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The Heroes of Mavia price has plummeted 25% in the last 24 hours to trade for $6.8180 as of 2:45 a.m. EST time.

Trading volume has also dropped a fraction, with MAVIA falling in line with the choppy altcoin market.

It comes as markets capitalize on the listing of MAVIA for futures trading on HTX, with traders seizing the opportunity to short the Heroes of Mavia price.

Heroes of Mavia Price Prognosis

The Heroes of Mavia price is trading in the lower section of the Bollinger indicator, between the centerline at $7.2507 and its lower band at $5.6462.

It comes after the Heroes of Mavia price slipped below the support due to the 23.6% Fibonacci level at $7.3079. The Relative Strength Index (RSI) is southbound and could soon cross below the 50 level to show falling momentum.

The Moving Average Convergence Divergence (MACD) has also slipped below its signal line (orange band), with its histogram bars in negative territory. This shows the bears are playing an active role in the MAVIA market.

With the technical indicators supporting the downside, the Heroes of Mavia price could slip below the support offered by the 25-day Exponential Moving Average (EMA) at $6.7110. Lower, the altcoin could test the 38.2% Fibonacci at $5.9442 or extend a leg lower to the 50% Fibonacci retracement level of $4.8421.

For the big-picture bullish outlook to be invalidated, however, the Heroes of Mavia price could slip below the 61.8% Fibonacci level at $3.7400. Such a move would denote a 45% fall below current levels.


TradingView: MAVIA/USDT 3-hour chart

Converse Case

On the other hand, if the bulls buy the correction, acquiring MAVIA at discounted rates, the Heroes of Mavia price could push north, flipping the 23.6% Fibonacci level back into a support floor at 7.3079. In a highly bullish case, the altcoin could reclaim the range high of $9.5000, or clear it to record a new local top above it.

Elsewhere, attention has shifted to the GameFi token, MK, which is sprinting towards the $8.6 million mark in presale sales. Experts say the meme coin could 10X at launch.

Promising Alternative To The Heroes of Mavia

MK is the powering token for the Meme Kombat ecosystem, advertised as “an innovative new gaming platform designed for gaming enthusiasts.” It offers community members a chance to fight out their issues in the arena, represented by meme characters of their choice.

MK battles

As the token presale of Meme Kombat approaches its conclusion, having already raised over $8.6 million as it rapidly approaching its hard cap of $10 million.

The upcoming Web3-based play-to-earn (P2E) game continues to garner attention, with investors going after its distinctive gameplay featuring meme coin characters. Another enticing feature of the project is its potential to become one of the top meme coins in 2024.

The initiative integrates elements of GameFi, GambleFi, and AI functionalities. By investing in this meme coin, you’re essentially backing these three sectors, all of which are experiencing rapid growth within the Web3 market.

Token holders can leverage the staking dashboard, which went live in November. Staking rewards go as high as 109% currently, with 80% of the entire token bucket already staked, constituting over 36.166 million MK tokens with 11,806 stakers in line for rewards.

MK stake

The point of $MK is not to just buy and trade but to stake your token in Meme Kombat. Bet on battles for the chance to win big, with larger, more hyped battles available alongside the regular battles. Participate for a chance to win large prizes.

Traders looking to buy MK can do so on the official website, where each token is selling for $0.279.

Also Read:

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