Can Cardano Price Recover to $3 and ETFswap Surge to $1? These Indicators Hold The Key
Experts often use data and indicators from past price movements of a crypto asset and analytical tools to determine its next destination. While the predictions sometimes become a reality, other times, unexpected factors like volatility can make things go sideways.
After carefully analyzing Cardano (ADA) and its on-chain indicators, experts have speculated where its price is headed. Also, due to its private sale success, price experts have predicted that ETFswap (ETFS) has the potential to surge to $1 as well.
Cardano (ADA) Indicators Predict Price Will Fall Further
Cardano (ADA), often termed the Ethereum (ETH) killer due to its fierce competition with the network, buzzed the crypto industry recently with its March development highlight showcasing the launch of new projects on its ecosystem.
Nevertheless, its token ADA continues to be in the red, decreasing by 13% due to the market crash caused by a severe price downturn. Before the decline in price value, Cardano (ADA) had already been in turbulent waters, as it didn't perform well towards the end of March, exiting the month at $0.64, a slight price decrease.
According to data from the asset tracking platform Coinmarketcap, the token currently trades at $0.46, an over 8% drop in price in the past 24 hours at press time. Its market capitalization also dropped below $17 billion, ranking 10th in the crypto market.
On April 12, data from Santiment, a data analytical platform, showed that the Cardano (ADA) Measurement Reporting and Verification (MRV) ratio had dropped significantly, showing an 18% decrease. Further, there was a spike in its Network Value to Transaction (NVT), showing it is overvalued and suggesting an additional drop in price in the coming days. Its Moving Average Convergence Divergence (MACD) also indicates the bears are taking control of the token, and its Chaikin Money Flow (CMF) recorded a significant decline.
All these bearish indicators hint at a bearish atmosphere engulfing Cardano (ADA), showing that the recent 13% drop in price could only be the beginning of doom for the token. However, it's worth noting that Santiment’s data also revealed an increased developer activity on the Cardano (ADA) network, which could lead to a turnaround.
ETFswap (ETFS) Gears Up To Surge To $1
ETFswap (ETFS) is one of the blockchain platforms spearheading the growth of tokenization of assets in the blockchain industry. It opens up avenues for traders of all portfolio sizes to invest in exchange-traded funds (ETFs) by creating its tokenized version. The tokenized ETFs will directly represent its traditional version on-chain, enabling investors to interact with these assets on the blockchain.
They will be available for trading on a comprehensive web3 marketplace designed to accommodate expert traders and newbies with little or no knowledge about trading. The platform also offers up to 10x leverage for bold traders who want to maximize their earnings and fractional ownership to all who want to amplify their portfolio. Users can earn passive income through staking and seamlessly swap their earnings with the platform’s swap functions.
There is much to benefit from the ETFswap (ETFS) ecosystem, but it can only be made possible by holding its native token, ETFS. Interested individuals can get this token in the ongoing stage 1 presale, where the platform offers ETFS at a low price of $0.00854 to enable investors of all portfolio sizes to join in early. In addition, all participants in this current round will reap quick profits when stage 2 kicks off at a higher price of $0.01831.
Also, experts speculate that the token will surge by 10,000% soon, taking its price to the $1 mark. Savvy investors are all rushing in to get their hands on this token at its current stage, with over 18.4 million already sold.
So what are you waiting for? Join the ETFswap (ETFS) incredible ecosystem and boost your portfolio.
For more information about the ETFS Presale:
Disclaimer: Cryptocurrency investment is a high-risk activity in a volatile market. Any financial and crypto market information in this article is for informational purposes only and should not be treated as investment advice. Conduct your research and consider consulting financial experts before making any investment decisions.