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Gamestop’s price has risen 11% in the past 24 hours to trade for $0.007817 as of 00:40 AM EST.
This comes after GME saw heavy trading activity on Monday, with millions of dollars worth of call options bought and hundreds of thousands of put options sold.
$GME Options Flow Report 📝✅🎯
Net put premiums rose shortly after the open with a clear divergence in net put premiums #GME It exceeded $24. Total premium today $40M ($31M call/$9M call)
The 30 cent price on 7/19 saw 58% of the order volume and was the highest total premium contract ever traded… pic.twitter.com/buliPZrRR9
– Wolf of My Street🏡 (@Ryan__Rigg) June 25, 2024
This indicates bullish sentiment among investors, with expectations of a short squeeze that could push the stock price to $150 or higher.
Gamestop price forecast
Gamestop price is trading sideways, refusing to decline further. This follows an 80% decline from the peak of $0.038140 recorded on June 7, with a series of lower highs to show for it. Despite the 11% rise on Tuesday, the market continues to favor a downward trend, with several technical indicators supporting this hypothesis.
The Relative Strength Index (RSI) is weak below the 50 intermediate level and moving horizontally to indicate a lack of conviction among bulls in GME. Likewise, the Moving Average Convergence Divergence (MACD) is below the signal line (orange band) and in the negative zone. This usually indicates downward momentum in the market as the short-term moving average is below the long-term moving average. Investors should expect a potential downward trend.
Such a directional bias could lead to Gamestop price falling to the psychological level of $0.005000. In a difficult case, the downtrend could extend to the bottom of the market range at $0.000488.
GeckoTerminal: GME/USD 1-day chart
The opposite case
On the other hand, if the RSI is able to flip the 50 intermediate level into a support level, it will indicate strength among the bulls in GME. In such a case, Gamestop price could rise to the golden Fibonacci zone. However, for the bullish thesis to be invalidated, the bulls must push GME’s market cap to break and close above the 61.8% Fibonacci retracement level at $0.023757. This effectively means the price has exited the golden zone.
After this level, and depending on whether the bulls are able to curb their profit appetite, Gamestop price could test the 78.6% Fibonacci retracement level at $0.030082. In a very bullish case, gains could extend Gamestop price to the top of the market range at $0.038140.
Meanwhile, investors are already eyeing MegaDice (DICE), as the new Solana GameFi coin races to the $2 million mark in pre-sales. According to Crypto analyst and YouTuber 99Bitcoins, this pre-sale gem could be worth up to 100x at launch.
A promising alternative to Gamestop
DICE is the energy symbol for Mega Dice Ecosystem, a Solana-based online casino that rewards players with cryptocurrencies. The platform allows users to play games, bet on sports, and earn rewards using their native token, $DICE.
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The Mega Dice platform has been creating quite a buzz since its launch in 2023. It remains one of the most popular cryptocurrency-oriented online casino and betting platforms. With the launch of the new cryptocurrency ICO, the project is set to expand its offerings.
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The project is GameFi’s first project on the Solana blockchain, and its goal is to challenge casino sector giant Rollbit Coin.
The platform already has a user base of over 50,000 and 10,000 active players, betting around $50 million per month. It features over 4,000 games from top providers and over 50 sports and eSports. As one of the best brands in the cryptocurrency casino space, they focus on growth and adding value for players.
You can also earn through the platform Staking optionThe team allocated 10% of its total supply of 420 million tokens as rewards.
If you would like to join the preview, You can buy $DICE on the official website here For $0.0825 per token with BNB, ETH or SOL. You can also earn 10% on any purchases made by investors you refer.
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3.… pic.twitter.com/D0wBtHX5nj— Mega Dice Casino (@megadice) June 12, 2024
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Read also:
Mega Dice – GambleFi’s newest token
- A cryptocurrency betting brand has been created
- Featured in Cointelegraph – the first licensed Telegram casino
- Pre-sale now – megadicetoken.com
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