Binance Futures Expands Market With New Token Contracts

• Binance’s new futures contracts could drive increased volatility for COOKIE, ALCH, and SWARMS.
• COOKIE’s breakout past $0.60 signals potential for further bullish momentum above $0.65.
• SWARMS shows strong bullish growth, but holding $0.50 is critical for sustained gains.

Binance Futures is launching new perpetual contracts for COOKIE/USDT, ALCH/USDT, and SWARMS/USDT. These contracts offer traders the chance to leverage up to 75x on these assets. This move can attract more traders to the platform and potentially sway price movements for these tokens. 

As the contracts go live, traders will closely monitor how these offerings impact the price action and liquidity of Cookie DAO ($COOKIE), Alchemist AI ($ALCH), and Swarms ($SWARMS). 

COOKIE Shows Bullish Momentum

COOKIE has shown impressive growth recently, gaining 12.65% in just 24 hours. The price has surged past the $0.60 mark, signaling a breakout from its previous consolidation range between $0.55 and $0.58. 

The market data also shows a solid 14.54% increase in its market cap, suggesting that investors are taking notice of the asset.

Critical support levels for COOKIE are at $0.57 and $0.60. However, the coin is testing resistance at $0.65. A break above this level could lead to further gains, potentially reaching $0.70. The new futures contract could increase trading activity and push the price past resistance.

ALCH Gains Momentum

Alchemist AI has seen a notable 17.76% increase in its price over the past 24 hours, fueled by a recent breakout above the $0.16 mark. This breakout, combined with a volume spike, suggests strong bullish momentum. 

Incidentally, the market cap of ALCH stands at $156.9 million, supporting the price rise and providing further confidence to traders.

As the price nears $0.19, the next immediate resistance level, traders will closely watch how it behaves at this point. If it clears $0.20, ALCH could see more upside potential. 

However, if the price retraces, $0.16 remains a significant support level to watch for a potential rebound. The launch of the ALCH/USDT perpetual contract could lead to greater volatility, which may affect these key levels.

Read also: Bears Swarm ADA Market Amid Hoskinson’s Recent Proposal

SWARMS Shows Rapid Growth

Swarms has been the most dynamic of the three, with a 41.99% increase in the past 24 hours. The price surged from $0.355 to a peak of $0.60, showing immense buyer interest. While a pullback has brought the price to $0.50, the strong trading volume and market cap increase suggest that SWARMS is in a strong bullish phase.

Key resistance levels are at $0.55 and $0.60. If the price can sustain above $0.50 and break through these levels, there could be further upside ahead. However, a failure to hold $0.50 could see the price retrace to $0.45 or even $0.40, depending on selling pressure.