Metacade price has been affected by the ongoing debt ceiling crisis in the United States, which has created a good buying opportunity for investors. The token, which is a new blockchain project building a gaming product, was trading at $0.022, much lower than its all-time high of $0.046. However, the drop in price is due to the ongoing risk-off sentiment among market participants and not Metacade’s fundamentals. The debt ceiling issue is expected to be resolved, and historically, deals are reached at the last day. Therefore, the debt ceiling crisis is an opportunity for investors to buy the dip in key financial assets like Metacade and stocks.
Metacade has strong fundamentals, with developers working on launching the game in the next few months and getting the token listed by major exchanges. The gaming industry is expected to grow in the next few years, and blockchain games made over $4.6 billion in 2022, with the number expected to jump to over $65 billion by 2027. Therefore, Metacade has a good chance of having a market share in the industry.
On the hourly chart, Metacade price has moved sideways, the same as other cryptocurrencies like bitcoin, ethereum, and solana. The coin has moved slightly above the ascending trendline and the 25-day moving average, while the Relative Strength Index (RSI) has moved above neutral. Therefore, it is expected that MCADE price will continue consolidating and then make a bullish breakout later in the month. If this happens, the next level to watch will be at $0.024, and a move above that level will bring the resistance at $0.30 into view.
In summary, the debt ceiling impasse is creating a buying opportunity for Metacade and other financial assets. Metacade also has strong fundamentals, and the gaming industry is expected to grow. Therefore, investors can take advantage of the price drop to buy the dip and make good profits in the long run.