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- 1 The Phantasma crypto asset has fallen below the major 20-day EMA.
- 2 The SOUL crypto has probably lost its steam and is not likely to go up anymore.
Phantasma is a blockchain network that can interact and integrate with other blockchains.It has a unique staking system, a dual token model, a sustainable economic design, and advanced smartNFTs that are eco-friendly.
The chain is built for digital goods & services for communication, entertainment, marketplaces, and on-chain storage solutions for dApp developers and enterprise clients.
Phantasma has been live since October 2019 and has become the preferred platform for Gaming and NFTs.
This is because of its low costs for creating and transferring NFTs as well as its smartNFT technology, which is developed on the chain level, and its commitment to be the first carbon-negative blockchain.
SmartNFTs are NFTs that can change their properties based on certain triggers.
They enable game developers to create decentralized dynamic in-game items, which is not feasible with conventional NFTs.They also allow for NFTs that have a time limit, multiple layers, infusions, and locked content that only the NFT owner can access.
The NFTs can be created on-demand at a very low cost compared to other blockchains.Phantasma has a simple connector between dApps, wallets, and blockchain through Phantasma Link.
It supports cross-chain interoperability with the Ethereum and BSC blockchains and can handle a high volume of transactions due to unlimited sidechains. It has Oracles embedded in the core of the chain.
Let’s analyze What’s Happening on the Soul Price Daily Chart
The SOUL price had a long downtrend from March 2022, when it was around $4, and started to rise again in November 2023. However, the rises were not very strong, as it shows the weakness of the buyers in the market.
Based on the chart performance, the SOUL crypto has done well on the chart in the last quarter by 183.00%.
But in the last few weeks, the price has broken the uptrend and started to fall. It suggests more potential drops as the price is facing difficulties in its upward movement on the chart.
At the time of writing, the SOUL crypto increased 3.42% in the last 24 hours and was trading at $0.19361.
It seems that the SOUL crypto has lost its steam and is not likely to go up anymore. Therefore, the Phantasma price could drop more from the current level in the next sessions.
The Phantasma crypto asset has fallen below the major 20-day EMA. However, if the SOUL crypto price does not hold above the $0.18000 level, it could fall more and break the supporting EMA’s as well.
On the other hand, if the demand for the SOUL token increases more and rises, then the next target for the SOUL price will be $0.28000.
Summary
The SOUL price had a long downtrend from March 2022, when it was around $4, and started to rise again in November 2023.
However, the rises were not very strong, as this shows the weakness of the buyers in the market. The Phantasma crypto asset has fallen below the major 20-day EMA.
Moreover, if the SOUL crypto price does not hold above the $0.18000 level, it could fall more and break the supporting EMA’s as well.
Technical Levels
Support Levels: $0.18000
Resistance Levels: $0.28000
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.
Steefan George is a crypto and blockchain enthusiast, with a remarkable grasp on market and technology. Having a graduate degree in computer science and an MBA in BFSI, he is an excellent technology writer at The Coin Republic. He is passionate about getting a billion of the human population onto Web3. His principle is to write like “explaining to a 6-year old”, so that a layman can learn the potential of, and get benefitted from this revolutionary technology.
