2024-01-20 18:59:34
The beginning of the new year brought significant price swings and increased volatility to the cryptocurrency markets. While some altcoins are on an upward trajectory pricing in the upcoming halving of Bitcoin BTC Price, top cryptocurrencies such as Cardano, Ethereum ETH Price and Ripple XRP Price have started a sustained decline over the past week. Amidst these trends, the potential success of the Pullix blockchain project token may seem obvious now that it is already listed.
Cardano (ADA) is trading in a serious decline, below the support level
Cardano, which reached a high of $0.61 on January 11, 2024, has since corrected and is currently trading below the $0.5812 support level, suggesting further declines. Cardano’s coin recorded a loss of about 6.31% in the last 7 days.
A positive could be if ADA buyers can keep the price above the moving average levels, which could pave the way for appreciation. However, if they are unable to hold, selling pressure may increase and support may fall to $0.50. And further decline could result in a price range between $0.41 and $0.48.
Cardano price is currently below the moving average lines, indicating a bearish outlook, and recent attempts to rise above $0.51 are met with resistance at the 50-day SMA. Additionally, if the $0.50 support also falls, selling pressure could intensify, further reducing the ADA price.
XRP’s price is also fluctuating amid Ripple’s recent bearish fall
It seems that Ripple can also look forward to a bright future if Ripple’s coin, XRP XRP Price, can continue to stay in the limelight. It is currently trading above $0.54 and $0.60 is the next resistance it is targeting. Despite Ripple falling 0.26% in the last 24 hours, XRP is strong with a market cap of nearly $30 billion.
However, caution should be exercised as XRP is struggling to stay stable at $0.55. A Twitter cryptanalyst named Ali says so warns, that if XRP fails to hold $0.55, further selling may begin and the price may fall as low as $0.34. However, Ripple remains at the top of the list of the best cryptocurrencies to buy this year with potentially significant profits.
Despite the uncertainty surrounding Ripple’s performance, analysts are optimistic, believing that XRP could reach $5 soon and even $7-8 in the long term.
A fall in Ethereum (ETH) below $2,500 could indicate a permanent loss in value
Ethereum ETH Price is currently in a bearish phase as it has fallen below the $2,532 support level. Even though it has gained 14.85% in the last month, it is Ethereum years has been in a downward trend for a week, with a loss of about 4.15% so far.
Looking at Ethereum’s overall price trajectory from last year to now, it is expected that Ethereum will overcome the current bear phase. Ethereum began a significant price rally at the end of last year and has remained on a decent run ever since.
The Pullix (PLX) token presale is getting even wider attention as it nears its end
It brings refreshment Pullix (PLX), a new crypto project that has caught the attention of so many investors so far. Pullix is more than 50% ready to launch with its current stage 6 presale and over $10.6 million in token sales at its current price of $0.08.
What makes the project truly exceptional is not only the dynamic pricing model, which raises the price of the token at every stage of the ongoing presale. In fact, there is more that will drive the value of the project’s native tool, PLX.
The appeal of the platform lies in its innovative approach to solving the liquidity problems of decentralized finance (DeFi). By combining elements of the DEX and CEX exchanges, Pullix aims to change online trading.
Among other things, Pullix aims to eliminate problems that often plague the DeFi market, such as liquidity constraints, slow transactions, high fees, and lengthy processing times.
Another highlight of the project is the passive income model, which is facilitated by Pullix’s native PLX token. By contributing to the exchange’s liquidity pool, users can earn a fixed interest rate of 8-18%, thus ensuring a continuous source of income while supporting market-making activity.
This revenue model highlights the key role of the PLX token in unlocking passive income opportunities. However, it is important to note that the pre-sale tokens are available in limited quantities. In addition, experts in the DeFi market expect a potential upside that makes Pullix one of the smart crypto projects with significant profit potential.
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***Attention! Our article above is a sponsored guest content. The editors of BitcoinBázis do not take any responsibility for what has been described and urge all readers to be extra careful regarding extremely risky cryptocurrency, CFD, token, metaverse, DeFi, play-to-earn and ICO/STO/SAFT investments. Individual research and thorough verification of claims is highly recommended. Trade, invest and play responsibly.***
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