WBT, the usefulness of Crypto Exchange Whitebit, became the best performing assets on 16 June and gathered along Toncoin and Shiba Inu only a few hours after the stock market announced an important partnership with a popular European football club.
According to data from crypto.news, WhiteBit Coin (WBT) rose 32% Intraday, and formed a sharp breakout candles that often called a ‘god candle’, and reached a new highest peak of $ 52.27. The rally pushed its year-to-date profit above 110%.
With a market capitalization of $ 7.43 billion, WBT Toncoin (Ton) and Shiba Inu (ShIB) overtaken to become the 21st largest cryptocurrency in the market.
The primary catalyst behind the Golf was the announcement of Whitebit of an exclusive partnership with Juventus, one of Europe’s most iconic football clubs. The deal includes the Whitebit logo that can be seen on the official Matchday Jerseys of Juventus, which considerably increases the brand of visibility of the exchange in the worldwide sports audience.
Such high -profile sponsorship often stimulates both the acceptance of users and institutional interest, which contributes to an increased trust of investors.
That trend already seems to be playing. Unclean facts Show that daily active addresses on Whitechain have risen by 182% in the past two days, which is a sign that user involvement is increasing alongside investor’s interests, which can help maintain the rally.
This is particularly relevant for WBT, which serves as the core smoking of the WhiteBit -Ecosystem. It provides transactions on Whitechain and unlocks benefits such as discount costs and improved platform rights. As the activity in the network increases, the demand for WBT also takes place.
WBT -Price analysis
On the daily graph, WBT broke out above a rising trendline that has been intact since November last year, which confirms a possible continuation of the Bullish Trend.
The most important momentum indicators, including the MACD and price scillators, have definitely shifted up, indicating the growing power in the current upward trend.
The Chaikin Money Flow Index also supports these bullish prospects, with a positive reading of 0.53, which indicates persistent capital inflow and accumulation by investors.
Looking ahead, WBT will probably test the next major psychological resistance level at $ 55 when bullish momentum is considered
However, careful with the short term is justified. The relative strength index is currently near 93, an extremely overbough level that usually precedes local corrections, which increases the risk of short-term volatility.
Nevertheless, continuing demand from traders and growing ecosystem involvement can, any immediately downward risk during Uptrends.
From the moment of the press, WBT has given up part of its earlier profits because it fell 1.24% to $ 51.62.
Publication: This article does not represent investment advice. The content and materials on this page are only for educational purposes.
