The crypto market is coming into full mode for what it’s been trying for the past few months – a fresh rally. Cardano (ADA) has increased around 15% from the recent swing low and has given a V-shaped recovery.
Another major value unlocking is happening in DTX Exchange (DTX), which has crossed the $2.3 million mark in two weeks. The major contributors were the Shiba Inu (SHIB) bulls, who are preparing for the bull market by betting high in the DTX Exchange. We will discuss the market analysis of Cardano, DTX Exchange, and Shiba Inu and their short-term outlooks.
Cardano (ADA) Above 50-Period Moving Average, Eyes For $0.4
This time is the third time base support of Cardano (ADA) around the $0.3 zone, and the demand has also been strong as the price is now sitting above the 50 DMA. In the last 24 hours, Cardano (ADA) has increased slightly, while in the last seven days, it has increased over 7%, pushing the market cap to $12.8 billion.
Despite the gains, Cardano has lost its position in the top 10; the recent incline in Tron’s price has pushed it out of the top 10 list. Cardano (ADA) is currently ranked #11th. Going forward, $0.4 is a psychological resistance level that Cardano has to face to clear the overhead supply and start a fresh trend.
Shiba Inu (SHIB) Bad Performance Continues, Investors Moving To DTX
We have seen a broader market recovery; despite this, Shiba Inu (SHIB) has not recovered from its low. Since last week, Shina Inu’s price has been trading in the $0.000013 to $0.000014 range. Shiba Inu (SHIB) has not yet cleared the short-term moving averages of 10 and 20 and is trading around it.
This weakness in Shiba Inu (SHIB) has made investors change their portfolio, book some positions in Shiba Inu, and buy other potential coins with higher chances of growth in the coming rally. Shiba Inu whales have shifted their focus towards the exchange platform DTX, which can lead the rally.
Big Firm Analyst Expects 3,355% Upside In DTX Exchange
The launch of the Layer-1 VulcanX feature in DTX Exchange has caught the attention of crypto whales and rating agencies. DTX Exchange brings centralized and decentralized exchanges into one place, making it the first hybrid exchange with blockchain technology. Recently, a report by a firm announced that they see a 3,355% upside potential for DTX from the current price of $0.06 to $2.07.
DTX Exchange’s recently introduced L1 blockchain will be the core of its platform. It aims to offer a hybrid trading system with fast transactions, no KYC sign-up requirements for full privacy, and access to over 120,000 asset classes, including gold, stocks, and cryptocurrencies. This setup could attract millions of traders to the DTX Exchange.
In the current stage, each token is priced at just $0.06, and savvy investors quickly buy them before the price goes up. With strong potential and real-world use cases, DTX tokens are a presale opportunity not to miss.
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