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Portal Price Rallies 30% In Breakout Move – Bulls Eye $4 Short Term

Web 3.0 gaming is gaining significant traction in the market, as evidenced by the recent rallies in cryptocurrencies like Notcoin. For savvy investors looking to maximize their returns, this shift signals an opportunity to maximize gains by getting into low-cap, undervalued Web 3.0 gaming cryptocurrencies.

One standout in this space is Portal (PORTAL), a cross-chain gaming platform poised to revolutionize the gaming experience in the Web 3.0 era. Portal currently ranks #281 in market cap rankings with a market cap of $245 million.

On-Boarding Players To Web 3.0 Gaming

Portal is designed to onboard more players into the Web 3.0 ecosystem by making the discovery and playing of Web 3.0 games seamless and easy. Through a single account layer, mainstream gamers can finally access the most extensive network of Web 3.0 games without the typical friction associated with blockchain gaming. This means players can enjoy games across different chains without bridging, swapping, or buying additional tokens, thus streamlining the user experience.

Also Read: 15 + Best Web3 Cryptos to Buy Now [Updated for 2024]

Portal’s Low Market Cap An Attractive Buy Signal

Several factors contribute to Portal being an undervalued cryptocurrency. A key factor is its relatively low market cap of $200 million. There is significant room for growth with a total token supply of 1 billion tokens, even with ongoing token unlocks. On June 29, 3.06% of tokens will be unlocked, but in the broader context of the total token supply, it will likely have little impact on the price.

Bitcoin Sending Bullish Signals a Boost For Portal

Additionally, the broader cryptocurrency market is bullish, which could see momentum flow more into low-cap altcoins like Portal. Already, Bitcoin is showing a resurgence in activity and could be on course to retest the $70k mark in the week. The crypto  is showing strong momentum, with its price rallying by 27% in the last 24 hours amidst rising volumes. PORTAL was up 30% to trade at $1.21 when going to press.

Portal Available On Binance And Other Top Exchanges

One of the advantages of Portal is the fact that it is listed on Binance. The listing on the leading exchange enhances its accessibility and liquidity.

This listing, which happened earlier this year, allows investors to buy Portal easily amidst its rising price. In an all-out bull market, this listing could help drive FOMO into Portal and drive the price to new highs.

Portal Price Prediction – Bullish Breakout: A Strong Buy Signal

Analyzing its price action, Portal is currently in a bullish breakout after months of consolidation between a resistance level of $0.925 and a support level of $0.742. Today’s bullish breakout positions PORTAL to potentially hit a high of $2.61, a critical monthly resistance level, within the week. Breaching this resistance could lead to a rally to a $4 high.

Portal Price Analysis

Source: TradingView

However, if the bulls lose momentum, PORTAL might enter another consolidation phase between $1.30 and $1. In a bearish scenario, if PORTAL drops below $1 today, it could experience a correction down to the $0.742 support level within the week.

Outlook Looks Bullish – Possible Rally To $4

Despite these potential scenarios, the overall outlook remains bullish. The breakout from the previous consolidation phase has generated significant momentum, making a bullish rally to $2 or higher more likely. This optimism is fueled by the platform’s innovative approach to gaming and the growing interest in Web 3.0 gaming.

Portal Attractive To Both Gamers And Investors

Portal’s seamless integration and user-friendly experience are significant draws for gamers and investors. The ability to play games across multiple chains without the traditional hurdles associated with blockchain gaming makes Portal a standout in the Web 3.0 space. This cross-chain capability enhances the user experience and opens up a broader market for developers and gamers alike.

Recap

The rise of Web 3.0 gaming cryptocurrencies like Portal highlights the evolving landscape of digital assets and gaming. Portal is positioned as a promising investment opportunity with its innovative platform, low market cap, and strong market momentum. Investors looking to capitalize on the burgeoning Web 3.0 gaming sector should closely monitor Portal and its ongoing developments. As Bitcoin starts showing signs of a rebound, PORTAL, already in a breakout, could be up for a parabolic price move in the short term.

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Disclaimer: Cryptocurrency is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.

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