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Highlights
- X Empire defies the crypto market crash with a 47% rally over the week and 8% in the last 24 hours.
- With strong buying pressure and the increased trading volume, the token is moving towards ATH.
- However, with the building selling pressure, the bullishness might halt before attaining $0.0005 in the long term.
Bitcoin’s drop below the $100k mark has fueled the crypto market crash, as almost every asset is declining today. It includes the 2% drop in ETH, a 5.7% drop in XRP, a 4% drop in Solana, and much more, bringing the global market capitalization down to $3.59T after a 1.8% drop. However, one cryptocurrency is beating the odds, where the X Empire price surged 47% over the week. More importantly, the price has surged 8% in the last 24 hours alone, fueling the investor’s anticipation around the new ATH.
X Empire Price Gains Momentum With High Buying Pressure
X Empire is among the most popular tap-to-earn games, facilitating its services to more than 50K users. Its demand grew with the popularity of similar Telegram mini-games like Hamster Kombat. However, the same demand could not help it much in the crypto market, as the X Empire price crashed right after the token launch. The biggest reason behind this was the X airdrop-induced volatility and selling sentiments among users’ disappointment with the distribution. However, it did gain momentum at the beginning of November, creating an ATH of $0.00058.
Interestingly, the same momentum had been building for a week, leading to the 47% rally. This happened with the strong buying pressure building on the token, as the investor’s interest began shifting from popular cryptos list to low market cap cryptos to benefit from shorter rallies in the ongoing crypto market crash. As a result, the 24-hour trading volume grew to $423.22M after a 23% rally. With that, it achieved the biggest peak of $0.0003194 yesterday in days. However, the X Empire price has consolidated significantly from that, currently trading at $0.0002784 with a market capitalization of $192.1M.
The buyers are certainly gaining control and are in charge. However, it is uncertain how long the bullishness might continue, especially when Bitcoin price risks a drop to $90k.
Will This Bullishness Sustain Amid Crypto Market Crash?
Despite the X Empire price’s ongoing rally, users’ sentiments are mixed about the rally’s continuity. As the token has exhibited poor performance in the past, selling pressure might increase with rising prices, leading to a trend reversal. Even the technical indicators hint at the presence of the sellers, with CCI and Momentum indicating building selling pressure. This could bring further consolidation, especially with the ongoing crypto market crash.
However, in contrast, the buying pressure is quite persistent, with the RSI indicating the possibility of the continuity of the ongoing trend with the rising demand for the token. If the trend continues without any prominent consolidation, the token could hit $0.0005 in the long term before hitting a new ATH.
Final Thoughts
With high buying pressure, the X Empire price is gaining momentum despite the crypto market crash. The token had struggled at the beginning of the launch but peaked in November when it created an ATH of $0.00058. However, a downtrend followed until recently, as the price is up by 47% over the week and 8% over the day, indicating investor’s rising interest in this token. Meanwhile, the PEPE token is also building momentum, as it has just achieved an ATH. This token has turned a crypto investor’s $70M into $7M over the two years, clarifying how long-term holdings build gains if done correctly.
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