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- 1 The Spintop crypto asset is demonstrating bearish weakness and downward momentum as it is now below the major 20-day EMA.
- 2 SPIN asset chart shows that the crypto asset is losing traction and could reach new lows.
Spintop is a blockchain gaming hub that leverages the new possibilities of web3 to provide a complete platform for players, traders and investors. Spintop’s vision is to create a space where blockchain gaming can be explored, shared and supported.
The platform consists of four main products that interact socially and are based on user profiles:
Gamepedia: A collaborative gaming guide where games can be searched, sorted and filtered by tokenomics, ratings, smart chains, and development statuses. Games can also be reviewed by both experts and users.
Spindex: A decentralized exchange (Dex) where gaming tokens are pooled together to create liquidity, rewarding yield farming.
Guild Maker: A place where play-to-earn sponsors and scholars can connect. Sponsors can even burn their SPIN and create their own yield guilds, recruit scholars for them and compete with each other.
NFT Marketplace: NFT marketplace will be the source of supply for the guilds, users and games where they can list their NFTs for sale or lending.
As per the coinmarketcap a crypto data analysis website. Its market value is $6.69 Million and its trading volume is $251,282.31. There are 557.66 Million self-claimed assets in circulation.
Will Spintop Crypto Take Reversal Or Continue Declining?
The SPIN crypto is trading with a slight surge of 0.31% in the last 24 hours, trading at $0.0137.
The crypto is nearing a drastic fall, as it hits the resistance level and sinks down from the current support zone.However, if the SPIN crypto price fails to stay above the $0.0100 level, it could decline further.
The Spintop crypto has shown good performance in the past one month, and in the last three months, it showed a consistent upward trend.
However, The Spintop crypto asset is expressing bearish behavior and has the opportunity to fall further. It has attained bad performance in the last week by 6.12% implying a stable downward direction.
The Spintop crypto asset is demonstrating bearish weakness and downward momentum as it sinks below major 20-day EMA recently. The surge in sellers or profit booking continuation could stretch the downfall and breach other major EMA’s as well.
The SPIN asset is demonstrating bearish potential and the RSI is decreasing gradually, signifying that the crypto asset is losing traction and can reach new lows.
However, if the demand for the SPIN Token remains high and advances again, the asset price could bounce back. The next goal for the SPIN price could be to reach $0.0200.
Summary
The crypto is nearing a drastic fall, as it hits the resistance level and sinks down from the current support zone.The Spintop crypto asset is expressing bearish behavior and has the opportunity to fall further.
It has attained bad performance in the last week by 6.12% implying a stable downward direction.The surge in sellers or profit booking continuation could stretch the downfall
Technical Levels
Support Levels: $0.0100
Resistance Levels: $0.0200
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
