Key Voxies (Voxel) Coin Takeaways:
- Voxies, an RPG game on Ethereum blockchain, has surged around 1,600% in just a week.
- The jump comes after Binance announced listing of Voxel Token.
NEW DELHI (CoinChapter.com) — VOXEL, the native token of Voxies Tactics, saw its prices jump over 3,300% after launching on the world’s largest crypto exchange Binance.
Later, the Voxel coin price was corrected by nearly 50%. However, the token is still up by nearly 1,600% from its launch price of $0.2. The Voxel token is rose back in the early hours of Dec 19 to register a new swing high on its 1-Hour (1H) charts. Voxies price is charting lower highs as it struggles to move above a descending trendline.
The lower highs also indicate weakening investor interest. At present, the Voxel token faces immediate resistance at $3.1, near its 100-1H EMA line. If Voxies plans to break above the descending resistance, traders must push VOXEL prices above the $3.3 price level.
A break above descending trendline would likely help VOXEL prices start an uptrend. In addition, the Voxies token has immediate support at $2.9. If Voxies prices fail to move upwards, VOXEL would likely drop to $2.8 before recovering. The Voxies token’s 50-1H MA trendline provides support near the $2.8 price level.
Meanwhile, the momentum oscillator MACD is currently forecasting bearish signals for the Voxies token. Bars on the MACD histogram are contracting, indicating that the MACD line (difference between 12-day and 26-day EMA) is moving upwards towards its signal line (9-day EMA of MACD).
The relative strength index for VOXEL is currently neutral, with a value of 52.29 on the 1-H charts. Moreover, VOXEL prices have pulled back whenever the RSI trendline went near the overbought regions, highlighting a textbook reaction to RSI trends.
What Made the Voxel Token Jump?
Voxies Tactics is an Ethereum-based tactical role-playing game (RPG). The game offers a wide variety of characters, called Voxies, which can be owned as NFTs. In addition, Voxies come with six different rarity levels, ranging from common to Godly.
VOXEL is the game’s native token, with a fully diluted allocation of 300 million VOXEL tokens. The game’s developers plan to distribute 2% of the total VOXEL supply every week to Voxies owners. The individual amounts would depend on the number and rarity of Voxies owned.
The rarity of the Voxies determines how many VOXEL tokens players would receive each week, with Godly having the highest (15x) multiplication factor.
Binance recently announced the launch of Voxies as the 25th project on its launchpad. Moreover, the listing announcement led to a jump in VOXEL price action, which had been relatively flat earlier.
However, Voxies should first try to close 2021 on a strong note by breaking and consolidating above VOXEL’s descending trendline. At the time of writing, VOXEL was trading at $3.02, up 1.28% on the day.