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ALEX Lab is up nearly 80% in 24 hours and its buying and selling quantity soared 2,080% with market cap surging 77% to greater than $70 million.

So what’s behind the bullish momentum and the place is it headed subsequent?

ALEX Worth Soars 138% – The place Subsequent?

ALEX is hovering at round $0.1099. The 50-four-hour Easy Transferring Common (SMA) is at $0.0639 supplied a launchpad for ALEX Lab’s surge, which took off, staging a 138% rally to set a swing excessive at $0.152. This uptick noticed the worth of the “Bitcoin Uniswap” token flip the 100 SMA, the 200 SMA, and the $0.1 psychological degree from resistance to assist. 

At press time, the worth was turning down because the 50% Fibonacci retracement degree at $0.1078 supplied speedy assist. If the bullish momentum is sustained, ALEX could rise increased with the primary line of resistance rising from the 61.8% Fibonacci degree at $0.1183. Further limitations are discovered on the 78.6% extension degree at $0.1331 and the $0.15 provide zone. 

Larger than that, ALEX may retest right now’s intraday excessive at $0.1519 or rise even increased towards the 123.6% Fibonacci degree at $0.1728.

ALEX/USDT 4-Hour Chart

ALEX Price chart -August 1
TradingView Chart: ALEX/USDT

Other than the continued bullish sentiment. ALEX’s constructive narrative was supported by the up-facing shifting averages and the upward motion of the Relative Energy Index (RSI). The worth energy at 81 strengthened the character of the bull’s grip on the worth.

Additionally validating the bullish thesis for ALEX Lab’s worth was the upward trajectory displayed by the Transferring Common Convergence Divergence (MACD) indicator. Observe that this trend-following oscillating indicator had despatched a name to purchase the crypto on July 30 when the 12-period Exponential Transferring Common (EMA) crossed above the 26-period EMA, suggesting that the market situations had flipped in favor of the upside.

On the flipside, the RSI confirmed that ALEX was massively overbought. As such, revenue taking could take heart stage as purchaser exhaustion units it. This might prolong the continued correction to provide a four-hour candlestick shut beneath the 50% Fibonacci retracement degree at $0.1078.

Key ranges to look at on the draw back are the $0.1 psychological degree, the 23.6% retracement degree at $0.0846, and the SMAs mendacity throughout the $0.0757 and $0.0665 demand zone. A return to the $0.0638 degree would fully undo all of the beneficial properties made within the present rally and invalidate the bullish narrative. 

What’s Alex Lab Token?

ALEX is a brand new token that’s native to ALEX Lab, a platform ceaselessly known as the “Bitcoin Uniswap” because it gives a variety of decentralized monetary (DeFi) providers constructed on the Bitcoin community by Stacks.

ALEX Lab stands out by providing quite a lot of compelling options, together with a launchpad for liquidity provision to new tasks, fixed-term and fixed-rate lending and borrowing providers that remove liquidation dangers. It additionally offers a complicated order-book Decentralized Change (DEX) supporting restrict orders and facilitating NFT auctions, and engaging yield farming alternatives.

Regardless of being comparatively new, ALEX has proven spectacular potential, main some buyers to label it as essentially the most undervalued token they’ve come throughout. 

The group’s revolutionary know-how and powerful fundamentals have acquired reward for driving this optimistic sentiment. 

Consequently, ALEX has already secured a big place within the portfolios of some buyers. 

One fashionable crypto analyst, Wolf of All Streets, positioned ALEX amongst his “Implausible 5” in a June 28 Twitter put up, now X. He tweeted yesterday that it was time for ALEX, urging his followers to all the time be affected person when investing in crypto as a substitute of “chasing scams pumps and pauly’s liquidity grabs.” 

However within the quickly altering panorama of cryptocurrencies, the destiny of ALEX Lab stays unsure, and solely time will inform whether or not it maintains its enchantment throughout the crypto group or just fade into the ocean of different digital currencies. 

At current, the outlook seems promising for ALEX and its buyers, however the true course of its journey will unfold with time.

Within the meantime, buyers may additionally contemplate one other new cryptocurrency that’s grabbing investor consideration as a result of a powerful efficiency in presale. 

ALEX Different

As soon as such crypto is Chimpzee (CHMPZ).

Chimpzee 1500x500

CHMPZ is the native token for the Chimpzee ecosystem, an modern crypto undertaking that made headlines with its ICO, elevating a big $650,000. Not too long ago, the undertaking achieved a big milestone by elevating greater than $1 million in presale. In gratitude for the overwhelming group assist, the undertaking has initiated a ten million CHMPZ airdrop, with solely 7.905 million airdrop tokens left on the time of writing. 

Chimpzee permits customers to make a constructive affect on the surroundings and contribute to animal conservation whereas incomes earnings. There are a number of methods to earn earnings by this undertaking, together with CHMPZ token buying and selling, promoting earned CHMPZ tokens, staking Chimpzee NFT passports, receiving a share of NFT market buying and selling charge income, and taking part in game-based challenges.

The undertaking is strongly devoted to charity and allocates a portion of its tokens for this goal. Particularly, these proceeds are directed towards nature preservation and combating local weather change.

Go to Chimpzee right here to be taught extra concerning the undertaking and take part within the presale.

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