Despite Bitcoin (BTC) surging past $62,000 recently after Mt Gox pushed its repayment plans to 2025, Cardano (ADA) has been on a bearish streak lately. Over the past 14 days, its price has fallen by 16%. A glance at the one-day chart suggests this downward trend may continue.
That came after Cardano formed a head-and-shoulders pattern, indicating that the token might be heading into a downtrend. The chart revealed that the rally, which boosted ADA by over 26% in late September, lost momentum. As a result, market bears may begin selling, pushing prices further down on the charts.
Experts suggest that if Cardano fails to maintain levels above $0.344, its price could drop by 8%, testing the support at $0.311. ADA must break through the resistance at $0.368 to reverse this pattern and return to an upward trend.
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Cardano (ADA): Wallets In Profit Drops
Data from IntoTheBlock showed that after Cardano’s rally lost steam in late September, the percentage of wallets “In The Money” (in profit) dropped from 34% to just 16%. Meanwhile, wallet-holding losses jumped from 63% to 78%. This decline in wallet profitability could lead to further price drops if holders decide to sell and cut their losses.
Sentiment around ADA remains positive, which could help prevent a sharp decline. For example, the long/short ratio recently hit its highest level since early September, signaling that traders are betting on future price gains.
FXGuys ($FXG): Providing Access To Real Trading Capital
With Cardano’s price plummeting, FXGuys ($FXG) has emerged as the next crypto gem, thanks to its Prop Firm Funding program. This new DeFi crypto offers traders access to large amounts of capital. It enables them to manage sizable trading accounts without risking their money, making it appealing to ambitious traders.
The platform’s Trade2Earn program further boosts its appeal as the top crypto to buy. With every trade you make, whether profitable or not, you earn $FXG tokens. With its governance token structure, members and funded traders decide the ecosystem’s future.
FXGuys ($FXG): The Staking Program Provide Access To Rewards
This new DeFi crypto is building a supportive community for its investors. With a focus on education, FXGuys offers its traders resources and social forums to help them develop their skills and trading discipline. FXGuys, with its staking program, provides ways to earn more where users can access rewards, annual percentage yields (APY), and shares in the platform’s profits.
With FXGuys still in its early presale stage, savvy investors are already flocking to it. The platform raised over $1,000,000 in its private round that concluded, and its 68,000,000 $FXG tokens were bought up quickly.
With $FXG tokens currently priced at just $0.03 in stage one of the presale, this is a perfect opportunity for early investors looking for which crypto to buy to get in before the price increases to $0.10 when the public launch goes live.
Conclusion
While Cardano may be experiencing a bearish pattern, FXGuys is emerging as a shining gem in the crypto world. With its innovative PropFi ecosystem, risk-free trading, and strong investor support, FXGuys has the potential to be a major player in the market. If you’re looking for a project that can yield 1000x returns and offer access to real capital, FXGuys might be the next big thing in crypto.
To find out more about FXGuys, follow the links below:
Website | Whitepaper | Socials | Audit
