Well, let's figure out why the price of Fusionist (#ACE) has risen by 52% in the last 24 hours. Let's start with the analysis of the provided data.
First, the current data shows a price increase of 52.07% over the last day. The trading volume has increased by more than 2700%, which is a very significant jump. The market capitalization has grown by about the same percentage as the price, indicating a large volume of purchases.
Looking at the news, there is mention of a token unlock scheduled for September 14, just a few days from the current date (September 11). Token unlocks can sometimes cause price fluctuations, but in this case, the unlock volume is small — about $716,000, which is only 2% of the total supply. However, the support for the network upgrade and the hard fork from Binance on August 20 likely boosted investors' confidence. Binance's participation is usually seen as a sign of reliability, attracting more traders.
Another piece of news concerns the testing of Fusionist Game & Findex, which took place from August 25 to September 8. As part of the test, participants were rewarded with ACE tokens, which could have increased interest and demand. Participants could buy ACE to participate or hold it for rewards, which also contributed to the price increase.
Technical analysis shows that the Relative Strength Index RSI7 is 76.57, which is in the overbought zone. This means that the price has risen rapidly, but there is a risk of correction if traders start to take profits. The MACD histogram is positive, indicating a bullish trend.
The global cryptocurrency market has grown only by 1.6% in the last 24 hours, while the growth of ACE is significantly higher, indicating its outperformance. The fear and greed index is in the neutral zone, so the overall market sentiment is not the only factor in the growth. The altcoin season index is rising, which may indicate that investors are switching to altcoins like ACE.
In summary, the main reasons for the growth are the support for the Binance network upgrade, the ongoing testing of the reward game, and possible expectations of the token unlock. Technical indicators confirm a bullish sentiment, but overbought conditions require caution.
