As a seasoned analyst with years of observing and dissecting the crypto market, I can confidently say that this current rally feels like the calm before the storm. Having witnessed numerous bull and bear cycles, I’ve learned to read the signs, and right now, they are pointing towards an exciting period ahead.
In simpler terms, the cryptocurrency sector is gearing up for an anticipated surge that it’s been aiming for over the last couple of months. Specifically, Cardano (ADA) has seen a rise of approximately 15% from its recent low point and appears to have bounced back in a pattern resembling a ‘V’.
A significant milestone has been reached at DTX Exchange, as it surpassed $2.3 million within just two weeks. The driving force behind this growth was the Shiba Inu (SHIB) community, who are gearing up for an upcoming bull market by heavily investing in the DTX Exchange. Let’s delve into the market analysis for Cardano, DTX Exchange, and Shiba Inu, exploring their short-term forecasts together.
Cardano (ADA) Above 50-Period Moving Average, Eyes For $0.4
Currently, Cardano (ADA) is showing its third period of stability near the $0.3 mark, and there’s a notable interest from buyers as the price currently hovers above the 50-day moving average. In the past day, ADA has seen a minor rise, while over the last week, it has surged more than 7%, which has boosted its market cap to approximately $12.8 billion.
Although Cardano (ADA) has made progress, it has slipped out of the top 10 cryptocurrencies due to a surge in Tron’s price. Currently, ADA stands at the 11th position. In the future, a significant hurdle for Cardano is the $0.4 resistance level. Overcoming this barrier will help clear excess supply and initiate a new upward trend.
Shiba Inu (SHIB) Bad Performance Continues, Investors Moving To DTX
Despite a wider market resurgence, Shiba Inu (SHIB) hasn’t bounced back from its low points. Over the past week, the price of Shiba Inu has been fluctuating between approximately $0.000013 and $0.000014. At present, Shiba Inu (SHIB) is hovering around its short-term moving averages of 10 and 20 without managing to surpass them.
This weakness in Shiba Inu (SHIB) has made investors change their portfolio, book some positions in Shiba Inu, and buy other potential coins with higher chances of growth in the coming rally. Shiba Inu whales have shifted their focus towards the exchange platform DTX, which can lead the rally.
Big Firm Analyst Expects 3,355% Upside In DTX Exchange
The unveiling of the Layer-1 VulcanX function on DTX Exchange has piqued the interest of major cryptocurrency investors and evaluators. This platform uniquely combines centralized and decentralized exchanges, making it the pioneering hybrid exchange that employs blockchain technology. Notably, a recent assessment by an industry firm predicts a potential increase of 3,355% for DTX, taking its price from the current $0.06 to $2.07.
As an analyst, I’m excited to share that I’ve been closely following the developments at DTX Exchange. They’ve just launched their L1 blockchain, which forms the heart of their platform. Their vision is to create a unique trading system, blending speed and security, by eliminating Know Your Customer (KYC) sign-up processes for maximum privacy.
At present, each DTX token is valued at approximately $0.06. Astute investors are swiftly purchasing these tokens in anticipation of an increase in their value. Given its promising potential and practical applications, the DTX token presale represents a chance that should not be overlooked.
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2024-09-16 19:18