Cardano is falling deeper into bearish territory while Avalanche is beginning to show some signs of a bullish breakout. Meanwhile, the safest bet in the
Cardano’s (ADA) market cap fell to $11.91 billion on Friday, pushing the token out of the Top 10 cryptos list. ADA’s price declined by 4% in the last seven days as investors lose confidence in a potential comeback. At the moment, Cardano is trading at $0.332 after recording a minor intra-day decline of 0.42%.
Cardano’s price action is currently trading within a falling wedge pattern and analysts believe that ADA is facing strong bearish pressure. Meanwhile, Cardano’s MACD has also formed a bearish crossover with the signal line, hinting at sustained downtrends in the next few weeks. If investor interest doesn’t pick up soon, Cardano’s price could plunge to the $0.28 support soon.
After showing resilience throughout the last 30 days, Avalanche (AVAX) is finally breaking free from bearish dominance. AVAX is currently trading in a decreasing wedge pattern which often signals a bullish reversal. If Avalanche can breach the upper trendline at $28.11, the token could climb even higher in the next few weeks.
As Avalanche’s MACD turns bullish and the RSI breaks above the neutral level, investors are keeping a close eye on AVAX. If this bullish momentum persists, Avalanche’s price could surge to $33.42 soon. However, if profit-taking ensues, Avalanche could fall to the nearest support at $17.39.
While both Cardano (ADA) and Avalanche (AVAX) continue to suffer from declining investor interest, a new play-to-earn crypto casino is rapidly stealing the show and siphoning investors from both established cryptos. As ADA and AVAX suffer steep declines, this new GambleFi token is only soaring upwards by recording a massive 160% rally in presale.
Having already proven its potential by raising $3.5 million in its presale, analysts believe this new DeFi token could encounter another 100x rally on launch day. The reason why this crypto presale has attracted more than 15,000 early investors is a fully-functional crypto-native casino that is already active and generating revenue.
By offering 7000+ AI-powered games, this new GambleFi project is rapidly gaining momentum as more traders and high rollers join this new era of iGambling. The casino is also improving user experience with no KYC checks required on signup which allows new traders to sign up by only connecting their wallets and depositing a compatible cryptocurrency.
Aside from the gaming perspective, this new GambleFi crypto is also poised for massive gains due to the sustainability and utility that the platform’s native token offers. Through a unique reward-sharing scheme, the platform rewards long-term holders on a weekly basis by offering staking rewards with up to 30% APY. To make things even better, early investors also receive an additional bonus based on their holdings to signify their commitment to the project during its ICO.
Currently, these tokens are selling on the official website at $0.026 each. With Ethereum-backed security protocols and deflationary tokenomics, it is no surprise that this GambleFi token is quickly emerging as the hottest ICO and DeFi token of 2024. Since this bullish trajectory is only getting started, analysts are already tipping at another price surge for this new crypto before the end of this week.
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