The cryptocurrency market continues to wade through the murky red waters of a bearish trend – made worse by the collapse of FTX. Despite the negative market mood, ADA has so far outperformed the rest of the market, down only 0.6% over the past 24 hours.
Cardano’s first algorithmic stablecoin DJED to launch in 2023
The Cardano ecosystem continues to grow despite the bear market. According to the latest updates from the crypto space, DJED will be the first algorithmic stablecoin to be launched on Cardano’s mainnet in January 2023.
The team confirmed the launch of the stablecoin on the mainnet during the Cardano Summit 2022.
Currently, the DJED team is working round the clock to develop a payment platform and cryptocurrency gateway called DZ Pay. This payment gateway will enjoy the support of the Cardano Foundation, elevating its position among businesses. DJED will also help investors manage risk, given the recent events in the cryptocurrency market.
Cardano Price Forecast: Bulls to Hold Firmly at $0.30 Support
Cardano price is struggling to stay above a crucial level as highlighted by the gray band at $0.30 (S-1). The ADA has also formed a lower-higher pattern, the upside of which is capped by a bearish descending trend line.
Sellers are likely to remain in control, especially with Cardano trading below all major moving averages including the 50-day exponential moving average (EMA) (in red), the 100-day EMA (in blue), and the 200-day EMA. with trading. (in purple).
Losing Support at $0.30 Could Be Harmful Cardano price as it could lead to more selling,
Traders looking to short current levels should wait until ADA closes below $0.30 to avoid a bear trap that could lead to a bullish upward move with take-profit targets at $0.20 and $0.165. is highlighted.
The Stochastic Oscillator on the same 3-day time frame confirms a strong bearish hold on the price. However, it also shows that ADA is facing extremely oversold conditions which could pave the way for a recovery in the near term. Property prices return to fair market values. Hence there is a possibility of a short term rally. That said, all momentum points to a breakout in price, so bulls may have to wait for a strong green candle before jumping in.
A break above the descending trend line may mark the start of an uptrend. Potential take-profit targets if ADA recovers include the 50-day EMA at $0.465, the 100-day EMA at $0.649, and the 200-day EMA at $0.862.
Cardano alternatives will be considered at the end of the year
As analyzed, Cardano must remain above $0.30 to avoid another downside move to the $0.165 level. While ADA still holds a positive outlook, it may take longer to materialize, with its recovery affected by the uncertainty of a bear market cycle. That is why interesting investors can look at promising presales with potential to rally after getting listed on exchanges.
Dash 2 Trade (D2T)
Dash 2 Trade is a new cryptocurrency project, providing investors with world-class crypto analytics that make it easy to navigate the market. With these analytics, traders can build and test strategies on a simplified platform.
Due to launch in the first quarter of 2023, its native D2T token sale Has already raised over $6.7 million, It also announced listings on BitMart and the LBANK exchange early next year, confirming that investors will indeed have an opportunity to enjoy some returns soon.
Visit the Dash 2 Trade Presale Now
Robotera (Tarot)
also running on ethereum, robot era (TARO) is a sandbox-style metaverse, which is scheduled to launch its alpha version in the first quarter of 2023. Within its platform, gamers will be able to play as robots and build its virtual world, which includes NFT-based land, buildings and more. – Sports item.
1 TARO is currently selling for 0.020 USDT (it can be bought using USDT or ETH), however this price will increase to $0.025 in the second phase of its pre-sale, which will start soon.
Visit the Robotera presale now.
IMPT
IMPT There is a carbon credits marketplace where users can earn and trade NFT-based carbon offsets, which can also be earned by making purchases with a wide range of eco-friendly retailers. The tokenization of carbon credits in the form of NFTs means that such credits can be tracked in a more transparent manner, helping to solve many of the problems that have, until now, underpinned carbon markets.
IMPT pre-sale is now over raised $13 million Within weeks of its launch, it became one of the most popular crypto sales.
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