NFTs sales surge in December, Magic Eden’s troubled token launch: Nifty Newsletter
NFT Sales Performance: Non-fungible tokens (NFTs) saw a strong start to December with $187 million in weekly sales, surpassing November's peak, driven primarily by Ethereum-based collectibles.
Fraud and Market Challenges: The Brooklyn District Attorney's office shut down 40 fraudulent NFT marketplace sites after an artist lost $135,000, while Magic Eden's new token faced a significant drop in value due to user complaints about its app.
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Technical Analysis for RARI
Technical Sentiment Analysis for Rarible (RARI) As of , Rarible (RARI) is exhibiting a Strong sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 0 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for RARI 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, RARI 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 $-.
Rarible (RARI) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0534 | 0.094 | 0.129 | 0.17 | 0.205 | 0.246 | 0.281 |
| Fibonacci | 0.094 | 0.123 | 0.141 | 0.17 | 0.199 | 0.217 | 0.246 |
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