Chainlink (LINK) and Cardano (ADA) are considered crypto giants due to their market position and uptrends. However, their recent price actions have come as a surprise to the market experts. Despite a neutral market sentiment, both Chainlink (LINK) and Cardano (ADA) are trending downward.
These market actions have caused panic among investors who are seen shifting to DTX Exchange as these altcoins slump. DTX Exchange has been gaining traction ever since the testnet launch. The platform has become undefeatable in the DeFi space thanks to its innovative features and unmatched potential.
Let’s explore the price actions of Chainlink (LINK) and Cardano (ADA), coupled with DTX’s soaring presale!
Chainlink (LINK) Under Immense Selling Pressure
Chainlink (LINK) has been struggling to maintain its momentum since the second quarter of the year, facing increased selling pressure and uncertainty. With network activity weakening and technical indicators pointing to potential further losses, Chainlink’s (LINK) ability to hold above critical support levels is under scrutiny.
Several factors could drive Chainlink’s (LINK) price below $10 in the coming days. These majorly include low network activity and in/out of Money Indicators.
Chainlink (LINK) is facing challenges as its price diverges from daily active addresses, indicating weakening user engagement and the potential for further decline. Analysis shows that many Chainlink (LINK) addresses are at a loss, with a significant number of purchases around $10.52, suggesting limited support and potential for a price drop to $9.72.
Though Chainlink (LINK) recently broke out of a bearish pennant, it has failed to maintain gains, indicating possible further declines unless broader altcoin market conditions improve.
According to CoinMarketCap data, Chainlink (LINK) is trading at $10.79, after surging by 3.40% in the past day but decreasing by 9.17% in the past week. With the three factors mentioned above, it is expected that Chainlink could further push below $10.
Cardano (ADA) Faces Turbulence In Q3!
Cardano (ADA) is one of the biggest cryptocurrencies in terms of market value, but it is not performing well in the current session. This year, it did not perform up to expectations, and investors were not drawn to even the most recent network update. Moreover, losses against BTC have exceeded 75%.
Relative to Bitcoin, Cardano (ADA) has experienced considerable losses while trading inside a collapsing wedge formation. Cardano (ADA) may rise to the wedge’s height if it can break through the upper trend line. The short-term decline in capital influx into altcoins makes it appear as though Cardano (ADA) will have a very hard time finding stability.
The collapsing wedge, on the other hand, indicates a potential 25% loss. This 25% loss for Cardano (ADA) will be substantially more in terms of dollars if BTC also declines. An analysis of the daily active and new addresses paints a rather pessimistic picture of Cardano’s (ADA) future.
DTX Exchange (DTX): The Rising Sensation Of DeFi Space!
DTX Exchange (DTX) is a new tradFi sensation, renowned for its 1000x leverage feature and AI-backed automation. The platform gives traders access to extensive risk management tools, real-time analytics, and the capacity to leverage investments from greater market positions with the least amount of cash needed to maximize profits. It also streamlines investor’s interests in unpredictable markets.
The revolutionary DTX’s hybrid platform, which features non-custodial wallets and decentralized protocols like KYC-free onboarding, is secure as well as safe. DTX gives traders access to over 120,000 digital assets from a variety of financial markets, such as stocks, FX, shares, commodities, and cryptocurrencies, enabling them to make informed decisions and plans.
With a remarkable $2.2 million raised in the third round of the public presale, the initiative has garnered significant interest from large whales. The presale has seen a notable increase in demand at $0.06 since its testnet launch. Statistics indicate that the DTX token may surpass $1 once it launches on significant CEX platforms, making this an excellent moment to invest in the next market leader and offering early adopters a 100x return on investment.
Key Takeaways
Chainlink (LINK) and Cardano (ADA) investors find haven in DTX Exchange’s meteoric rise as the former two continue to slump in the current session. DTX Exchange creates a buying frenzy with its innovative features and testnet launch!
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