Cardano Coin Returns to Pre-Ripple Surge Levels. Is The Fun Over For ADA?

Updated: 17 July 2023

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Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

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Today, July 17, Cardano’s (ADA) trading volume is up 4% in the last 24 hours. Also, the crypto assets rank No. 8 among the top coins on CoinMarketCap.

ADA witnessed a significant surge on July 13 as Ripple gained a victory over the SEC. But the next day, it dropped. As of 4:45 EST, ADA’s market value is $0.318. It has increased 57% in the past 30 days and is down about 31% in the past year.

Cardano ADA is Building Buying Pressure, Might Remain Bullish Today

ADA’s technical chart indicates buying momentum and a potential continuation of the bullish trend in the short term. The coin is trading above the 50-Day Simple Moving Average (SMA) but below the 200-Day SMA, suggesting short-term bullishness and long-term bearishness. The Moving Average Convergence Divergence (MACD) is above the signal line with faint green histogram bars, indicating a bullish market and building buying pressure.

The Relative Strength Index is in the neutral zone, leaning slightly towards the overbought zone, further supporting the growing buying momentum. While awaiting the DyDx bulls to take control, it may be worth considering buying into the Thuglife (THUG) token, which recently concluded its presale and is awaiting listing on exchanges.

ADA’s Support And Resistance Price Levels

Based on the chart analysis, ADA shows potential for a rally with a possible target of $0.383 if bullish momentum persists. A further increase in buying pressure may push the price towards a resistance level of $0.397.

However, if bearish sentiment takes over, ADA could drop to a support level of $0.286, and if the selling pressure intensifies, it may reach the $0.260 support level.

Factors Likely to Influence Cardano ADA’s Market

On July 13 Cardano Foundation shared via its Twitter handle that Cardano is planning a meetup on July 19 to discuss some relevant topics within the Cardano Network.

Some areas of interest include the Muesliswap presentation of its unique features and implementation, the NMKR presentation on how its NFTs technology could affect the world, etc.

The result of the event might trigger some reactions among Cardano Community, which could affect the market in the future.

Is Launchpad XYZ the Best Alternative Asset?

Launchpad is an all-in-one platform to increase the adoption of Web3 technology and provide a seamless experience for users. The project’s vision is to provide users with asset insights for traders, educational materials, trading alpha, trading analysis, and trading strategy.

With its vision, individuals could engage the Web3 technology with less fear as all the important data required to thrive will be available.

Again, Launchpad XYZ also aims to build a bridge between Web3 and Web2 companies. This will give the firm validated data and experience flawless contracts.

Launchpad XYZ Features

To make its platform stable, the project team developed an ecosystem with a token of utility, $LPX, and some features to make its users active.

These features are a Play-to-earn game hub, NFTs, fractional assets, Web3 wallet, trading terminal, presale of Web3 projects, Metaverse experience library, A.I. search and custom LLM, Launchpad Quotient, and NFT decentralized exchange.

$LPX Presale

Launchpad XYZ’s presale is live and has witnessed massive success since the presale launched. It has recorded a milestone of $1 million.

As of Today, July 17 $LPX’s selling price is $0.0445, and it has raised $1.1 million, heading towards its presale benchmark of $1.5 million for the stage.

As the presale progresses, the next market value for $LPX will be $0.046. The team at Launchpad XYZ promised to list the token at $0.0565 after the presale.

How to Purchase $LPX

To acquire some units of $LPX, the first thing to do is to get a dApp crypto wallet.

Ensure you have either: BNB, USDT, or ETH, although you can use fiat currency (with bank cards).

Visit Launchpad XYZ’s website, and navigate the site to get the presale section.

Choose the currency you have .

Put the amount you want to spend for $LPX.

The presale is set on the Ethereum network as default, so if you use ETH or USDT without changing the default network, ensure you have 0.015 ETH for the network’s gas fee.