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Cardano (ADA) Flashing Buy Signals, While Litecoin(LTC) & Avalanche (AVAX) May go Long Soon!

Author: Sahana Vibhute

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A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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Highlights
  • Cardano price is accumulating gains within a huge demand zone, preparing to explode in the next couple of weeks

  • Litecoin (LTC) & Avalanche(AVAX) prices are very close to leaping long as the assets appear to have rebounded from the bearish divergence

Cardano (ADA) Price Analysis

Cardano’s price has continued to trade along the lower support around $0.434 ever since the price collapsed from $1.2 in May. While the volume & volatility diminished heavily, the price remained consolidated below $0.6.

Market participants expected an upswing after the Vasil hard fork, but to everyone’s surprise, the ADA price continued to trade flat, similar to the situation after the Ethereum Merge. The upcoming impact will be easier to measure if the asset marks its entry into the demand zone. 

Source: Twitter

Presently, the ADA price is accumulating within a range, while a drop to $0.30 to $0.375 is expected in the coming days. With the drop, the price reaches the demand area where-in investors may jump in to stack some. Therefore, a break of the downtrend towards the lower support may be the trigger to go long.

Litecoin(LTC) Price Analysis

Litecoin price with the recent price crash, sliced through the lower support of the ascending parallel channel. While the asset continues to trade close to the lower support of the channel, attempting hard to enter the channel again. As Bitcoin remained largely stable without being volatile, the LTC/BTC pair displayed a significant strength compared to that of USDT. 

Presently, the price just bounced off the lower support between 0.0037 & 0.0028 SATS. However, the price may retest these levels again before raising high towards the next resistance at 0.003 sats. While the main target of LTC/BTC lies around 0.0034 sats, that may be achievable in the next 10 to 12 days.

Avalanche (AVAX) Price Analysis

The Avalanche price is again testing the lower support yet again after the bulls failed to uplift the price by $30. Presently, the AVAX price is trading around $17.31 with a reduced volume & volatility that may compel the price to remain lower until the day’s close. However, in a larger time frame, the asset is expected to make a huge comeback and rise by more than 50% in the coming days. 

The AVAX/BTC on the other hand is displaying huge potential to go long and if the market conditions persisted, the asset may even reach 9200 sats. However, the price could further create a higher low which may further trigger a long run towards 10500 sats in the coming days. 

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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