The Cardano (ADA) price is down over 17% this month and lost a HTF support level on the monthly chart, potentially now set to flip it back into a resistance level.
Cardano Price Prediction
The $0.39 level acted as resistance in 2018, and again in 2021 – once broken, it led to Cardano’s bull run to an all time high of $3.10 hit in September that year.
The Cardano price has now retraced that entire bull cycle, and after losing that level – which acted as support for five months before being lost – ADA is trading back inside a multi-year range, crashing to new yearly lows.
The best part of a bear market is that Charles Derangement Syndrome evolves to its final form. Seeing the comments on /r/cryptocurrency, I'm thinking that I must have created the union of celsius, luna, and casper. Could you guys at least make better memes?
— Charles Hoskinson (@IOHK_Charles) October 21, 2022
Despite its 90% correction, the Cardano live market cap is also still $12.2 billion – the 8th largest cryptocurrency on CoinMarketCap. That leaves room for a further move to the downside – ADA is debatably still overvalued. The RSI is also still overbought.
Cardano’s founder Charles Hoskinson has been facing sharp criticism on social media for the bearish ADA price action.
Market sentiment began to improve in October – commonly known as ‘Uptober’ among crypto traders. However the Bitcoin price has traded sideways most of the month.
Investors and short term traders alike are increasingly looking to new token presale for higher potential upside.
Presales are also high risk, however if a new crypto project is legitimate and successfully listed on major exchanges, they can result in high profits.
A recent example of a crypto presale Business2Community reviewed was Tamadoge (TAMA), which pumped over 1,500% on OKX exchange. During its early beta sale, the TAMA price was 0.01 USDT.
Crypto Discord Servers
Crypto Discord servers can be a useful tool to research upcoming crypto presales.
Business2Community spoke to VIP members of the Jacob Bury Crypto Discord, where Tamadoge was tipped as early as its beta sale by one of our resident analysts, Jacob Bury.
A Mr. Adadotatom said:
“I got into Tamadoge at the last presale stage (0.03 USDT), took profit and keep 10k in a wallet. Now looking at levels to buy some more.“
Awesome experience, 13x profit. Felt like making money grow on trees.”
Dash 2 Trade
Jacob Bury has recently recommended three more new crypto projects with active presales.
Dash 2 Trade (D2T) is his top recommendation, an ERC-20 token powering an upcoming crypto signals, social trading and analytics platform. This project sold out its first presale round in under four days, and is currently on round two.
Read more in our guide on how to buy D2T.
IMPT token is his second pick, a new eco-friendly cryptocurrency with carbon offsetting application. The IMPT presale has received more than $8 million in initial seed round funding its first few weeks of its presale – which is still on its first round.
Learn more in our guide on how to buy IMPT.
Calvaria is his third pick, an emerging battle card game that offers one of the best opportunities to invest in the P2E sector this year.
The project is currently running a successful presale of its native token, $RIA.
These are the most recent accessible presale projects covering a range of use cases. Locating a support network such as a Discord group can help traders of all ability levels to navigate the markets and increase their ROI.
Dash 2 Trade - New Gate.io Listing
- Also Listed on Bitmart, Changelly, LBank, Uniswap
- Collaborative Trading Platform Token
- Featured in Bitcoinist, Cointelegraph
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- Trading Community of 70,000+ Members