The onset of the new year has ushered in notable fluctuations and increased volatility within the cryptocurrency market. While certain altcoins show signs of a bullish trajectory in anticipation of Bitcoin’s upcoming halving, top crypto coins such as Cardano, Ethereum, and Ripple coin have experienced a persistent decline over the past week. Amidst these trends, the potential success of Pullix crypto is already evident as it is set to launch this year and positioned as a top crypto to buy.
Cardano (ADA) May Experience Major Decline As It Trade Below Support Level
Cardano coin, which hit a high of $0.61 on January 11, 2024, has faced a decline, currently pricing below its support price level of $0.5812 and possibly heading lower in a downtrend. Subsequently, Cardano has recorded a total of 11.54% loss in the past 7 days.
On a positive note, if Cardano buyers can sustain it above moving average lines, the price of Cardano coin may appreciate. However, if they can’t, selling pressure may rise, with a potential drop to $0.50 support. Further breakdown could lead to a range between $0.41 and $0.48.
The price of Cardano is currently below moving average lines, indicating a bearish trend, and recent attempts to rise above $0.51 are met with resistance at the 50-day SMA. Additionally, if $0.50 support breaks, selling pressure might intensify, which will further drop the price of ADA.
XRP Price Shakes Amid Ripple’s Recent Bearish Downturn
Ripple seems to be approaching a bright future as Ripple coin, XRP, appears in the spotlight, currently valued above $0.56 and aiming for $0.60. Even though Ripple dipped 1.70% in the last 24 hours, XRP is strong with a market value of $30.5 billion.
But there’s a caution as XRP is struggling to stay stable at $0.55. Major crypto analyst Ali warns that if Ripple can’t hold at $0.55, there might be a sell-off, and XRP could drop to $0.34. Ripple however still holds a good spot on the list of top crypto coins to buy for major gains this year.
In coronation, despite the uncertainty around Ripple performance, analysts are hopeful, thinking XRP could reach $5 soon and maybe even $7 to $8 in the long run.
Ethereum Price (ETH) Falls Below $2,500 Signaling a Sustained Declining Phase
Ethereum is currently in a declining phase having plummeted below its support threshold of $2,532. Despite gaining up to 14.85% gain over the past month, Ethereum price began a downtrend that has lasted for a week, with a total of 4.05% ETH value lost.
Looking at the overall price trajectory of Ethereum from this time last year till now, one can expect Ethereum to prevail over its current bearish phase. Ethereum started a major price appreciation late last year and it has been on a fair run ever since.
Pullix (PLX) Token Presale Gains Broader Attention As It Nears Completion
Bringing a sigh of relief is Pullix (PLX) , a new crypto project stealing the attention of many investors. Pullix is over 50% done with its current stage 6 presale, selling over $10.6 million tokens for the current price of $0.08.
What makes the project truly exceptional is not the dynamic pricing model which is designed to boost the token price during each stage of the ongoing presale. In fact, there is more to what drives the value of the project’s native asset – PLX.
The platform’s appeal lies in its innovative approach of resolving liquidity problems in decentralized finance (DeFi). By combining elements of both DEX and CEX exchanges, Pullix aims to transform the landscape of online trading.
Among other things, Pullix is designed to eliminate issues like liquidity constraint, slow transactions, high fees, and lengthy processing times that commonly plague the DeFi market.
Another highlight of this project is the passive revenue model facilitated by Pullix’s native PLX token. By contributing to the exchange’s liquidity pool, users can earn a fixed interest rate ranging from 8% to 18%, ensuring a steady income stream while supporting market-making activities.
This revenue model underscores the crucial role of the PLX token in unlocking opportunities for a passive income generation. Albeit, it’s essential to note that presale tokens are limited in quantity. Furthermore, DeFi market experts anticipate a potential surge that will rank Pullix as smart crypto to buy for major gains.
Disclosure: This is a sponsored press release. Please do your research before buying any cryptocurrency or investing in any projects. Read the full disclosure here.
Source: null tx