Cardano (ADA) Tussles to Maintain Bullish Momentum as it Moves Below the 50 EMA Resistance Level

Cardano needs help to maintain its position in the dynamic world of cryptocurrencies. ADA tussles to maintain its bullish momentum as it moves below the 50

Cardano (ADA) is struggling to maintain its bullish momentum as it trades below the 50 EMA resistance level. Moreover, ADA never broke through the 200 EMA in the first place, making Cradano one of the worst performing assets during this bull run.

The 50, 100, and 200 EMAs are offering significant resistance to Cardano. Moving average convergence in such a bearish zone warns of a sustained downtrend and a breakdown in the bullish momentum. The price is now hovering around a crucial support level at $0.45 for Cardano. A breakdown below this level could trigger further declines.

Bearish momentum in Cradano is pushing investors to expand their options. DTX Exchange seems to be a major break for the Cardano investors with its 100X ROI. The platform has managed to attract $125K investment from ADA investors thanks to its strong presale performance.

Cardano's Technical Strengths Not In Sync With Market Sentiment

Crypto experts are pinpointing the core issue behind Cardano. They define that the main problem ADA is facing is that its product needs to be aligned with the sentiment of the market at large.

Investors are looking for something other than a platform with high decentralization, low technical requirements for validation, zero downtime, and liquid staking. This observation, thus, reveals a mismatch between Cardano's technical advantages and the prevailing preferences of the market. The lag leads to the prevalence of a downtrend for ADA.

Cardano began a downtrend in recent sessions after it failed to break through the $0.4750 resistance. ADA fell below the $0.4620 level and tested the crucial support at $0.4520.

At $0.4516, a low is established, and the ADA price is currently consolidating losses. On the hourly chart of the ADA/USD pair, a break above a connecting bearish trend line with resistance at $0.4570 is formed. The pair tested the 23.6% Fib retracement level of the recent decline from the $0.4743 swing high to the $0.4516 low.

Cardano is now trading at $0.4627. Its price movements and the soaring DTX presale have caused the ADA investors to invest $125K in the DTX blockchain.

Experts View DTX Exchange As The Best Investment With 100X Potential

DTX Exchange is an emerging trading platform with a distinct feature set. This platform is the first to offer 1000X leverage without requiring KYC (Know Your Customer) information. Distributed liquidity pools are used by the platform to improve liquidity and lower slippage. The non-custodial wallet strategy used by DTX Exchange upholds security and decentralization ideals.

As stage 2 continues, DTX’s recent presale success—which raised over $580,000—becomes even more significant. It will be available for purchase in the upcoming DTX presale phase for $0.06 per piece. The possibility of exponential gains captivates investors in DTX’s new blockchain. The DTX token is currently valued at $0.04.

In efforts to facilitate investors, DTX has eliminated its gas fees in the VulcanX update. With the giveaway announcement, investor interaction with DTX Exchange has increased substantially. Traders and investors are in a good position to seize this opportunity, especially in light of the announcement of the DTX blockchain. The platform offers investors a significant potential return on investment, allowing them to realize large profits.

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