Cardano (ADA), DTX Exchange (DTX), and Ethereum (ETH) – The Best Cryptocurrencies to Invest in Now

Cardano (ADA), one of the latest DeFi coins in the market, could soar to $6 soon according to a top analyst.

Cardano (ADA) Might Hit $6 Soon, As Analyst Compares Its Past And Present Cycles

Cardano (ADA), one of the latest DeFi coins in the market, could soar to $6 soon according to a top analyst. The analyst noted that ADA is mirroring the price trajectory from the 2020/2021 period. In other news, a new DeFi project called DTX Exchange (DTX) is making waves across the market.

The project has welcomed over 300k wallet addresses while giving early investors 500% returns on their investments. Those who missed out at the beginning still have a chance to join now and get up to 10x returns after launch. Meanwhile, an analyst forecast the value of Ethereum (ETH) could soar to $10k next year.

Cardano (ADA) Price Analysis

Ali Charts, a popular crypto analyst, has pointed out some striking similarities between Cardano’s (ADA) current price trajectory and its past cycles. According to his analysis, the first major pullback after the 2020 bull run happened at the exact same time as the current pullback. Due to this observation, Ali forecasts that the Cardano price could possibly reach $6 in the near future.

Another analyst going by the name of Coinvo also posted a technical analysis chart on TradingView that showed the Cardano crypto falling inside a descending channel. Coinvo noted that a breakout could occur soon. They expect the value of the Cardano coin to rise to $1.4 if this happens.

At the moment, the altcoin price has witnessed a sharp correction, falling below the $1 mark. It has been consolidating between $0.7694 and $1.11 in the past week. During this period, the value of ADA dropped by 15.0%.

Despite the recent bearish momentum, some of its technical indicators are still bullish. The Hull Moving Average (9) for instance, displays a buy signal which could mean bulls are gaining momentum.

Coinvo’s analysis also showed that the 14-day relative strength index is displaying a bearish divergence from the price. This divergence usually occurs when the price makes a higher high while the RSI forms a lower high. Such an occurrence is often seen as a sign of weakness in the bullish momentum.

If the bears continue to push the price down, support levels are present at $0.74 and $0.63. On the other hand, if the bulls manage to gain control, resistance levels lie at $1.1 and $1.3.

Ethereum (ETH) Price Analysis

Ethereum (ETH), the largest altcoin by market cap, has succumbed to the ongoing correction in the crypto market. Data from CoinMarketCap shows that the Ethereum price dropped from $4k on December 17. Since then, it has been consolidating between $3k and $3.8k.

The altcoin’s technical analysis also shows that bears are in charge of the market. For instance, the 14-day relative strength index has dropped below the midline. Additionally, the Hull Moving Average (9) and VWMA (10) show sell signals which means selling pressure is high.

Nevertheless, analysts believe a trend reversal could occur soon. Wolf of All Streets, a crypto analyst, noted that the Ethereum crypto might be forming the right shoulder of a head and shoulder pattern. According to them, this formation might provide the momentum needed to break the $4k barrier.

Wolf predicted that this breakout could occur in January although there might be little price retracements. If this happens, the analyst expects the Ethereum price to hit $10k by May.

Best Crypto Presale To Buy Now For 10x Returns In 2024

As the new year approaches, many investors are searching for the best crypto presale to buy. One project that has attracted a lot of attention is DTX Exchange (DTX).

The platform merges the best of both CEX and DEX to provide traders with a unique hybrid trading experience. Together with its powerful feature, easy-to-use interface, and strong security measures, more and more traders are joining the platform to improve their trading results and reach their financial goals.

Moreover, DTX Exchange does not collect personal information from its users. This is a commitment to user discretion that gives traders the confidence to trade without the usual woes of identification verification procedures.

Apart from the trading services, DTX Exchange has an exciting staking solution giving the token holders high APYs of up to 15%. It also encourages the users to remain within the community and take an active part in the development of the whole DTX system.

Currently trading at $0.12, analysts forecast the value of the DTX coin might pump by 10x soon, making it the best cryptocurrency investment now.

Can DTX Exchange Compete With Top Altcoins Like Ethereum (