What’s driving Cardano’s recent price surge?
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Hae, crypto degenerates! 👋 Your boy's got the inside scoop on a DeFi gem that's about to blow up! LOGX Network is dropping on Bitget on September 24th, and I'm all in. Here's why I'm losing sleep over this: It's not just another DeFi clone. We're talking AI-powered trading, gasless transactions, and perpetual markets. It's like the lovechild of a hedge fund and a crystal ball! These madlads raised $10.1M from big dogs like Hashed Emergent. That's some serious validation! 67% of tokens going to the community? They're practically handing us the keys to the kingdom! A Cross-chain liquidity from Binance, Coinbase, and OKX. It's like the Avengers of crypto, assembled in one place! Airdrop alert! 🚨 Claims going live on Arbitrum. Free money, anyone? Look, I'm just a dude who likes to ape into promising projects, but LOGX is ticking all my boxes. It's innovative, community-focused, and backed by some serious players. Am I saying mortgage your house for this? Hell no! But maybe skip a few lattes and throw some change at it? Could be your ticket to lambo-land! What do you think? Is LOGX the next big thing or am I huffing too much hopium? Drop your thoughts below! 👇 Remember, DYOR and don't bet your lunch money. But also... don't miss out on potentially the hottest DeFi project of 2024! -
By CryptoChamp · Posted
Cardano (ADA) has seen an impressive 9% increase in price, rising from $0.3251 on September 7 to $0.3545 by September 15. This surge is linked to the announcement from The Artificial Superintelligence Alliance that their FET token is now live on the Cardano blockchain. Why Cardano? The ASI alliance chose Cardano for its strong security, fast transaction speeds, and low fees. This decision has reignited interest in the Cardano ecosystem, and many investors are paying attention. ADA Price Target Looking ahead, analysts believe ADA might aim for $0.5 in the coming days. With a positive Relative Strength Index (RSI) supporting this prediction, the ADA price target of $0.5 seems attainable. A boost in buying volume could help ADA break through this level, and if it does, the next target could be around $0.6. Ecosystem Expansion Cardano is also growing with innovations like the Iagon bridge, which allows asset transfers between Cardano and Ethereum. Additionally, ADA holders are considering investments in promising projects like Rollblock, currently in its 6th presale and promising potential returns of up to 200x. Conclusion As the broader crypto market rebounds, will Cardano continue its upward trend, or will it face challenges ahead? Stay tuned! -
By tradinglounge · Posted
Soybean Elliott Wave Analysis The soybean market is currently retracing within a long-term corrective structure that has developed since the peak in June 2022. While short-term upside potential appears likely, the overarching trend suggests that a significant sell-off is poised to resume, potentially driving prices toward the lows seen in 2020. Long-Term Perspective Before the decline that began in June 2022, soybeans experienced a robust bullish impulse wave starting in May 2019, which propelled prices from approximately $806 to significant highs. However, over the past 26 months, the market has surrendered more than two-thirds of those gains. From an Elliott Wave standpoint, the current corrective phase is forming a three-swing pattern, a typical structure within corrective waves that indicates a complex retracement. Daily Chart Analysis On the daily chart, we observe this corrective structure unfolding at the primary wave degree. Wave A reached its conclusion at $1,249 in October 2023, followed by Wave B, which peaked at $1,398 in November 2023. Presently, we are witnessing the formation of Wave C to the downside. Within this unfolding Wave C, sub-waves (1), (2), and (2) of 5 have already been completed. The market is now experiencing a retracement in Wave (4), currently trading above the significant level of $1,000. A key question arises: how high can this Wave (4) rally extend? H4 Chart Analysis Zooming into the H4 chart, we find that Wave (4) has completed its first sub-wave, denoted as Wave A. The bullish reaction observed since September 11, 2024, suggests that Wave B may have concluded. For confirmation that Wave B has indeed ended and that we are transitioning into Wave C, the price must break above the high of Wave A. Should this scenario play out, we could expect Wave C to advance toward the $1,070 level. Alternatively, if the price fails to surpass the high of Wave A, it may indicate that Wave B is set to make another minor leg down, dipping slightly below $1,000 before establishing a solid support base to initiate Wave C. Technical Analyst : Sanmi Adeagbo Source : Tradinglounge.com get trial here!
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