Tension between Israel and Iran has impacted the cryptocurrency market. After the recent recovery, major cryptos have returned to their support levels. After crossing the $0.4 resistance level, Cardano (ADA) slid back under the base, falling below all the short-term moving averages.
Meanwhile, DTX Exchange (DTX) is topping the gainers list amid the market fall. DTX raised around $500k last week, reaching $3.5 million. This signifies the coin's strength; as other coins are suffering, DTX is standing tall.
Cardano (ADA) whales were major contributors to these gains, as they booked their positions and shifted the funds towards DTX Exchange. We will discuss the factors that make DTX a high relative strength coin in the bearish sentiment and the events around Cardano.
The 25% long rally in the past two weeks in Cardano (ADA) ended with a sharp fall of 15% from the top. On Tuesday, Cardano (ADA) surged past the $0.362 mark and surpassed expectations. The breakout consolidation was also significant, reaching a high of $0.4. Nonetheless, after achieving a peak of $0.415, the ADA price plunged to $0.35.
Cardano (ADA) is now below its 20- and 50-period moving averages, reflecting bearish price power. In the fall, the coin's RSI dropped from 68 to 47, taking it to a region near the oversold region. The current level is the demand zone for the Cardano price, and if the demand picks up, we can see it making new highs.
Also, in the latest news, BitGo, a major digital asset custody provider, has extended its services for a Cardano (ADA) stablecoinUSDA. The combined impact is focused on delivering a better and safer alternative for the Cardano blockchain. The new secure stablecoin solution built on the Cardano blockchain will add a new security robustness layer and functionality to USDA by integrating it into a more advanced financial infrastructure.
Major fund flow shifts are happening in high RS names like DTX Exchange. In October, the DTX Exchange will close its current stage and enter the 4th stage with a price valuation of $0.08.This announcement has resulted in high demand for the coins, which are available at a cheap price of $0.06. DTX token has gained 200% in the last month, and analysts expect another 250% by the end of November.
The VulcanX blockchain, designed for DeFi applications and capable of processing 100,000 transactions per second, achieves this. The DTX ecosystem comprises a dedicated wallet, decentralized applications, and a trading exchange. Easy onboarding is a feature that differentiates DTX from other DeFi protocols through its user-friendly approach, distributed liquidity pools, 1000x increased buying potential, and community-first strategy.
The platform's new rebate program rewards large holders with a share of the profits from trading fees.
With over 96,000 retail signups, DTX Exchange is growing quickly. Its presale offers traders a chance to join early in what could be a billion-dollar platform.
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