YEREVAN (CoinChapter.com) – Mobox (MBOX) price traded at $0.38 on Dec 29, after a 6% intraday gain. The recent uptick followed an overall bullish quarter, where MBOX pared its Q2 and Q3 losses, rising 60% quarter-to-date.
MBOX Technicals Point to a 15% Rise Ahead
Moreover, the daily chart flashed a Golden Cross between the 50-day exponential moving average (EMA-50; orange wave) and the 200-day EMA (blue). In detail, the golden cross occurs when a short-term MA crosses above a long-term MA. It signifies a bullish phase ahead.
Notably, the formation is a RESULT of the price action, not the underlying CAUSE. However, it could provide additional support for the price action in case of a correction. If a bullish phase follows, the next MBOX price target will stand at the previous resistance of $0.45, or another 15% up from the current value.
However, it is worth noting, that despite recent gains, Mobox coin still traded over 97% below its all-time high of $15.7 in Dec 2021. Let’s see what Mobox is and what pushed MBOX forward.
What is Mobox?
MOBOX is an NFT gaming ecosystem built on the Binance Smart Chain. It uniquely combines yield farming in decentralized finance (DeFi) with gaming NFTs, creating a free-to-play and play-to-earn gaming model. This ecosystem allows for user participation in various games ranging from NFT farming to yield farming and blockchain gaming.
In the Mobox ecosystem, users can stake in liquidity pools or use MOMO NFTs to earn staking rewards paid in MBOX, its native currency. Staking MBOX tokens can also reward users with unique MOMO NFT Mystery Boxes. The platform consists of three main components: the NFT marketplace, an NFT creator, and a game creator.
MBOX also has various uses within the ecosystem. It can be used as an in-game currency for purchases, for governance by token holders who can submit and vote on proposals, and for liquidity mining. MBOX tokens can also be staked to earn rare MOMO NFT boxes.
As of Dec 29, the Mobox system is temporarily shut down for maintenance.
