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The global cryptocurrency market has not performed well in the last 24 hours, given that the total crypto market cap has declined by 1.6% to reach $832 billion. Most coins are consolidating, but this has not prevented Beefy Finance (BIFI) from decoupling from the broader market and making its own rally. In the last 24 hours, BIFI has gained by 15.8%, trading at $368 at the time of writing.
BIFI price prediction
BIFI is bullish today and has outperformed most of the cryptocurrency market over the past day. In the last 24 hours, the token has shown a notable spike in volatility after trading within the $311 and $456 range. The token has reported trading volumes of over $29 million in the last 24 hours.
The high volatility and the gains made by BIFI over the past few days have attracted crypto investors interested in booking profits. Therefore, the token is showing signs of retracing as these traders leave the market due to fear of a price correction.
If the bulls grow stronger, BIFI will likely rally to the $400 level again. Rallying to this level will likely be attributed to intense buying pressure as crypto traders turn their attention from the consolidating tokens and focus on the ones showing the likelihood of making notable gains.
Nevertheless, the bears are also growing stronger, given that market support is lacking. The traders that bought during the pump could start dumping to keep the profits. This could trigger a plunge in BIFI’s price that will drop the token to below $350. If the selling pressure continues, BIFI will decline and possibly lose its hold at $300. Critical support lies in the $310 range.
BIFI’s price chart
The BIFI price chart shows a notable spike in the token’s price after a lengthy period of consolidation. However, the sharp gain was shortly followed by a sharp drop as the bulls could not keep the price above $400.
The token has a Relative Strength Index of 52, which is a neutral level between the sellers and the buyers. However, the movement of the RSI shows that the buyers have been losing their grip. More dips are to be expected if BIFI drops below $350.
The MACD line also shows a sharp reversal. The bullish thesis will be erased if the token falls below $300.
Altcoin alternatives to buy today
If you are buying BIFI during the pump, you should consider diversifying your portfolio with some of the best presales happening today. Some presales that could deliver 10x gains are Dash 2 Trade and FightOut.
Dash 2 Trade
Dash 2 Trade is a crypto intelligence platform set to become the Bloomberg Terminal for crypto. The platform is slated to launch in early 2023, and it will allow crypto traders to have proactive information that will help them make winning trades.
The Dash 2 Trade presale is selling out fast, and more than $11.18 million has been raised so far. 84% of the presale tokens have been sold, and only nine days are left before the presale closes. The first CEX launch for D2T will be on January 11, resulting in significant gains for investors.
FightOut
The other major presale happening today is for FightOut. FightOut is a move-to-earn platform seeking to offer a holistic approach to fitness through Web3. FightOut removes the barrier to entry to M2E platforms, which is usually expensive non-fungible tokens (NFTs).
The FightOut presale started recently, but investors are already rushing to invest in the token. The presale has raised over $2.43 million. There is a 50% bonus for the early investors, which will end after $5 million has been raised.
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