2024-10-25 09:00 |
Cryptocurrency prices were on edge this week as a sense of fear spread in the financial market. Bitcoin remained steadily above $68,000, while top Solana meme coins like Popcat, GOAT, and Cat in a dogs world (MEW) surged to a record high. This article looks at top cryptocurrencies like Cardano, Dogizen, and Hamster Kombat.
Cardano price forecastCardano, one of the biggest ghost chains, remained on edge this week even as the developers announced a major integration with Bitcoin OS, a leading Bitcoin scaling platform.
The ADA token retreated to $0.34, much lower than the year-to-date high of $0.810. On the daily chart, it has remained at the 78.6% Fibonacci Retracement point. It has also moved below the descending trendline that connects the highest swings since May 21.
Cardano has also moved below the 50-day and 25-day Exponential Moving Averages, meaning that bears are in control for now. Therefore, the ADA token will likely remain under pressure unless bulls push it above the descending trendline. If this happens, it could drop to as low as $0.278, its lowest swing in August.
On the positive side, it has formed an inverse head and shoulders pattern, pointing to more gains if it crosses the descending trendline.
Cardano chart by TradingView
Dogizen analysisUnlike Cardano, Dogizen is not a publicly-traded cryptocurrency yet. Instead, it bills itself as the first Initial Coin Offering (ICO) on the Telegram ecosystem.
It is a Telegram game that aims to compete with the biggest players in the ecosystem like Catizen and Gamee. In the past few months, the game has already reached over 1 million active players, who are now enjoying it and accumulating tokens.
Dogizen has a bigger vision than just having a popular game in the ecosystem. For one, the developers are creating the Dogizen Universe, which will enable users to create their own applications for the Telegram ecosystem.
Dogizen will also have a launchpad, which will give developers access to its SDK, community, and analytics dashboards to allow people to build their games.
Dogizen’s ICO has become a hit among traders. Data on its website shows that it has already raised $909,000 in the past few weeks. Like other ICO’s the DOGIZ token price is rising as the sale continues. It was selling at $0.000074 and will rise to $0.000077 in the next stage.
Analysts believe that Dogizen has a high chance of success in the longer term because of its all inclusive ecosystem. You can buy the Dogizen token here.
Hamster Kombat price analysisHMSTR chart by TradingView
The Hamster Kombat token has been the biggest disappointment in the market this year as it crashed from $0.014 in September to $0.0033.
HMSTR token has dropped below the important support level at $0.0036, its lowest point on October 17 and 21. It has remained below the 50-period moving average, meaning that bears are still in control.
Therefore, with its volume falling, there are rising chances that it will have a bearish breakout in the near term, with the next point to watch being the psychological point at $0.0030.
The post Crypto price predictions: Cardano, Dogizen, Hamster Kombat appeared first on Invezz
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