Despite Cardano’s bullish parabolic move, experts believe that with significant development in the ecosystem, it will not be able to keep the momentum. ADA has a market cap of $34 billion, and the probability of reaching $100 billion in the short term is unachievable. The focus has been shifted to DTX Exchange, a new ERC-20 coin revolutionizing how trading is perceived. After the launch, DTX Exchange can surpass giants like Avalanche and Cardano.
Cardano (ADA) Volume Declines Amid Pullback
Cardano (ADA) is trading at $0.9, down 10.21% in the last 24 hours. ADA has shown impressive growth, with its price surging 200%+ since early November. However, ADA price has entered a consolidation phase, losing some of its momentum in the market. The local support for ADA is $0.82, with major support at $0.7.
Image – CoinMarketCap
The Relative Strength Index (RSI) for ADA is 78, indicating a heavily overbought sentiment. A dip below $1 raises questions about how much further it might fall. The declining Cardano price volume suggests reduced interest, increasing the chances of a downward trend. In the ongoing sell-off, Cardano has to remain focused on developmental progress, a crucial factor for sustaining the ADA price rally.
Avalanche (AVAX) Forms Bearish Rejection Candle
The market correction has broadly affected major coins, including Avalanche. On Monday, AVAX tried to break the upper resistance of the mini bull flag. It faced heavy supply near the $50 resistance zone. The rejection took the Avalanche price from a high of $47.93 to a low of $40.02, a significant 15% intraday drop. This rejection has turned AVAX’s short-term outlook to mildly bearish.
However, the moving average convergence divergence (MACD) is sloping upwards, which is a good sign; if it forms a bearish pattern, Avalanche could see further selling. If the AVAX price forms another bearish leg, the $38 last breakout level is near support.
Market Correction Fuels DTX Presale, 100X Coming!
As excitement for DTX Exchange builds, particularly from major communities like Cardano and Avalanche, the hybrid trading platform is capturing interest as the significant DeFi players bring novelty and efficiency to Web3.
DTX Exchange has developed the most unique product in the crypto market and carries the first mover advantage. DTX Exchange provides trading in 120,000+ trading instruments in different assets like ETFs, stocks, crypto, commodities, etc. None of the existing trading exchanges allow traders to trade instruments in multiple assets, but DTX is changing that with the hybrid protocol.
DTX’s VulcanX blockchain brings this feature into the ecosystem and is responsible for fee reduction. DTX Exchange also provides 1,000X leverage without going through any KYC procedure, which keeps users safe from identity theft.
The Exchange has received the green flag from the auditing company SolidProof, making it the most secure project. Even before the launch, DTX Exchange proved its excellence by registering over 200,000 users in less than two months.
DTX Exchange is drawing strong interest from investors, with over $8.7 million already raised. In November, DTX is priced at an appealing $0.1, offering a great chance for early buyers. Experts predict its value could surge by up to 10,000% within 6 to 8 months of launch.
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