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The Cardano price climbed 2% in the last 24 hours to trade at $0.7582 as of 3.30 a.m. EST on trading volume that dropped 40% to $768.64 million.
The ADA price has been fluctuating strongly in the past 24 hours, going from $0.74 to $0.77, then dropping to $0.73, and recovering to $0.7582 where it sits right now. Of course, compared to its price action on Feb. 2 and 3, most of its recent movements are only minor fluctuations.
At first, Cardano was seemingly following Bitcoin’s lead, but while BTC is slowly recovering toward $100k, ADA has been trading sideways over the past few days.
Cardano Price Prediction
Cardano’s price has been following a pattern in the last two days, first seeing slight growth, then dropping and staying flat for a few hours, only to then repeat this pattern. Its Bollinger Bands would tighten during the periods when the price remained flat, only to see a slight widening for the price increase, and an even larger widening when the price dropped again.
The last 24 hours have seen a very slight 2% increase, and for the most part, the price was fluctuating between the upper band and the middle line between the two bands. However, the coin could see its pattern repeat once it reaches $0.77.
ADA/USDT 15-minute chart (Source: TradingView)
As for ADA’s Relative Strength Index (RSI), it also followed a pattern of hitting the oversold zone, then slowly rising to the neutral value of 50, and then after a while proceeding to the overbought zone from where it saw a sharp drop back to the oversold sector.
This suggests that the coin would slowly attract buyers, who are hesitant to join at first, but over time, they eventually pump the metric toward the overbought zone. As soon as it gets there, however, traders would take profit and cause a price correction, only to then repeat the whole process.
In other words, there is optimism surrounding Cardano, but traders are also hesitant due to the uncertainty that is surrounding the crypto space at the moment, causing them to approach ADA’s charts with caution.
Promising Alternative To Cardano
With Cardano currently surrounded in uncertainty, investors are turning to alternatives like Meme Index (MEMEX) — a project that has created a new, much safer way to invest in meme coins.
Meme Index has launched several indexes — baskets of meme coins — each of which comes with a different level of risk/reward ratio. The least risky is Titan, which only contains the largest meme coins by market cap. Following that, you have Moonshot, which is also fairly safe, containing meme coins sitting just under the largest ones.
MidCap is the one where the risk truly starts to grow, as it will focus on meme coins with a market cap between $50m and $250m. This index’s risk comes from the fact that the cryptos in the basket could either blow up or just slowly fade away. However, the riskiest index is the fourth one, known as Frenzy. This index will hold experimental, new coins, which could either blow up or flop completely, causing either massive gains or total losses for investors.
However, if you join the MEMEX ICO and buy its native tokens, you can join the governance process and help decide which tokens each index will focus on. Also, you will need MEMEX to invest in these indexes, so buying them now, while they are still in ICO and selling at a low price could be the best move to make.
The MEMEX ICO has already raised over $3.39 million and is selling its token for $0.0159077. Experts like crypto YouTuber ClayBro, who has over 136k subscribers, believe that MEMEX’s price could blow up after launch. In a recent video, he said that MEMEX has 10x potential, making it worthy of your consideration.
Buy MEMEX tokens here before the next ICO price increase in 20 hours.
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