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The cryptocurrencies Near Protocol (NEAR) and Avalanche (AVAX), are observing a calm period after a recent rebound in the cryptocurrency market. However, their price actions are not impressive and with a breakdown to lower levels; it will be an indication of a bearish trend initiation for Near Protocol (NEAR) and Avalanche (AVAX).
Low-risk cryptos with possible high returns like Near Protocol (NEAR) and Avalanche (AVAX) was in initial days have caught the attention of investors from every corner of the community. DTX Exchange is among them; in less than two months it has raised over $1.2 million in funding as well as $2 million privately during seed round. Investors are calling it a safe haven due to its future capabilities.
Near Protocol (NEAR) has made three lower lows from the start of the downtrend: the first in April, the second in June, and the current one is the third lower low. According to technical analysis, this could be the final low of the down move for Near Protocol (NEAR).
In conjunction with the LL, Near Protocol (NEAR) is also trading in the oversold region with an RSI of 30, which is usually an indication of a reversal coming soon. In the last 24 hours, Near Protocol (NEAR) has decreased by 1.34%, bringing its market cap down to $4.1 billion. If this negative momentum continues, there will be another lower low in Near Protocol (NEAR).
Like Near Protocol (NEAR), Avalanche (AVAX) shows negative price movement. Its price dropped 3.18% in the last 24 hours, while its volume fell 17.30% during the same time. AVAX trades at its 6-month low now, and if it keeps falling, the Avalanche (AVAX) price might hit its 52-week low.
Avalanche (AVAX) is trading below the 50-day and 200-day moving averages, which indicates bearish strength in the AVAX price. The movement in the coin suggests caution and looking for opportunities in the market.
Robinhood and Binance are the biggest exchanges in the world for stocks and cryptos, respectively, but DTX Exchange has the feature of both, which makes its positioning unique in the market.
DTX Exchange is a single platform that provides all the assets to trade and invest in, such as stocks, cryptos, CFDs, forex, etc. DTX Exchange has become the biggest competition for traditional exchanges like Robinhood and Binance and is expected to disrupt the industry in 2024.
With various asset options to trade, DTX Exchange also provides 1,000x leverage and 0.04 seconds high speed which makes trading much more efficient.
DTX is currently trading at 0.04, which is expected to reach $0.75 by the end of 2024, which will have an ROI of 1,775% in a few months.
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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.
