The recent bounce has given good momentum to projects with high potential, like DTX Exchange (DTX). DTX has crossed the $2.5 million market in just one month, while Cardano (ADA) and Dogeocoin (DOGE) are struggling to hold their levels.
Demand surged in DTX Exchange after the launch of their recent layer-1 protocol, VulcanX. This upgrade brought many new features to the ecosystem. We will discuss the major upgrades in DTX Exchange and the price action for Cardano (ADA) and Dogeocoin (DOGE).
Dogecoin (DOGE) In a Mini Channel: Will It Breakout?
At the end of August, Dogecoin (DOGE) was rejected from the 50-period moving average, and after falling over 15%, it has been trading in a small channel. Currently, Dogecoin (DOGE) is at the upper resistance of the channel, trying to break out of it, but the price action shows weakness in price making in wicks on both sides of the candles.
Another major point for Dogeocoin (DOGE) is that it is currently above the major support level of $0.94. If the coin breaks down from this support level, the next demand zone will be around $0.89. The 10-period moving average is working as resistance right now, and a break of it can lead to another downtrend in Dogeocoin (DOGE).
Cardano (ADA) Rejects From 20-Period Moving Average
The $0.31 level has again worked as a demand zone for Cardano (ADA); from bouncing off the level, it is up more than 10%. However, after a breakout in a 4-hour timeframe, Cardano (ADA) was rejected from the upper levels with the 20 EMA. This signifies the weakness in the Cardano (ADA) price, as there is no follow-through of the breakout.
Also, the volume has decreased in the recent upmove, which shows the lesser participation of buyers in the uptrend. Cardano (ADA) is now in the critical zone. If the breakout fails, it will be again in the previous consolidation base, with support at around $0.30 – $0.31.
DTX Exchange (DTX) Beating Market With Unmatched Features
While market leaders like Cardano (ADA) and Dogecoin (DOGE) are suffering to maintain their momentum, DTX Exchange has given an ROI of 200% in a month. Launched at $0.02, it is currently priced at $0.06. The interesting thing is that analysts say it is highly undervalued at the current level due to the mega upgrades coming in September, which can take the price to the moon.
DTX Exchange sets itself apart in online trading with its hybrid model. It allows traders to buy or sell CFDs, commodities, cryptocurrencies, and over 120,000 asset classes with leverage rates up to 1000x. All transactions are private, as DTX Exchange doesn’t require sign-ups or KYC checks.
By blending features of both centralized and decentralized exchanges, DTX offers a balanced solution that tackles key issues in the multi-billion dollar global trading market. With impressive fundraising milestones and a strong growth strategy, DTX is positioned to outpace many altcoins in 2024, making it a promising candidate for a potential 70x return.
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