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Cardano price forecast while ADA expects further losses to $0.2

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Cardano (ADA) price action has fallen more than 7% in the past seven days, as the ASIA PAC and European sessions watched in dismay as the cryptocurrency took a step back. Many traders were disappointed as the Christmas rally failed to turn out as they expected while there is no actual cryptocurrency trading day left in 2022. To make matters worse, Cardano price is receiving a blatant technical rejection that could see further declines if selling pressure mounts.

As of this writing, Cardano (ADA) price appears to be heading for a fresh low, after the token price lost 1.7% in the last 24 hours to trade at $0.2417. This is the lowest price ADA has ever recorded in a year, and the token is still likely to drop further. With that said, the Santiment data may restore investors’ hope, but the ADA bulls will have a lot of ground to cover to make Cardano trade positive again.

Cardano sellers are tired

Santiment data shows that ADA sellers are fatigued while crypto is still “undervalued.” With Cardano’s price posting lower lows and decreasing tops, Santiente indicates that the selling pressure for the ADA token continues to diminish.

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According to the Insights platform, as ADA makes a single downward move, fewer coins are marked with a loss on the Cardano network, which Santiment interprets as the strongest sign of a reversal as the bears procedurally lose their power to the bulls.

Furthermore, the accumulation of ADA by whales has been on the rise over the past six weeks, and while it is no more than what was seen in 2021, it does not indicate the short-term price action of ADA as whales tend to accumulate for the longer term.

The price is currently in danger of scaring off the last remaining herd of bulls It also happens that even this last series of the year doesn’t carry much of the risk-off feeling that was present for the better part of this year.

With the continued decline in price action and a new multi-year low, the ADA bulls have almost nothing to show for this year’s overall performance, seeing that today was the last real trading day of the year, and it was the last straw for the bulls. Sinking away, all that remains if hope For the New Year’s rally.

The downward trend in Cardano price continues with bears eyeing as low as $0.20

Cardano price analysis indicates that the downtrend may continue in the short term as the ADA is trading below all major moving averages. The bears were in control as the bulls were staring at losses all the way to the $2.0 level. On the daily chart, Cardano price is holding the bearish channel with very few green candles.

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ADA price is basically flashing red, with price action consolidating at the bottom of a descending channel range, indicating that the bulls are away from the market as the bears take over.

ADA/USD daily chart

Trading offer chart: ADA/USD

The current price at $0.2417 is based on the lower trend line of the chart pattern for decisive support. If it loses this support, ADA price could trade further to the $0.2193 support which is being embraced by the lower border of the prevailing chart pattern. In extreme cases, ADA prices may drop in search of psychological solace at $0.20.

The Relative Strength Index (RSI) is pointing down, indicating that the bears are still in control of the price as selling pressure increases. The SuperTrend indicator flashes red after closing above ADA price, which indicates that there is still more room to the downside.

But Cardano is not all lost, as bulls are eyeing the resistance offered by the 50-day simple moving average (SMA) with hope. If the bulls can increase their buying and push the price to break the resistance at $0.2797, they might have a chance to break the 50-day SMA and after that, they have a chance to challenge the resistance formed by the upper trend line of the chart pattern at $0.3346. .

The breakout of the upper trendline will be crucial for the bulls as it will confirm the bullish breakout and put the layer 1 symbol on an upward path towards $0.45.

Other icons to consider

Every trader is looking for the next significant cryptocurrency that could give them massive rewards, which makes sense considering how quickly tokens like Bitcoin (BTC) and Ethereum (ETH) have risen in value since the very beginning. However, it is important to keep in mind that since these coins have already realized the majority of their revenue, now may not be the ideal moment to invest in them again. Here are alternative investments to consider.

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FightOut (FGHT) in 2023

FightOut is the Motion 2 Earn (M2E) coding project that will lead the charge in 2023. Among many other reasons, the project does a lot and goes overboard for its users. As such, it’s hard to imagine a world where this project doesn’t do very well.

The team committed to ensuring that once users start signing up and entering their details and goals, they will enjoy an amazing experience, which will include personalized workout videos perfectly tailored to their needs, has tirelessly renewed the FightOut app.

Players will even be able to design workouts taking into account the exercise equipment the user wants to use, making sure it matches their surroundings.

Apart from the amazing workout features on the app, the exceptional thing is that users earn in-game currency (REPS) when they complete workouts while the community is growing at the same time. Another cool feature is that FightOut allows users to connect to the metaverse, allowing them to craft their own NFT avatars that will grow and evolve alongside their owners as they continue to complete their trainings. Furthermore, users can socialize or even fight other users in the metaverse using their avatars.

FightOut recently went on its pre-sale and has sold for up to $2.44 million. With Phase 1 already approaching, investors are eager to get involved at this affordable price. do not leave.

Visit Fightout here

Dash 2 Trade (D2T)

Dash 2 Trade is expected to post 20x gains before 2023, and looking at the pre-sale numbers, this could happen. The project has recorded explosive growth in the past two weeks, and the D2T coin has been a huge success. They have already raised over $11.31 million.

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The project has also come forward with other exciting news, confirming that the beta version of the platform will start on January 5, 2023, and the pre-sale will end on the eleventh of the same month. This adds to the amazing news of D2T token insurance listings on Central Exchanges (CEXs) LBank, BitMart and Changelly.

