GHOST extends rally as whale scoops 4.8 million tokens – Crypto News – Crypto News
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GHOST extends rally as whale scoops 4.8 million tokens – Crypto News

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  • GHOST bullish as privacy cryptocurrencies gain traction.
  • It is attracting large investors after gaining more than 60% the previous week.
  • The alt maintains a bullish stance as a whale accumulated 4.8 million tokens.

GHOST is among the few tokens with an upside trajectory as the overall cryptocurrency market displays significant selling pressure.

The digital token thrived in the past few sessions as privacy cryptocurrencies gained increased traction, with Zcash leading the trend.

Meanwhile, GHOST’s remarkable performance is grabbing the attention of dip-pocketed investors.

For context, the alt surged roughly 65% over the past seven days.

According to Lookonchain, a new wallet withdrew 523.39 SOL, worth approximately $100,500, from Binance to buy around 4.8 million GHOST coins over the past 24 hours.

The transaction has stirred speculation due to its timing. Should we expect continued rallies from the altcoin?

The entry appears strategic as it comes amid bullish price actions, likely signaling conviction of extended upsurges for GHOST.

About Ghost

Ghost is a decentralized platform aiming to transform the crypto world with privacy.

The network uses GHOST as its native token. The ecosystem allows individuals to transact anonymously and privately.

While assets like Bitcoin have all their transaction history publicly available, Ghost obfuscates transactions across the network.

It hides transaction details on the senders and receivers’ ends to guarantee maximum privacy.

The altcoin remained in the spotlight in recent sessions as privacy tokens gained increased attention.

For instance, Zcash soared nearly 400% in October as the entire crypto sector struggled with uncertainty. GHOST gained around 115% the previous month.

Whale fuels optimism

The whale transfer has sparked the Ghost community, with social posts mentioning the token gaining attention.

While some questioned the whale’s motives, others perceive the accumulation as a sign of trust in the project.

Trading volumes mirrored the enhanced sentiments. GHOST’s daily trading volume skyrocketed by more than 600% to $2.81k.

That reflects renewed user interest in the digital currency.

Also, Ghost appears to have adequate liquidity on decentralized exchanges. That suggests that organic demand is fueling GHOST’s rally.

GHOST price outlook

The alt maintains an optimistic outlook, changing hands at $0.06215 at the time of writing.

It has gained over 65% and roughly 115% the past week and month.

Technical indicators point to further rallies for the alternative token.

For instance, GHOST is hovering well above the vital 50 and 100 Exponential Moving Averages on the 4Hr timeframe.

That indicates a reliable support barrier for the digital asset.

The Moving Average Convergence Divergence displayed a bullish crossover with robust green histograms.

GHOST will possibly extend its rallies before cooling.

The 4Hr Relative Strength Index reads 72, highlighting overbought situations and the possibility of imminent corrections.

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