The crypto market is buzzing with excitement as a new deFi entrant has shocked the entire crypto community with its top-notch blockchain development and viral presale performance. Investors have injected millions into this highly bullish project as it steps over Cardano (ADA) and Pepe (PEPE) amid the broader bullish market following President Trump’s victory.
According to Cointelegraph, Cardano (ADA) has experienced a significant 140% price increase in November, largely attributed to Donald Trump's reelection as the President of the States. However, technical indicators for Cardano suggest that these gains might not be sustainable, with a potential correction looming.
Cardano's ADA is currently displaying signs of a potential decline, as a bearish 'rising wedge' pattern has emerged on its 4-hour chart. This pattern, characterized by upward-sloping converging trendlines, often indicates a potential reversal to the downside. If ADA breaks below the wedge's lower trendline, the price could drop to the height of the wedge's widest part.
This would project a short-term target near $0.59 and a more extreme bearish pattern at $0.51 for the November-December period. Notably, the $0.513 level aligns with the 200-4H exponential moving average (EMA), suggesting a 35% decline from current levels. The volume has been decreasing during ADA's recent upward movement, signaling a weakening rally.
The majority of cryptocurrency analysts agree that it is just a matter of time before Pepe price jumps by 31% and hits its all-time high as the crypto bull run gains momentum. A popular crypto trader used Elliot Wave analysis on the four-hour chart to predict that the coin will soon make a bullish breakout.
He believes that it has moved to the ABC pattern and a symmetrical triangle, which is nearing its confluence level. In most periods, this pattern leads to a strong bullish breakout.
Fundamentally, traders note that PEPE is one of the most popular meme coins in the industry and that it has a real chance to flip Shiba Inu. Data shows that PEPE regularly has higher volume metrics than Shiba Inu. It had a 24-hour volume of $5.4 billion compared to SHIB’s $1.9 billion.
The daily chart shows that the PEPE coin price exploded past the crucial resistance level at $0.000017 on November 13. This was an important level since it was its highest level on March 27 and its previous all-time high. Most notably, this was the upper side of the cup and handle pattern, which is a popular sign of a continuation.
DTX Exchange’s (DTX) recent marvelous performance in its 5th presale round has sparked excitement in the bullish crypto market. Following the bullish narrative about this deFi newcomer, the platform has attracted market bulls. As AI crypto enthusiasts skyrocket DTX Exchange (DTX) to new highs, analysts are expecting it to break out with a strong rally.
Investors and retail traders and increasingly moving toward the DTX Exchange (DTX) network for its flexible investment options and first-ever unified VulcanX blockchain. The platform’s lightning-fast transaction speed makes it a standout hybrid exchange, outshining the likes of Cardano and PEPE amid the broader market rally.
This deFi network is making noise following the high-volume influx of over 160,000 users as of November 2024. Such investor participation in the network signals a strong vote of confidence from the public, accepting this new entrant as the next big thing in the crypto market. According to a crypto expert, DTX Exchange (DTX) could become the next Solana-killer in 2025.
As ADA and PEPE present mixed signals amid the broader market shift, DTX Exchange (DTX) maintains its skyrocketing presale rally at $0.10 per token. The stable growth shown by this deFi network is anticipated to go sky-high in the near term as investors from ADA and PEPE and other projects plan to move in and bag high-ticket profits.
Learn more:
Join our WhatsApp Channel to get the latest news, exclusives and videos on WhatsApp
_____________
Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.