Visit Dash 2 Trade here

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Blockchain

BNT/USD is trading near the $0.50 resistance

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The Bancor price prediction shows that BNT is crossing the 9-day and 21-day moving averages while the coin is taking off to the upside.

Bancor Prediction Statistics Data:

  • Bancor price now – $0.34
  • Bancor’s market capitalization is $55.8 million
  • The circulating supply of Bancor – 162.5 million
  • The total supply of Bancor – 162.5 million
  • Bancor Coinmarketcap Ranking – #287

BNT/USD market

Key levels:

Resistance levels: $300, $310, $320

Support levels: $130, $120, $110

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BNTUSD – daily chart

BNT / USD It is currently trading at $0.345 after touching a daily high of $0.490, and is likely to return above the 9-day and 21-day moving averages. However, in case the buyers can push the price above the $0.50 resistance level, then the daily candlestick may close above this level, and the price may rise towards the upper boundary of the channel.

Bancor Price Prediction: Bancor is preparing for an upward movement

According to the daily chart, the Bancor price It is moving near the $0.40 resistance level as the coin is preparing for additional gains. The technical indicator’s RSI (14) is also moving to cross above the 50 level, where the signal line is pointing up to signal a buy signal.

However, if buyers are able to push the price and hold it above the 9-day and 21-day moving averages, Bancor price could rise towards the upper boundary of the channel to reach the potential resistance levels at $0.50, $0.55, and $0.60. While crossing below the lower border of the channel, it could lift the currency to the support levels at $0.25, $0.20, and $0.15, respectively.

Against Bitcoin, Bancor is following a bullish rally, and it could swing higher to cross above the upper boundary of the channel that could identify the resistance at 2400 SAT and above. On the other hand, if the market price crosses the lower boundary of the channel, it may reach the support level of 1800 SAT and below.

BNTBTC – Daily Chart

However, the technical indicator’s RSI (14) is currently moving to cross above the 50 level as the signal line is pointing north to confirm the upward move. Moreover, any further upward movement may create additional gains above the channel.

But, Dash 2 Trading It gives you the ability to improve your trading and scalping profits with effective crypto trading recommendations, automated trading, and analytics features. There is a D2T token pre-sale going on and time is running out. The launch of the pre-sale dashboard is coming soon as the product developer is ahead of schedule. To date, the prequel has raised nearly $12 million.

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Dash 2 Tadawul – High Potential Pre-Selling

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Dash 2 Trading
  • Active pre-sale is live now – dash2trade.com
  • Featured in Cointelegraph – $10 Million Raised
  • Know Your Customer verified and reviewed
  • The original code for the crypto signals ecosystem

Dash 2 Trading


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DYDX/USD could rise above $1.20

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Since the coin starts the upward movement towards the upside, the dYdX price forecast is likely to move steadily inside the channel.

dYdX prediction stats data:

  • DYDX price now – $1.10
  • DYDX market capitalization – $72.7 million
  • Circulating supply of DYDX – 65.5 million
  • Total supply of DYDX – 1 billion
  • DYDX Coinmarketcap Rank – #198

DYDX/USD Market

Key levels:

Resistance levels: $2.00, $2.20, $2.40

Support levels: $0.50, $0.30, $0.10

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DYDXUSD – daily chart

DYDX/USD is likely to cross above the 9-day and 21-day moving averages as the currency begins its upward movement. in the past few days, dYdX price Struggles to cross over to the positive side. According to the daily chart, the RSI (14) technical indicator moved to cross above the 40 level, confirming the bullish movement of the currency.

dYdX Price Prediction: DYDX is ready for an uptrend

the dYdX price It is currently moving north. If the currency continues its upward movement, the bulls may cross above the 9-day and 21-day moving averages, which could reach the resistance levels at $2.00, $2.20, and $2.40. At the time of writing, DYDX/USD is showing a slight bullish movement on the daily chart.

Conversely, if the coin slips below the lower boundary of the channel, it may bring the coin back to the $0.50, $0.30, and $0.10 support levels, respectively. Meanwhile, long-term buyers should not be alarmed by the small impact down the road, as the future of DYDX is assured as evidenced by the technical indicator’s RSI (14).

Against Bitcoin, dYdX price is hovering below its 9-day and 21-day moving averages as the coin is poised for an upward move. The technical indicator’s RSI (14) also confirms the upward movement as the signal line encounters the 40 level. On the contrary, a potential downside move could emerge if the market price crosses below the lower boundary of the channel, which could reach the support level 200 SAT and below.

DYDXBTC – Daily Chart

Meanwhile, any further bullish move above the moving averages could push the coin to the 1200 SAT resistance level and above, and this could take the coin to a new high, and the market could remain in the bullish zone.

But, Dash 2 Trading It gives you the ability to improve your trading and scalping profits with effective crypto trading recommendations, automated trading, and analytics features. There is a D2T token pre-sale going on and time is running out. The launch of the pre-sale dashboard is coming soon as the product developer is ahead of schedule. To date, the prequel has raised nearly $12 million.

Related

Dash 2 Tadawul – High Potential Pre-Selling

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Dash 2 Trading
  • Active pre-sale is live now – dash2trade.com
  • Featured in Cointelegraph – $10 Million Raised
  • Know Your Customer verified and reviewed
  • The original code for the crypto signals ecosystem

Dash 2 Trading


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SBF to Enter Plea Deal, Mango Exploiter Arrested, Celsius News: Hodler’s Digest, Dec. 25-31

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