Blocktix (TIX) is currently setting new standards in the cryptocurrency market. A surge of over 86% in a generally bearish market is not only impressive it is shocking as well. TIX/USD is exchanging at $0.29 following an amusing upward roll where it has added 86.5% on its value. In the last 7 days Blocktic token has corrected 47.23% higher against the US dollar.
The exchange trading volume has increased significantly in the same period (7 days) from $172,814 to the current 24-hour volume of $38 million. The same surge is also reflected in the crypto’s market capitalization which has increased greatly from $6.2 million to $11.8 million. Blocktix token (TIX) is heavily traded on Upbit cryptocurrency exchange in TIX/KRW trading pair. The exchange controlled 93.81% of the total Blocktix volume in addition to a 3.71% in TIX/BTC on the same exchange. Other exchanges where TIX is a tradable instrument include Bittrex, HitBTC and Cryptopia.
Blocktix (TIX) Price Analysis
The $11.8 million cryptocurrency, currently ranked 309 in the market according to the data on CoinMarketCap has defied the negative pressure coupled with the consolidation that is holding back most coins and altcoins. The market has in the last two weeks exemplified stability while avoiding huge movements in either direction. However, for coins like Blocktix, these consolidation and widespread negative pressure have been kept at bay. One Blocktix token was exchanging at $0.1591 at the opening of the session on October 10.
The price remained range-bound below the resistance at $0.18, at the same time, supported by both the 50 and the 100 Simple Moving Averages (SMA) on the 15-minutes chart. Significantly, a break out of the resistance range triggered a surge in three bullish engulfing candles. TIX/USD recoil stepped above $0.3 and $0.32 before coming to a halt at $0.3335. Bearish correction followed as bulls lost momentum but a support was established at $0.26. There is a short-term bullish flag pattern in formation pending another upside break that is likely to break the stubborn resistance at $0.34.
At press time, Blocktix (TIX) is trading above the moving averages, both of which will offer support at $0.21067 and $0.1852. The stochastic oscillator is retreating to the upside while the DMI on the same chart is ranging indicating that the bulls have the say and that the path of least resistance is upwards sideways in the short-term.
About Blocktix (TIX)
Blocktix is a cryptocurrency platform that has been designed to support remarkable events in the industry. The platform offers event facilitation by connecting event organizers to a community that is incentivized and by doing so they are able to bring down event hosting costs by up to 90%.
“The platform is a direct link to an active community financially incentivized to engage with your advertising, vett your events and more.”
By utilizing Ethereum-based blockchain, the platform is able to provide a solution that is not only simple but also secure for distributing counterfeit-proof event tickets. Blocktix (TX) also supports trustless p2p transfers of ownership. The smart contracts used are provably secure because they are taken through rigorous audits from external sources. Incentivized events help to eliminate spam while reducing ticket scalping.