Ethereum Knocks at $2.7K, But ADA’s 10x Potential and DTX Exchange’s VIP Rebates Steal Investor Attention
The price of Ethereum (ETH) has stabilized recently, ranging from $2,600 to $2,700. The market appears to be consolidating after a 15% spike earlier, indicating that traders are evaluating their holdings and being ready for any changes.
But when the Cardano (ADA) analyst compares this cycle to other bull market cycles, he finds that the retracement periods are longer. The researcher predicts that by the end of 2024, ADA may hit $1.70 based on this pattern. Comparable is the DTX Exchange (DTX), which is presently in its third round of presale and is anticipated to increase 100 times.
Bears are trying to dump the Ethereum (ETH) to $2500
The U.S. Federal Reserve’s decision to lower interest rates, which indicated a shift toward a more accommodating monetary policy, was the main factor driving the price increase of Ethereum (ETH).
On the other hand, seeing a larger picture, Ethereum (ETH) has dropped 33% over the last four months. This decline occurred when the much-anticipated US debut of a spot ETF proved to be unsatisfactory, leading to $684 million in withdrawals, according to Farside Investors data.
There are $1.82 billion in call options and $0.95 billion in put options among the $2.77 billion in open interest in options. Even though $1.47 billion in call options are aimed at $2,700 or higher, suggesting that bulls are in control, these positions expire worthless if Ether stays below that level until September 27.
Besides, Approximately 718,000 Ethereum (ETH) options with a notional value of $1.9 billion are set to expire. These derivatives feature a $2,500 maximum pain point and a put/call ratio of 0.47. This makes the whole crypto options expiry event the highest since the end of March, at $7.7 billion.
Cardano (ADA) rise more than 13% within the past week
Cardano (ADA) is at a vital moment as it emerges from a protracted decline, with recent market action indicating the likelihood of a strong rebound. Despite a year-to-date fall of around 37%, Cardano (ADA) has risen 13.40% in the last week, sparking concerns about a possible long-term upswing.
The weekly chart reveals the remarkable similarities between Cardano’s (ADA) pre-historic surge from December 2020 to May 2021 and its current market position. Cardano (ADA) increased by 1041%, from $0.15 to $1.77, in that span of time. The 50-day Exponential Moving Average (EMA) crossing above the 100-day EMA was a bullish indicator that set off this extraordinary rise.
Cardano (ADA) is currently trading at $0.4, and a similar EMA alignment is being formed, mimicking the configuration that preceded its previous bull run. This technical setup, together with Cardano’s (ADA) position within a descending triangle pattern, signals the possibility of a large breakout.
DTX gains the Ethereum (ETH) investor’s attention by announcing the new VIP Rebate system
As stage 3 of the DTX Exchange presale draws to a close, a significant influx of whales from well-known cryptocurrency platforms, such as Ethereum (ETH), is observed. The DTX presale has raised over $3 million as a result of the whale’s activities.
Thanks to DTX Exchange’s 1000x function, you may access liquidity like never before. You may get generational returns on single transactions with this unparalleled capital expansion, regardless of your trading style—stocks, FX, or cryptocurrencies.
Additionally, if you work with DTX Exchange (DTX) as a partner through the VIP Rebate program, DTX will pay you 3% per day in profit. Create a DTX account by logging into the presale dashboard or linking your wallet to begin your investment adventure.
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About The Author
Gregory, a digital nomad hailing from Poland, is not only a financial analyst but also a valuable contributor to various online magazines. With a wealth of experience in the financial industry, his insights and expertise have earned him recognition in numerous publications. Utilising his spare time effectively, Gregory is currently dedicated to writing a book about cryptocurrency and blockchain.
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Gregory, a digital nomad hailing from Poland, is not only a financial analyst but also a valuable contributor to various online magazines. With a wealth of experience in the financial industry, his insights and expertise have earned him recognition in numerous publications. Utilising his spare time effectively, Gregory is currently dedicated to writing a book about cryptocurrency and blockchain.
