Join Our Telegram channel to stay up to date on breaking news coverage
Ardor (ARDR) was amongst the best-performing cryptocurrencies during the past 24 hours. According to data from the cryptocurrency market tracking website CoinMarketCap, the price of ARDR surged more than 5% during the past day of trading. As a result, the altcoin was changing hands at $0.078 at press time.
Traders Flock to ARDR
Along with the spike in value, the cryptocurrency also recorded a substantial increase in its 24-hour trading volume. CoinMarketCap data indicated that ARDR’s trading volume had increased an eye-watering 582% over the past 24 hours. This boosted the total to $28,994,442.
Technical Overview
Daily chart for ARDR/USDT (Source: TradingView)
From a technical perspective, ARDR was able to break above the $0.0735 resistance level throughout the past 72 hours. Earlier in today’s trading session, it also attempted to overcome the $0.0850 barrier. Although the altcoin had successfully broken above this threshold, it pulled back to trade below the significant price point at press time.
Despite the slight price correction, technical indicators on the cryptocurrency’s daily chart suggested that it could continue to rise in the next 24-48 hours. The daily Moving Average Convergence Divergence (MACD) and Relative Strength Index (RSI) indicators favored bulls.
Firstly, the MACD line had crossed above the MACD Signal line throughout the past 3 days and was still positioned above the Signal line at press time. The gap that existed between the two technical indicators was also growing. All of this suggested that ARDR’s positive trend may continue in the short term.
Additionally, the daily RSI line broke above the RSI Simple Moving Average (SMA) line on 14 October 2023. This indicated a potential shift in power that favored buyers. This bullish technical flag was apparently validated, as ARDR’s price entered into a multi-day positive sequence in the following few days.
The RSI line was still positively sloped towards overbought territory at press time. This could mean that bulls maintain their strength against sellers on ARDR’s charts.
Suppose the bullishness expressed by the RSI and MACD indicators on ARDR’s charts continues to drive the altcoin’s price in the next few days. In that case, the cryptocurrency may attempt another challenge at the aforementioned $0.0850 resistance level. Should ARDR close a daily candle above this price point, it could have the foundation to continue to climb. In this scenario, ARDR’s value could rise to as high as $0.1005, the next key barrier.
On the other hand, if ARDR fails to close a daily candle above $0.0850 within the next 48 hours, then traders may begin to take profit on their positions. This could lead to some sell pressure entering ARDR’s charts. If this sell volume is strong enough, the cryptocurrency’s price could be at risk of retesting the recently breached $0.0735 mark. Should sellers continue to exert pressure, ARDR may fall below this price point towards the subsequent support level at $0.0635.
As investors benefit from the recent surge in ARDR’s price, an innovative cloud mining project called Bitcoin Minetrix is rapidly gaining traction.
Bitcoin Minetrix: The Rebirth of the Cloud Mining Industry
Bitcoin Minetrix is a project that aims to address all of the scams surrounding Bitcoin (BTC) cloud mining, as well as lower the barrier to entry for anyone looking to get started with BTC mining. The project’s state-of-the-art platform introduces decentralization into the cloud mining process to achieve this.
Witness #BitcoinMinetrix achieving another remarkable milestone!
More than $1,600,000 raised!🪙 pic.twitter.com/yyrHTMRQz2
— Bitcoinminetrix (@bitcoinminetrix) October 17, 2023
Anyone looking to join this revolutionary project can purchase Bitcoin Minetrix’s native token, BTCMTX, through its presale. Bitcoin Minetrix has already raised more than $1.7 million through this presale. Investors who want to buy into the project at this early stage can purchase the BTCMTX token for $0.0111.
#BitcoinMinetrix Stage 2 is ending in 4 days! ⏳ pic.twitter.com/gpOd9BxnzH
— Bitcoinminetrix (@bitcoinminetrix) October 19, 2023
Once the BTCMTX tokens have been purchased, investors will need to stake their tokens. This will reward the investor with ERC-20 tokens. These rewards must then be burned for the user to claim a share of the project’s BTC mining power.
Related News:
- Ripple’s New Job Listing Sparks IPO Speculation
- Binance UK Suspends New User Registrations As FCA Clamps Down
- Nishad Singh Found An $8 Billion Hole In FTX Accounts, Still Approved Transactions Using Customer Deposits
Join Our Telegram channel to stay up to date on breaking news coverage
