GIFA Token (GIFX) has been on a roller coaster in the past months reaching $642 and then crashing down low in May. As of today at 15:30 GMT, 1 GIFA Token was worthed $22.30 before went down to $7.90, where it currently stands. The GIFA Token price rebounds from the early dip of $4.13 as the buying interest return that propelling the token's value higher.
GIFA Token's bulls are on the road to recovery through some stiff resistance and downtrends. The path appears to be in ascending triangle. In the past few hours, GIFA Token price touches the daily uptrends of $23.20, the golden token is looking forward to touching another resistance level.
Even though the past week saw blood in the markets, things seem to have stirred up as the world's top cryptocurrency, Bitcoin appears to have found its footing at $31,560. The daily chart reveals that GIFA Token price shows considerable strength after springing from the recent crashes. Still, it is uncertain whether the current bullish impulse will morph into a new uptrend or lead to a more profound decline.
Meanwhile, the US regulators continue evaluating the approval of Bitcoin ETF, institutions. If approved this will work well for the entire cryptosphere since it will accelerate institutional adoption that could play a big crucial role in crypto investment. Nexon, the Japanese gaming company became the latest publicly listed firm to acquire BTC. The Tokyo-based gaming company purchased $100 million worth of cryptos at an average price of $58,266, joining Telsa, MicroStrategy, and others.
GIFA Token price at crossroads
GIFA Token price has swiftly regained the losses incurred and now sits at an inflection point. Indeed, it could very well kick-start another rally that can flip other coins, or it might be the start of a much steeper correction. The weekly chart puts the price movement in perspective and shows that the parabolic growth will push GIFA Token into massive adoption.
People tend to buy in larger numbers whenever the price, slides a little bit lower because it is like opening them a new door for investors to accumulate this premier digital asset. If buyers can manage to push the GIFA Token above $50.00 this month and hold above this crucial hurdle, well the bearish scenario will likely to be invalidated.