Altcoins

These Altcoins Failed to Fetch Profits Despite A Significant Bull Rally! What’s Next

Written by: Delma Wilson

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Delma Wilson

Delma is a B2B Content Marketer, Consultant, Blogger in the field of Blockchain, and Cryptocurrency. In her spare time, she loves to blog, play badminton and watch out ted talks. She likes pets and shares her free time with NGO.

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Mar 2, 2022

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Highlights

    The crypto space witnessed a significant spike from the past couple of days which uplifted most of the assets from the danger zone

    Yet some asset still exists within the crypto space which surged but could not fetch the desired profits for its holders

The global crypto market capitalization is yet again approaching the $2 trillion mark yet again as Bitcoin price leaps long above $44,000 levels. The majority of the tokens are bullish and hovering above the local resistance. And hence grabbed some profits for their holders, yet some assets are still within the top 15 which rose high in numbers but remain unprofitable till now. Two such assets are Cardano(ADA) and Shiba INU(SHIB). 

Cardano(ADA) 

Cardano(ADA) once was expected to be one of the most profitable assets, mainly after the launch of the Alonzo Hard Fork, remained pretty silent later. Currently, the ADA price has plunged drastically below $1 and is unable to build a strong bullish momentum to regain the levels above. No doubt suring the uptrend, the ADA price also recorded a double-digit gain but the price remained below $1 itself. 

As per some reports, near; 84% of the holders are currently still in the loss despite a 25% rally. Therefore in the upcoming days, the asset continue to consolidate within the same levels for some more time. And once it gains a notable strength, the price may attempt a decent upswing but still, the $1 target may not be easy. Also, Cardano with its consolidated price movement is consolidating just below $1 and a huge influx of liquidity may only flip the trend. 

Shiba INU(SHIB)

The Shiba Inu price broke out from the descending trend recently by escalating towards the upper targets. The asset no doubt surged by more than 25% but could not attract notable profits for its holders. Despite ranging high, the SHIB price remained restricted below $0.00002745 levels which is a matter of concern. The consolidation with accumulated selling volume may negatively impact the rally. 

Reports suggest, nearly 55% of SHIB owners are facing losses while 39% are in profits. Luckily, the strong support levels are extremely distinct from the current levels and hence the uptrend may continue. But these minor surges are not fueling the rally or notable accumulating profits. And hence the SHIB price along with ADA needs to uplift above their respective resistance levels and collectively attract huge profits. 

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Delma Wilson

Delma is a B2B Content Marketer, Consultant, Blogger in the field of Blockchain, and Cryptocurrency. In her spare time, she loves to blog, play badminton and watch out ted talks. She likes pets and shares her free time with NGO.

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