Crypto prices have begun pushing ahead again after a minor pullback last week. Currently, the best-performing top 20 cryptos are Cardano and Chainlink, up 3.84% and 6.78% in the last 24 hours, respectively.
Meanwhile, emerging altcoin TGC token is also gathering significant momentum after raising $2.6 million in its presale and receiving endorsements from prominent industry figures.
ADA and LINK Near Local Highs After Intense Pumps
Cardano and Chainlink are nearing their local resistance levels after strong pumps this last month. This is a pivotal moment for the two cryptos, as a break above could represent another explosive move to the upside, but a rejection could result in a deep retracement.
Cardano is trading at $0.39 after finding resistance at $0.4. Currently, the main concern for ADA is that it is forming a head and shoulders chart pattern. This could indicate a local top if a break below the neckline (range support) occurs.
However, a higher high would also represent an uptrend continuation. Alternatively, Cardano could consolidate its current range, trading between $0.34 and $0.4.
RektCapital recently highlighted this, albeit the analyst plotted the support at $0.25, taking a longer-term outlook at Cardano’s “macro range.”
Moving to Chainlink, the price experienced a strong selloff last week and began a downtrend after creating lower lows and lower highs on the 4-hour chart.
Its 6% pump has pushed it back to the recent lower high but has yet to break it. This is a critical level for Chainlink since a rejection could cause a downtrend continuation,
X analyst deg_ape noted the significance of its current level, highlighting that traders must “be ready for both scenarios, $25 or $13.” The analyst was alluding that its next move will considerably impact its near-term direction.
Ultimately, traders must be aware that a move to the downside may follow for both Cardano and Chainlink. Therefore, it is essential to exercise patience and await a breakout confirmation.
However, one crypto showing significantly bullish momentum is TG Casino. It is currently undergoing a presale, meaning investors can get in at its lowest price, and it will immediately enter price discovery once it launches on exchanges.
New GambleFi Token $TGC Raises $2.6M and Is Backed to Pump After IEO
TG Casino is an anonymous crypto casino launched exclusively on Telegram. It is currently undergoing a presale, having raised $2.6 million in eight weeks.
Countless top media outlets like Coinspeaker, Cointelegraph, and Crypto News have covered the project since its launch.
TG Casino’s hype mainly derives from its revolutionary use case, supercharging the benefits of crypto casino through Telegram’s technology while adding robust security and compelling tokenomics.
Launching on Telegram makes TG Casino faster, accessible to Telegram’s one billion users, and more secure thanks to its end-to-end encryption.
Furthermore, the project has several other notable security mechanisms like a KYC’d team, a smart contract audit, and is one of the only licensed and regulated Telegram casinos.
Meanwhile, the $TGC token provides advantages like 25% cashback on losses, a 216% staking APY, free rewards, and access to exclusive rooms and games.
This provides a significant degree of utility to the token, enabling its price to grow with demand for the platform. However, TG Casino also boasts a buyback mechanism that will repurchase $TGC tokens with a portion of the platform’s revenue.
It will burn 40% of the tokens and allocate 60% to staking rewards, bolstering its supply and demand dynamics.