Ethereum is inching towards the $2.7K mark, but it’s ADA’s impressive 10x potential and the enticing VIP rebates from DTX Exchange that are garnering investor interest.
Ethereum’s price has recently found some stability between $2,600 and $2,700 after a sharp 15% increase, indicating that traders are reassessing their portfolios and gearing up for potential fluctuations.
However, when a Cardano (ADA) analyst examines this current cycle against previous bull market patterns, he notes that the periods of price drop tend to be longer. Based on these trends, he anticipates that Cardano could reach $1.70 by the end of 2024. Similarly, there's another project, which is currently in its third presale phase, expected to surge by 100 times. DTX Exchange (DTX) Ethereum (ETH) bears are attempting to push the price down to $2,500.
One significant driver behind Ethereum's price surge has been the U.S. Federal Reserve's recent decision to lower interest rates, signaling a shift towards a more flexible monetary approach.
When viewed from a broader perspective, however, it's important to note that Ethereum has experienced a decline of 33% over the past four months. This downturn came in light of the much-anticipated launch of a spot ETF in the U.S. that turned out to be underwhelming, resulting in a staggering $684 million in withdrawals, as reported by Farside Investors.
Within the total open interest of $2.77 billion, there are $1.82 billion in call options and $0.95 billion in put options. Despite $1.47 billion in call options aimed at the $2,700 mark or above, indicating bullish sentiment, these positions will expire worthless if Ether fails to maintain above that price by September 27. Ethereum (ETH) Additionally, there are around 718,000 Ethereum (ETH) options, worth approximately $1.9 billion, nearing their expiration. These derivatives have a maximum pain point at $2,500, with a put/call ratio of 0.47. This situation creates the largest expiration event in the crypto options market since the end of March, amounting to $7.7 billion.
Cardano (ADA) has surged more than 13% over the past week.
Cardano is at a pivotal moment, emerging from an extended downtrend, as recent market developments hint at a robust comeback on the horizon. Despite having experienced a year-to-date drop of about 37%, ADA has seen a 13.40% increase just in the last week, raising hopes for a potential long-term recovery.
Analyzing the weekly chart reveals uncanny similarities between Cardano’s (ADA) past explosive growth from December 2020 to May 2021 and its current trading position. During that remarkable period, Cardano (ADA) skyrocketed by 1041%, climbing from $0.15 to $1.77. The bullish crossover of the 50-day Exponential Moving Average (EMA) over the 100-day EMA was a strong signal that ignited this phenomenal ascent.
Cardano (ADA) With Cardano (ADA) trading currently at $0.4, a similar EMA alignment is emerging, recreating the setup that preceded its earlier bull run. This technical formation, combined with Cardano’s (ADA) position within a descending triangle, suggests that a significant breakout could be on the horizon.
DTX Exchange Captures Ethereum (ETH) Investor Interest with New VIP Rebate Initiative
As the third phase of the DTX Exchange presale approaches its conclusion, an influx of notable investors from popular crypto platforms, including Ethereum (ETH), has been observed. The DTX presale has successfully raised over $3 million, thanks to the engagement of these whales.
With DTX Exchange’s groundbreaking 1000x feature, users can unlock liquidity like never before. This means that whether you're trading stocks, forex, or cryptocurrencies, you have the chance to secure life-changing returns on individual transactions.
Moreover, by collaborating with DTX Exchange (DTX) through their VIP Rebate program, you can earn a daily profit of 3%. To start your investment journey, simply log into the presale dashboard or link your wallet.
Please be aware that the information provided on this page is not meant to be construed as legal, tax, investment, financial, or any other type of advice. It is crucial to invest only what you can afford to lose and consult independent financial advisors if you have any uncertainties. For further details, we recommend reviewing the terms and conditions alongside the support information provided by the issuer or advertiser. MetaversePost strives to deliver accurate and impartial reporting, yet market conditions can fluctuate without prior notice.
Gregory, a digital nomad from Poland, balances his life as a financial analyst and a contributor to various online publications. With extensive experience in the finance sector, his insights have put him in the spotlight across a multitude of outlets. In his downtime, Gregory is channeling his energy into writing a book focused on cryptocurrency and blockchain.
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