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As a remarkable example of resilience and strategic innovation, Choise.com and its CHO token have transformed into a compelling example of strength in the volatile cryptocurrency market and have been an inspirational model for cryptocurrency success, drawing investors and traders to take advantage of this opportunity. This surge in interest has been further amplified by the anticipation of expanded utility for CHO, particularly in the lucrative business-to-business (B2B) segment.
Choise.com emerged from the groundwork laid by Crypterium, known for integrating crypto centralized finance (CeFi) infrastructure—a comprehensive crypto wallet with bank card support—with decentralized finance (DeFi) solutions via the Charism protocol. In this way, Choise.com offers a unique value proposition: a single platform where users can manage their crypto assets, engage in cross-chain activities, and explore NFTs and decentralized derivatives, all while earning attractive returns on their CHO tokens.
Over the past seven years, this platform hasn't just grown; it's morphed right alongside what crypto users worldwide have come to expect. Even with the market being as unpredictable as it is, CHO managed to stand out by shooting up over 400%, especially at a time when Bitcoin was taking a step back. Actually, market observers are placing a high probability on this trend not just persisting, but booming even more in the near future.
While details are yet to be revealed, many think the growth spurt can be partly credited to the innovative development of Choise.com's Vault – a solution that aims to bridge traditional finance and decentralized finance, which according to the founder represents a $50 billion market opportunity, with an annual revenue of $60 million in 2024 and $180 million in 2025. As Vault grows and captures more market share, it is expected to enhance the value proposition and market performance of the CHO token.
The ongoing bull run of CHO has been also attributed to anticipated changes in CHO's tokenomics, confirmed on the project’s new website, Choise.ai.
Moreover, as the crypto market anticipates a bullish phase post-Bitcoin halving, Choise.com has already marked significant achievements, including operational expansion to over 170 countries and a user base of over 1 million.
In March 2024, CHO astonishingly grew over 400%, with a notable 90% price jump within a week—a time when Bitcoin experienced a significant pullback, shedding $10,000 off its value from a new all-time high (ATH) of $73,750.
Looking back into 2022's harsh crypto winter, while the market grappled with plummeting values, CHO also rose steadily, buoyed by the community's enthusiastic reception to Choise.com's launch. According to Vladimir Gorbunov, the founder of Choise.com, in just a few days since the release, CHO surged over 180% and continued to exhibit positive gains, peaking at a record high of $1.38 in September 2022.
The compelling vision behind the product propelled the token to soar during the launch of Choise.com and in its initial days, maintaining a bullish stance throughout the year at a time when the rest crypto market was struggling.
As an example, the peaks in the price chart for CHO in 2022 are directly correlated with significant developments within the Choise.com ecosystem:
Completion of Token Sale Rounds: In April 2022, Choise.com completed several community rounds of CHO token sales on platforms such as Crypterium, SolRazr, OccamRazer, and Bitbns, successfully selling all the announced tokens for a total of $1.47 million.
Token Listing on DEXs: In June 2022, after completing its token sale rounds, Choise.com listed the CHO token on leading decentralized exchanges (DEXs) like Uniswap, Raydium, and MEXC, which was a significant step towards increasing its accessibility to a wider audience.
Launch of Limited MetaFi NFT Collection: A limited MetaFi NFT collection was released, with the entire volume of 1000 NFTs being sold quickly, demonstrating a strong interest in this new asset class and adding a unique angle to the CHO token ecosystem.
Launch of First-Ever NTO: Further, in December 2022, Choise.com introduced a new form of token distribution wrapped in NFTs, creating a new class of overcollateralized NFTs – a new trend in the market offering the community valuable tokens at discounted prices.
Correlating these events with the price peaks in the chart, it seems plausible that the anticipation and realization of these milestones have had an impact on the token's price, rather than the general crypto market sentiment at the time.
Meanwhile, looking at the technicals for CHO, there are plenty of bullish patterns and indicators to notice.
The market cap of CHO has seen a substantial increase of 23.56%, now standing at $8,118,822 – a strong indicator of growing investor confidence and market valuation.
The 7-day price range for CHO shows a significant range from $0.04303 to $0.07552, suggesting volatility with a strong upward trend. The percentage increases over different time frames are overwhelmingly positive, with a staggering 379.5% increase over the past 30 days, showcasing a massive rally in the wake of the anticipated revolution in Choise.com's tokenomics and the company's active development in B2B with already highly profitable Vault.
