Dogwifhat (WIF) and Cardano (ADA) are both facing market volatility despite the continuous downtrend of more than five months. Meanwhile, the new market entrant DTX Exchange (DTX) is leading the market with its outstanding presale. The recent testnet launch of the blockchain has led to more inflow of money. That’s because it indicates that the DTX will launch very soon.
The Dogwifhat and Cardano (ADA) investors have booked their positions as the drawdown in the coins increases. They are investing the funds in newer opportunities like the DTX Exchange.
Falling Wedge Pattern In Dogwifhat (WIF) In Weekly Timeframe
From Feb to March this year, Dogwifhat rallied, forming a peak of $4.85. Since then, it has been in correction mode for more than 22 weeks. From the top, WIF followed a falling wedge pattern and bounced thrice from the lower trendline of the wedge pattern. It is just above the same support trendline, making it a critical zone.
The breakdown from the trendline can push the coin to a low and eventually to the launch price. Still, if WIF can bounce off the lower support level, it can go to the upper resistance of the wedge pattern around the $2.2 level.
Consecutive Red Candle In Cardano (ADA)
Cardano has dropped over 11% in the last seven days but is still slightly green in the last thirty days. The new downtrend in the ADA price started after it made the last swing high. From there, it has been continuously in bearish mode. Now, it is trading below the 10-period moving average, the most minor average indicator indicating high seller participation.
The $0.2785 mark is the next major support level for the ADA price. The coin can hold it before making a new low. The two resistances on the upper side are $0.36 and $0.4 levels. The moving average convergence divergence indicator again fell below the middle line. That suggests a negative outlook in the ADA coin.
DTX Exchange (DTX): Futuristic Company Highly Undervalued
DTX Exchange’s upcoming transformation is poised to significantly impact the $10 billion global trading market. The exchange will introduce a hybrid model that blends the best features of centralized and decentralized exchanges. Users will gain access to thousands of asset classes across crypto, stocks, and bonds, including tokenized financial instruments.
One of the standout features of DTX Exchange is the 1000x leverage it offers, enabling traders to achieve substantial returns with minimal investment. By integrating aspects of both centralized and decentralized platforms, DTX removes traditional trading barriers and eliminates the need for KYC (know your customer) requirements, providing a seamless trading experience.
These advantages have already helped DTX Exchange raise over $2.2 million in its presale, expected to reach $3M by the end of September 2024. Currently, DTX is priced at just $0.06 in Stage 3, offering a 200% ROI for early investors. Experts anticipate that the price could rise to $2 once a Tier-1 CEX lists this DeFi coin in 2024 end.
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