The bear gang has regained strength in Cardano (ADA) and Tron (TRX). The Cardano price is down around 15% in the last four days, while Tron has suffered a 3% decrease from the recent swing high. This negative sentiment came after the recent news on the Middle East.
While top coins struggle to maintain a bullish structure, DTX Exchange’s (DTX) new forecast has attracted investors from all over the crypto community. DTX Exchange is continuously increasing its market share; according to last Friday’s filing, it now has over 96,000+ users. In this article, we will discuss the technical analysis of these coins and their recent performance.
Cardano Price Faces Sharp Fall Below Trendline
The market dump from Monday has negatively affected ADA’s price action. After touching the high of $0.415, Cardano price has corrected back to $0.33, which worked as a support region in September. This could also be a retest of the wedge pattern breakout, but the trendline break has made the bearish sentiments more powerful.
Further falls in Cardano’s price could lead to a fresh low and create a 52-week low. According to technical analysis, the $0.4 level in ADA has created a double top with the neckline at $0.3. $0.32 and $0.30 are two further support levels in ADA, which can prevent it from further downtrend.
Tron (TRX) Trying To Reverse Trend Upwards
Tron (TRX) performed very well during the market correction but hasn’t recovered after topping out in August. Last week, it showed high relative strength, trading above its 10- and 20-period moving averages. The $0.155 level is crucial for Tron (TRX) because it is the second resistance from this level.
Tron (TRX) is trading near its all-time high, and another push can take it to a new price action zone. The 50-period moving average is the near support level for Tron; for a further dip, $0.146 is the next demand zone.
DTX Exchange (DTX) Leads Market In The Fall
Due to global events, traders have faced losses this week, with major cryptos like Tron (TRX) and Cardano price sliding below their support zones. However, traders in the DTX Exchange gained another 100% when the price entered the third stage at $0.06 from $0.04. One of the traders who has made 200% from early entry has projected its price to rise to $3.06 by December. Even $100 invested at the current price could rise to $5,100, according to this projection.
DTX Exchange is one of the top performers in the 2024 crypto market, standing out with its advanced technologies and unique features. Focused on building a cutting-edge trading platform, it offers end-to-end solutions that set it apart in the presale sector. After achieving a record-breaking 10,000 TPS on its testnet, DTX is emerging as the largest exchange preparing for launch.
The innovative functions like wallet-based trading, non-custodial wallet, etc, are remarkably tailored to the $10 billion global trading market. An on-chain order book of the platform ensures the buyers and sellers are fully transparent.
DTX Exchange will be one of the star performers due to its rapid execution speed, the ability of Quant and printing Algo, and the choice of above 120,000 trading instruments. The DTX presale offers investors the chance to take part in a rapidly changing market and thus realize some gains.
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