CHO has just formed the Golden Cross pattern – a very bullish signal that occurs when a shorter-term moving average crosses above a longer-term moving average. It appears that the 50-day moving average (the orange line) has crossed above the 200-day moving average (the green line), which is typically interpreted as a potential for a long-term bullish breakout.
Source: TradingView
Furthermore, the chart shows that all moving averages (10, 50, 100, 200 days) are in an uptrend and the price is above all these moving averages, which suggests strong bullish momentum. As a rule of thumb, the price holding above these lines is a positive sign, indicating ongoing buying pressure and bullish sentiment.
The candles are predominantly green and the price has been rising, suggesting that buyers are in control. The price has been testing the shorter-term moving averages but has not closed below them, and this indicates that these averages are acting as dynamic support levels. A pattern of higher lows can also be seen from the chart, which can also be interpreted as a sign that a bullish trend is in progress. Each dip is bought up, preventing the price from falling below previous lows, and this pattern indicates that buyers are willing to step in at higher prices over time.
The volume bars correspond with the price action, indicating significant trading activity during price movements – a classic bullish sign indicating that the price increase is supported by investor enthusiasm. The trading volume is also supportive of the Golden Cross. When there is trading volume increasing as the Golden Cross occurs, it's like a green light signaling this bullish signal is strong and more buyers are looking to buy. It is also notable that before the Golden Cross, the volume was relatively lower, consistent with the price consolidation phase. After the Golden Cross, the volume increased significantly, showing the increased interest and potentially new capital entering the market as traders take positions in anticipation of a continued uptrend.
CHO has shown an impressive 90.38% spike in 24-hour trading volume, amounting to $3,004,959, propeling CHO to rank #819 in terms of trading volume as of this writing. It is also important to note that the CHO token displays a high volume/ market cap ratio of 35.69%, which indicates robust trading activity relative to the size of the market cap – a sign of investor engagement and a potentially bullish market response. In addition, with a circulating supply at 109,573,889 CHO, which is 10.96% of the total and max supply, there is evidence for a controlled release into the market that may help prevent inflationary pressures.
The Relative Strength Index (RSI) is at 69.30, which is close to the overbought territory but still below the threshold, suggesting the momentum could continue before any potential pullback. Furthermore, the Average Directional Index (ADI) at 60.16 signals a very strong trend.
As a final note, it's important not to overlook the Awesome Oscillator (AO) and Bull Bear Power oscillators which are currently exhibiting some positive signals that reinforce the bullish mood.
Given the robust bullish signals from both market metrics and technical indicators, CHO appears poised for continued growth. The classic pivot point indicators show substantial room for upward movement, with the first resistance at $0.09623 and the second at $0.12397.
Assuming the market maintains its current sentiment and no adverse macroeconomic news or regulatory challenges arise, it's feasible to predict that CHO could test the first resistance level of $0.09623 in the near term, especially if it maintains its trading volume and market cap growth.
If the momentum continues and the broader market remains favorable, reaching and surpassing the second resistance at $0.12397 is within the realm of possibility, potentially targeting the third resistance at $0.19367. It's important to note, however, that resistance levels can also act as psychological barriers, where profit-taking may occur leading to price pullbacks.
Investors should monitor the RSI and other oscillators for signs of divergence which could indicate a slowing momentum. A continuous watch on trading volume is also crucial as declining volumes during price increases may signal a weakening trend. As with all forecasts in the volatile crypto markets, these predictions should be taken with caution and not as definitive financial advice.
Choise.com and the CHO token appear to be at the forefront of a transformative journey in the cryptocurrency landscape – they are not just riding the rollercoaster of the crypto market's highs and lows; but are completely changing the game in terms of staying resilient and responding to challenges in a creative manner. With smart expansions and constant improvements to its products and services, there's a bright horizon not just for those holding CHO tokens but for everyone in the crypto community.
Technical indicators charts are also speaking loud and clear, with a strong expectation of CHO price climbing even higher in the near future. However, the path of crypto is never a straight line. There is a lot of fluctuation inherent in the market, so it is essential to watch for telling shifts that might signal a change of trend direction. So while the current signals might have bulls smiling, keeping a weather eye on the horizon is always wise in the ever-changing world of cryptocurrency.
Disclaimer: The information provided in this article is for informational purposes only and should not be considered as financial advice. While efforts are made to ensure the accuracy and timeliness of the information presented, the content may not be exhaustive or reflect the most current developments. Conduct your own research and due diligence and, if necessary, consult with a professional financial advisor. Neither the author nor publisher is responsible for any losses or damages arising from the use of this information. Cryptocurrency markets are highly unpredictable and past performance is not indicative of future results.
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