In the first two weeks of June, the cryptocurrency market suffered major losses. The market-wide downtrend was largely due to the pressure of the Securities and Exchange Commission (SEC) filing lawsuits against crypto exchanges and classifying Cardano (ADA) as a security.
However, over the last week, there has been a revival in the crypto market, leading to price upswings across various coins and tokens. Two standout performers during this period have been Cardano and Tradecurve, which has seen substantial price surges. But can they sustain the price surge?
Cardano (ADA) Price Prediction: Can The Recovery Be Sustained?
After facing pressure from the SEC’s security classification, Cardano is finally exhibiting signs of recovery. The recent price surge can be attributed to a broader market trend driven by institutional attention focused on Bitcoin. On June 21st Cardano experienced an 8% price gain, rising from $0.24 to $0.28. This upward movement led to over $1.47 million in short liquidations across ADA futures.
With shorts out of the picture, Cardano continued its rally, gaining another 8% and reclaiming the crucial $0.3 level on June 22nd. Cardano’s price also managed to break above the significant resistance level at $0.2882, making it a support level. Although the bulls were able to cross the $0.3000 market, the bears regained control of the market and pushed the price to $0.295082
Presently, Cardano is trading below the 50-Day and 200-day Simple Moving Averages (SMA), with the Relative Strength Index (RSI) in a neutral position. Cardano has support levels at $0.282783, $0.275616, and the strongest at $0.264814. Similarly, resistance levels for Cardano are at $0.300752, $0.311554, and $0.318721. According to DigitalCoinPrice’s projections, Cardano (ADA) is expected to reach a minimum price of $0.36 before the end of the year.
Tradecurve Sets New Trading High
Tradecurve is a new hybrid crypto exchange that has been gaining attention because of the strong performance of its utility token, TCRV.
While Cardano bulls are gearing to retest the $0.300752 resistance, Tradecurve’s TCRV has set a new high after experiencing a significant increase from $0.015 to $0.018 (20% increase) in the past week. Several factors contributed to this ongoing momentum, including Tradecurve’s appealing features.
Notably, Tradecurve stands out from exchanges like Binance and Coinbase due to its access to a wider range of markets, absence of strict KYC checks, low trading fees, bot trading feature, copy trading functionality, and. These unique features are expected to increase trading activity and attract more users to the Tradecurve platform. Consequently, these higher trading volumes and improved liquidity will help fuel the TCRV’s upward trajectory.
Presently, the TCRV token is in the fourth phase of its token presale, priced at $0.018 per token. With positive market sentiment and a range of supporting factors, Tradecurve’s TCRV token shows promising potential for further bullish price movements.
Currently, analysts are looking towards a potential price surge of 40% in the fifth stage of its presale. For the long term, many analysts have predicted that TCRV will trade above $1 before the end of 2023.
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