This Week’s Cryptocurrency Trade is this time the number 142 on Coinmarketcap: MyNeighborAlice (ALICE) which has a market cap of $672 million. My Neighbor Alice is a multiplayer builder game where anyone can buy and own virtual islands, collect and build exciting items and meet new friends.
Inspired by successful games like Animal Crossing, the game combines the best of both worlds – a fun game for regular players who want to enjoy the gaming experience and an ecosystem for players who want to collect and trade Non-Fungible Tokens (NFTs).
More info on the platform itself can be found here: https://www.myneighboralice.com/
ALICE has been under pressure for a long time, recovering nicely from the October bottom around $10. Since then, the price has more than doubled. This increase has also been accompanied by considerable volume, which indicates the increasing interest of investors. Currently the 4 exponential moving averages (8, 21, 34 and 55) are trading well below the price, indicating a very strong market. Although I do not exclude a small correction, at a price of $22 I think ALICE is definitely worth buying. Full disclosure: I have this coin in portfolio myself. If desired, you can use a stop/loss below $18, because then the positive scenario falls apart.