Despite the bullish parabolic movement of Cardano, experts believe that with significant development of the ecosystem, it will not be able to maintain its momentum. ADA has a market capitalization of $34 billion and the likelihood of reaching $100 billion in the short term is unrealizable. The focus was on DTX Exchange, a new ERC-20 coin that is revolutionizing the way trading is viewed. After launch, DTX Exchange may 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 rising more than 200% since the beginning of November. However, ADA price has entered a consolidation phase, losing some of its momentum in the market. Local support for ADA is at $0.82, with major support at $0.7.
Image – CoinMarketCap
The relative strength index (RSI) for ADA is 78, indicating significant overbought sentiment. A drop below $1 raises questions about the extent of this drop. Cardano’s declining price volume suggests reduced interest, increasing the chances of a downtrend. In the ongoing selloff, Cardano must remain focused on development progress, a crucial factor in keeping ADA prices rising.
Avalanche (AVAX) forms a bearish rejection candle
The market correction has largely affected major coins including Avalanche. On Monday, AVAX attempted to break the upper resistance of the mini bull flag. It faced significant supply near the $50 resistance zone. The rejection sent Avalanche price from a high of $47.93 to a low of $40.02, a significant intraday decline of 15%. This rejection has made AVAX’s short-term outlook slightly bearish.
However, the Moving Average Convergence Divergence (MACD) is sloping upward, which is a good sign; if it forms a downtrend, Avalanche could see further selling. If AVAX price forms another bearish leg, the latest breakout level of $38 is close to support.
Market Correction Fuels DTX Presale, 100X Coming!
As enthusiasm for DTX Exchange grows, especially from major communities like Cardano and Avalanche, the hybrid trading platform is generating interest as major DeFi players bring novelty and efficiency to Web3.
DTX Exchange has developed the most unique product in the crypto market and has first mover advantage. DTX Exchange offers trading in over 120,000 trading instruments across different assets such as ETFs, stocks, cryptocurrencies, commodities, etc. None of the existing trading exchanges allow traders to trade instruments across multiple assets, but DTX is changing that with the hybrid protocol.
DTX’s VulcanX blockchain introduces this functionality to the ecosystem and is responsible for reducing fees. DTX Exchange also offers 1,000x leverage without going through any KYC procedures, which protects users from identity theft.
The Stock Exchange received the green flag from the auditing company SolidProof, making it the most secure project. Even before its launch, DTX Exchange has proven its excellence by registering more than 200,000 users in less than two months.
DTX Exchange is attracting strong interest from investors, with over $8.7 million already raised. In November, DTX price is attractively $0.1, providing a great opportunity for early buyers. Experts predict that its value could increase up to 10,000% within 6-8 months of its launch.
Learn more:
Buy in presale
Visit the DTX website
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