NFT: My Neighbor Alice (ALICE) Fundamental & Technical Analysis
This is the first newsletter in the NFT coin series! Written by Gaurav and myself, you will find an FA & TA analysis.
First of all, I want just say thank you for all your daily support and to Gaurav for helping me to write more diverse and qualitative content.
Summary
Introduction
Fundamental Analysis
2.1 Token Utility
2.2 Token Distribution
2.3 ConclusionTechnical Analysis
3.1 Global View
3.2 Fibonacci Levels
3.3 Resistance Breakout
3.4 Weekly Plan
3.4.1 First scenario
3.4.2 Second scenario
3.5 BTC PairOverall
Bonus
Introduction
When I saw the website of My Neighbor Alice for the first time, I was taken back right away to a game that most of us would remember from the earlier days of Facebook called FarmVille. Well, if that is too old for you well then you just missed out. Now coming back to My Neighbor Alice, which is a multiplayer builder game where anyone can buy and own virtual islands. The land is the foundational asset in the game. In totality the game allows you to have 100,000 pieces of land which are spread across 6 islands, one of the Island names is Snowflake which is my personal favourite.
Fundamental Analysis
Token Utility
Game Currency: Players can use the ALICE Token to purchase in-game assets, land and modify their Avatar using the token.
Governance: Users can participate in the governance process through a Decentralized Autonomous Organization (DAO) and vote on the on-improvement proposals. The team will also be introducing incentives to encourage voter participation.
Staking: People can stake their Alice tokens to earn a percentage of platform revenue from plot sales, asset sales and transaction fees.
Player Incentives: Players can complete in-game quest and earn Alice tokens. This helps to onboard new players to the platform.
Few important things we should now about:
Token Distribution
Few Important Things which make My Neighbour Alice an interesting place to be
My Neighbour Alice aims to become a true user owned game with its own decentralized organization called community council governed by the community.
The game has its own marketplace, where you can trade In-Game NFTs and on the different marketplace.
Imagine being able to trade NFTs and land on different partner blockchains.
As per the future developments, the team is working on launching a mobile app for user loyalty program and access to in-game assets. This would really boost the onboarding process for new users. Â Â
Conclusion
The best thing going on for My Neighbor Alice is the fun element of the game. Players buying land is now becoming an important digital commodity and then building on it. Apart from being engaged in the game players can interact with their friends but also trade In-Game artefacts. If the team performs on-time upgrades and the game keeps on getting new users, My Neighbor Alice can make a big name for itself in the industry.Â
Gaurav Tripathi ⎜@CryptoTripathi
Reminder
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Technical Analysis
Global View
ALICE was in a range for almost a month and manage an awesome and strong breakout last week to reach $20+.
With a triple top on the RSI and a bearish divergence, the correction was inevitable but it seems that ALICE has found a new local support that has also printed an HL.
While I’m writing theses lines, ALICE just broke out of its diagonal resistance. let’s see what we can expect next.
Fibonacci Levels
As I said above, ALICE just broke out few resistances. One of them was the 0.236 fib level at $18.8.
This breakout send the price near the next fib (0.382) at $19.76 but without any real attempt for a new breakout.
Resistance Breakout
Here the breakout that I talked since the first lines of this technical analysis! This resistance was from the last top above $23 and after three attempts missed, ALICE was able to make a clean breakout with good volume. I shared a H1 chart because the retest was perfect. Furthermore, two EMA have also been retested, EMA 100 and EMA 200.
In my opinion, there is many bullish signs here for ALICE. And it is not too late, here, my weekly plan.
Weekly Plan
First scenario:
Breakout confirmed and retested
Consolidation between the fibs (0.236 & 0.382)
New breakout to the next fib at $20.5 where we should see longer consolidation
Second scenario:
Fake breakout and next H4 close below diagonal resistance
Bearish retest and further correction toward last low and EMA 100 (H4)
Bounce back and breakout with first scenario attempt again
BTC Pair
BTC Pair looks like the USDT Pair with first green H12 candle since the last top and in a good position for a breakout from here.
This breakout was with a good volume but if you are trading on BTC Pair, be careful as Bitcoin seems strong and determinate to reach $51,000 or higher and ALT/BTC could take a hit in the coming days.
Overall,
ALICE is one of the best and famous project right now. Furthermore, with all the hype around NFTs, theses coins should outperform many other in the market in the coming weeks/months.
Also, I would like to thank Gaurav again for helping me to complete this analysis with the fundamental part.
Anthony ⎜@AnthoXBT
Bonus
More great things are coming! We will be shooting a video/interview with Gaurav in the coming weeks which you can find on his Think BIG YouTube channel.
Also, stay tuned as four more NFT newsletters are coming in the next few days. Thanks for reading and supporting us!
If you like it, don’t forget to subscribe, share and follow theses account on Twitter: @AnthoXBT & @ApeBaguette