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The crypto market has witnessed another correction once again after the pump on Sunday, forcing the Ethereum price to fall to $2k. The value of the Cardano coin has also dropped to the $0.7-$0.8 region. While some investors are getting nervous, others are switching to a new promising altcoin called DTX Exchange (DTX).
The price of this new entrant has risen by over 800% in the last few months, outshining most top altcoins in the market. Currently, in the ninth phase of its crypto ICO, the price of DTX will rise by 2x after launch, attracting investors.
After soaring to a weekly peak of $2.5k on March 2, the Ethereum price has seen a sharp decline back to the $2k level. CoinMarketCap data currently shows the Ethereum price has plummeted by 18.6% on the weekly timeframe and 35.5% on the monthly chart. However, technical analysis indicates that bulls are still in charge.
The Hull Moving Average (9) and VWMA (10) are in the buying territory which supports an Ethereum price rally. Looking ahead, Ali Martinez told his followers the Ethereum price faces critical resistance around the $2.4k level. If the Ethereum price surpasses this level, it could surge towards $3k in the weeks ahead.
Another analyst called Mister Crypto says the Ethereum price is trading in a massive consolidation phase. They expect a rally to occur soon which might push the Ethereum price to $8.3k and $17k in the long run.
The Cardano price has witnessed a sharp decline after soaring to the $1 region recently. It appears there is a strong resistance around this region as bulls failed to keep the Cardano price afloat. Presently, data from CoinMarketCap indicates the Cardano price has dropped to the $0.7-$0.8 range.
Despite the correction, the Cardano price is up by 14.2% on the weekly chart. However, it has dropped by 11.5% on the monthly level. In terms of future trajectory, CryptooELITES forecasts the ADA price could pump to $2.50 and $3 in the coming months. Another analyst, AltCryptoGems expects the Cardano price to rise to $1.9.
In the meantime, technical analysis shows that most indicators support an upsurge. The Hull Moving Average (9) and VWMA (10) are flashing buy signals which means that bulls are in charge. So, the market might experience a Cardano price surge in the next few days.
Although the recent correction in the market has affected the Ethereum price trajectory, the DTX coin remains resilient. Its price is trading at $0.18, an increase of 800%. With the listing price set at $0.36, those who invest in the DeFi token will double their investment upon launch. At its core, DTX Exchange (DTX) is a unique platform that bridges the best of centralized and decentralized exchanges.
DTX is different from other exchanges because it provides a single point of access to trade cryptocurrencies, stocks, forex, and ETFs. It runs on the VulcanX blockchain with the capability of processing 200,000 transactions per second. This gives traders access to fast and efficient trading experiences. The DeFi project also has a non-custodial Phoenix Wallet which gives users full control over their assets, thus increasing the level of security and trust.
One of the major features is tokenized ETFs that allow users to invest in diversified portfolios easily. This innovation enables users from more than 80 areas to invest in assets that were previously unattainable. Also, it provides up to 1000x leverage, which allows traders to increase their stakes, making it suitable for both new and experienced investors.
Although the Ethereum price could rise in the coming months, investors have found interest in a new low-cap coin called DTX Exchange. Over 700k users have joined the platform which seeks to offer users access to more tradeable asset classes at low fees and top speed. So, investors who want to grow their portfolios could join the project's cryptocurrency ICO before it ends.
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Disclaimer: Analytics Insight does not provide financial advice or guidance on cryptocurrencies and stocks. 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. This article is provided for informational purposes and does not constitute investment advice. You are responsible for conducting your own research (DYOR) before making any investments. Read more about the financial risks involved here.
