Developers Fulfilled Their Commitment in This Altcoin with a Significant Buyback, Yet the Price Remains Well Below Its All-Time High
YGG Token Buyback: Yield Guild Games (YGG) has executed a $1 million buyback of its tokens, utilizing revenue generated from their gaming activities.
Token Withdrawal Details: The company withdrew 5.87 million YGG tokens from the exchange after transferring 1 million USDT to Binance, with an average buyback price of $0.17.
Revenue Generation: YGG's first game, LOLLand, has reportedly earned around $1 million in revenue over the past month, which may have funded the token buyback.
Market Performance: As of now, YGG tokens are trading at $0.1539, having dropped 11.03% in value for the day and 98.65% since their peak in November 2021, amidst a bearish trend in the cryptocurrency market.
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Technical Analysis for YGG
Technical Sentiment Analysis for Yield Guild Games (YGG) As of , Yield Guild Games (YGG) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for YGG stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, YGG is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Yield Guild Games (YGG) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.012 | 0.0224 | 0.0328 | 0.0432 | 0.0536 | 0.064 | 0.0744 |
| Fibonacci | 0.0224 | 0.0303 | 0.0352 | 0.0432 | 0.0511 | 0.056 | 0.064 |
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