The U.S. Fed minutes of July turned global markets bearish, with cryptocurrencies also being affected. Amidst the plunge in prices of cryptos, Cardano (ADA), has managed to find support at the crucial $0.25 level. But can it continue to trend upward? Meanwhile, Watchvestor (WVTR), has seen an influx of new investors looking for respite from the bear market.
Invest in Rolex, Patek Phillippe, Richard Mille, and AP for as little as $10
Cardano (ADA) Finds Support At $0.25, Can It Rally?
With the crypto market tumbling more than 10% over the last two days, Cardano (ADA) is one of the few cryptos that have managed to find support. Cardano has managed to find some support at the $0.245 level, which coincides with the 50% Fibonacci retracement level
Following its bounce at the $0.25 support, the price of Cardano has increased by more than 5%. At the time of this writing, the Cardano coin trades at $0.2653 but is still down 3% in the last 24 hours. With the trading volume on the Cardano network increasing, the uptrend looks to continue.
Also, ADA has formed a bullish divergence on the daily RSI charts, which means that the momentum indicator is making higher lows. This indicator also suggests that the selling pressure on ADA is weakening and that a reversal could be imminent.
If the Cardano price continues on this trajectory and can break above the $0.28 level – the 38.2% Fibonacci retracement level and the 20-day moving average, the uptrend will be confirmed. When this happens, the ADA price could look to reclaim the $0.33 level.
Investors Turn To Watchvestor Amidst Failing Crypto Prices
As is common in bear markets, crypto investors are turning to cryptos that could provide protection from losses. In this recent bear market, Watchvestor (WVTR) has been growing in popularity among investors as it has remained unaffected by the bearish market.
Watchvestor is a new platform that has been growing in popularity due to its uniqueness. This new platform will allow users to fractionally buy, sell and invest in rare and collectible watches from renowned brands such as Rolex, Richard Mille, and Patek Philippe.
The Watchvestor DAO would acquire timepieces that are not easily accessible to individual buyers. These timepieces would be put on its marketplace as NFTs and sold fractionally, with pieces starting as low as $10. By doing so, the project looks to involve more watch lovers in its marketplace.
Creating a unique haven for those seeking the rarest and most coveted luxury watches in the world has made Watchvestor an investor favorite. The project aims to bring together watch enthusiasts, collectors, and investors from around the globe.
As it grows in popularity, crypto experts have predicted that its utility token, WVTR, would rise in value. At this time, WVTR trades at $0.03 in its beta stage. However, crypto experts have predicted that it could reach highs of $0.5 before the year ends.
Find out more about the Watchvestor (WVTR) Presale Today:
Website: https://watchvestor.com/
Telegram Community: https://t.me/WatchvestorOfficial
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