2024-10-5 14:32 |
With the altcoins season snapping back and the cryptocurrency market getting ready to accelerate, Cardano is witnessing something interesting. For the last week, as reported by Coinmarketcap, ADA has increased to more than 14%.
This movement vertically is a key turning point in the history of the digital coin since it breaks from the extended bear trend.
Therefore the double-bottom formation and the relative strength index which is above 70 indicates that Cardano will gain more in the coming months.
Notably, though, one prominent technical analyst issues a bold prediction, revealing the timeframe for Cardano (ADA) to hit $5 and said its rival under $0.08 will get to that spot first.
Cardano’s technical analysis and outlookCardano has been appealing to long-term cryptocurrency investors because of its excellent fundamentals and the unique cryptocurrency technology behind it.
As it seems that the medium to long-term downtrend has been broken, it is perhaps for that reason that the prices surged recently.
An example of the reversal of the trend to bullish is illustrated by the double bottom formation the formation which every technical analyst anticipates.
Also, the support level of $0.32 and the resistance at $0.46 of ADA add focus on the important levels which are now being monitored as the levels of this asset are getting ready for further upside moves.
The next important auxiliary feature that indicates the positive momentum of motion for ADA is the RSI which has also surpassed 70.
Typically, an indicated RSI greater than 70 indicates that the asset is overbought which calls for some correction.
Although this direction has pleasantly been enhanced of late, there is no doubt that there will be a rapid jump to $5 for the ADA.
One of the leading technical analysts notes that ADA fits the projection of hitting this realistic milestone by 2027.
This longer-time perspective is because the Cardano ecosystem is maturing very slowly, but systematically, within its development, its updates, and its adoption.
Rexas Finance (RXS): The ADA rival to surgeYet, even as Cardano’s target of $5 by 2027 seems very well placed as a long-term play, the analyst also targets a rival competitor in the crypto markets, which is Rexas Finance (RXS) expected to reach the $5 mark much earlier.
RXS is currently trading below $0.08 which is quite low considering the current crypto market status but this platform has already made headlines for its innovative approach to tokenizing real-world assets.
The presale rounds demonstrate the significant demand that Rexas Finance had even at its early stages of operation.
During the first presale stage, 15 million tokens were released at $0.03 raising $450,000 out of a total supply of 425 million RXS Tokens.
For the second stage selling at $0.04 about 20 million tokens were released raising $1.25 million, going way above the target that had been set.
Currently, RXS is in its third presale stage where the price is $0.05 and it is forecasted that the value of the token will increase with its use.
The domain of tokenized assets is in its early stages. However, it is bound to develop rapidly in the years to come.
As RXS appears to be leading the way in this area, the token is expected to exceed $5 by April 2025 and take a quicker pace than ADA in reaching the same price point.
This time frame makes RXS an appealing investment to anyone who is seeking fast returns in the changing world of digital assets.
What makes Rexas Finance stand out?The main goal for Rexas Finance has been tokenization which is why it has been able to grow.
Other blockchain projects may go into high-level protocols and specific areas of the market, RXS instead focuses on reaching out to everyone from junior to professional investors to utilize its platform.
This is a user-centric approach that could contribute to the success of the platform’s mass adoption as more investors become curious about entering this market of tokenized assets.
Cardano’s latest price action and solid fundamental analysis suggest that the cryptocurrency is on track and could hit the $5 target by the year 2027.
However, due to the long-term nature of this type of investment, those who want a quicker return will be glad to look into Rexas Finance (RXS) as a compelling option.
As the market of tokenized assets is growing, RXS, in our opinion, will dominate this niche and may touch $5 by April 2025.
For more information about Rexas Finance (RXS) visit the links below:
Website: https://rexas.com
Win $1 Million Giveaway: https://bit.ly/Rexas1M
Whitepaper: https://rexas.com/rexas-whitepaper.pdf
Twitter/X: https://x.com/rexasfinance
Telegram: https://t.me/rexasfinance
The post Technical analyst reveals timeframe for Cardano (ADA) to hit $5, says this ADA rival under $0.08 will get there first appeared first on Invezz
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