- Catizen forms a bullish falling wedge; a breakout could drive growth, says CobraVanguard.
- Catizen’s HashKey partnership strengthens its role in Web3 gaming on the Ton network.
According to CobraVanguard, a well-known cryptocurrency analyst on TradingView, Catizen (CATI) is currently developing a falling wedge pattern on the daily chart. “Up we go if we do breakout,” CobraVanguard said, expressing confidence in CATI’s bullish potential.
CATI Potential Rise Supported by Toncoin’s Network Momentum
Targeting $0.8 as a possible milestone, he further projected that should this breakout take place, the token’s price might rise up to the Fibonacci level of 0.618. Meanwhile, having recently corrected from a market cap of $100 million, CATI is trading around $0.3242 at the time of writing, a 3.19% decrease over the last 24 hours.
The performance of CATI also seems to be much influenced by sentiment about its network token, Toncoin. This network-based momentum suggests that any enhancement in TON’s market performance might probably help CATI to comeback.
This alignment with Toncoin points to a symbiotic interaction inside the network whereby favorable TON movements can provide ripple effects for other related tokens, including Catizen.
On the other hand, Catizen has teamed with HashKey Group, a development noted by CNF, therefore confirming its place in the Ton ecosystem. With an eye toward the Ton ecosystem especially, this cooperation seeks to globally promote Web3 gaming and digital asset services.
By offering a novel and scalable way to update gaming using blockchain technology, this alliance is projected to link Web3 experiences with traditional gaming.
Beside that, with the number of TON holders soaring from almost 7.12 million to almost 108 million between March 15 and October 17, Toncoin, the main token of the network, has seen an amazing increase in user acceptance.
With an expected daily growth rate of almost 500,000 holdings, this surge has allowed TON to exceed Ethereum in fresh user acquisition.