoKishi Metaverse Token Price Prediction
From a technical analysis perspective, over the recent weeks MV token has printed bullish price action.
However, when zooming out on the price charts GensoKishi Metaverse token is still down by 84% from prices back in April 2021 when MV token traded at $1.60.
GensoKishi Metaverse token has a very long road to pave in order to achieve a full recovery in price.
Sometimes exchange listings can simply see performance similar to a ‘buy the rumor, sell the news’ event, meaning a transient surge in price before a potential correction or inception of a new downtrend.
The above chart displays the recent euphoric pump for GensoKishi metaverse token. Currently, the price action is at risk of printing a bearish reversal pattern known as a double top on the charts.
Should the formation be complete and the neckline (support level) of $0.245 be broken, we could see negative price continuation down to the $0.231 support level.
On the other hand, we could see this particular move invalidated if the bulls can gain enough momentum and potentially retest the $0.27 price level.
Coinmarketcap states that GensoKishi Metaverse (MV) token has a market capital of $429 million and is rank #212 versus other cryptocurrencies at present time.
There is not a great amount of supporting historical data for MV token, but with enough bullish momentum it seems that a market capital of $700 million could be recovered by later this year.