AUCTION / USD Still Under Pressure; the price of this cryptocurrency fell from $ 65 to $ 45 in less than several hours. From a technical point of view, the risk of a further decline still persists, and if you decide to buy this cryptocurrency at the current price, you should use a stop-loss order because the risk is still high.
Decentralized platform for auctions
AUCTION is a token that powers a decentralized Bounce auction platform by supporting incentives in the protocol, while also providing benefits and governance rights for holders.
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Bounce allows you to connect, exchange, build and collect all kinds of assets, tokens and NFTs on multiple blockchains and participate in decentralized auctions.
Assets can be auctioned in a number of ways, but the most popular is at a fixed price (fixed exchange auction), declining price (Dutch auction), or hidden price (closed bid auction).
Bounce provides a competitive environment for a limited supply of tokens or other assets, and it is important to say that the Bounce web application is available for Ethereum and Binance Smart Chain based assets.
The Bounce platform offers you multiple wallet support and works with the most widely used cryptocurrency wallets such as Coinbase Wallet, Binance Chain wallet, WalletConnect, Trezor, Ledger, and MetaMask.
The popularity of this project is growing and according to the latest news, Bounce announced a strategic partnership with NFTb, the complete multi-chain DeFi and NFT platform for communities. Bounce’s marketing team reported:
Bounce has been investing a large part of its development power in NFT for the whole bull, and we have launched Fangible as a sub-brand of Bounce focused exclusively on NFT. We believe that together with NFTb, Bounce will deliver even more exciting features and real benefits to the entire crypto world.
Another positive news is that the AUCTION token was listed on Coinbase on October 19, and to celebrate this listing, Coinbase launched a contest campaign where users can earn $ 3 in this cryptocurrency.
Bassists are in control of AUCTION
AUCTION has tumbled from its recent highs above $ 65 on Friday. The risk of further declines is not over yet, the critical support level is at $ 40, and if the price breaks it, it could be the beginning of a larger downtrend.
On the other hand, if the price jumps back above the $ 50 resistance, we have a clear path towards $ 60.
Bounce is a project with great potential, but it is probably not the best time to buy an AUCTION token. The cryptocurrency market is losing its value this Friday; Bitcoin price has weakened since its recent highs, and AUCTION price may weaken from current price levels if the negative trend continues.
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