The crypto market is abuzz with positive sentiment as top altcoins record gains as Bitcoin sets a new all-time high. Cardano (ADA) is aiming for the $1.2 mark. On the other hand, Bitcoin Cash (BCH) has retraced to lower levels. However, it remains bullish on the higher timeframes.
Meanwhile, DTX Exchange (DTX) has announced that its Phoenix Wallet is under review and could launch on the Google Play Store soon. The launch could fuel more gains for the DTX coin which has already increased by 400% to reach $0.1.
Cardano (ADA) Breaks Out of Triangle Pattern, Targets $1.2
Cardano (ADA) climbed above the $0.8 level on November 20 for the first time since 2022. The upward movement was well-received by members of the ADA community, who expected the rally to continue to $1.
However, selling pressure hit the market, and the Cardano coin returned to the $0.7 level. Nevertheless, the token has gains of 36.0% on the weekly timeframe and 123.2% on the monthly level, per CoinMarketCap.
The year-to-date Cardano price chart even has a profit of 105.7%. Market Spotter says ADA has broken out of a triangle formation. They forecast a price pump to $1.2 soon. Meanwhile, the sentiment around Cardano ADA has improved.
Ali Martinez revealed that the volume of large transactions has soared by 297% in the last two weeks. This increase in large transactions shows that whales are bullish about ADA. They believe the altcoin price may rally in the next few weeks.
Bitcoin Cash (BCH) Remains Bullish Despite Price Dump, $590 in View?
Bitcoin Cash (BCH) is having a tough time returning to the $480 weekly high it set on November 16. The cryptocurrency has been trading in the $430-$460 range in the last few days.
According to CoinMarketCap, the Bitcoin Cash coin has risen by 17.1% and 19.9% on the biweekly and monthly charts, respectively. Moreover, the Bitcoin Cash token is trading above the 200-SMA ($398.10), which is a bullish sign.
Analysts expect the value of the altcoin to rise in the coming weeks. CW predicts the value of BCH may soar to $590. According to the analyst, the Bitcoin Cash price is trading in a triangle and could breakout anytime from now.
In an earlier post, CW noted that the cryptocurrency was about to complete a cup and handle pattern. The analyst predicted a price target of $720.
DTX Exchange (DTX) Offers Multiple Assets Trading
DTX Exchange (DTX) is an exciting new hybrid trading platform that supports stock, crypto, and forex trading under one platform. The DeFi project is positioning itself as the first of its kind in the cryptocurrency trading market, allowing users to access the $714.7 trillion OTC market with only one wallet. It also allows users to enjoy high liquidity, fast trades, low fees, privacy, accessibility, and security all in one place.
Unlike many platforms that require traders to go through the know-your-customer process to verify their identity, DTX upholds the privacy of its users. They can trade without having to submit identity cards. In addition, DTX provides a higher leverage of up to 1000:1. It allows traders to make large profits from little trades.
Meanwhile, DTX Exchange just announced that its Phoenix Wallet is under review by the Google Play Store. If successful, it could launch on the platform in the coming weeks. DTX Exchange is currently in the presale phase and has raised over $8.3 million. The DTX coin is priced at $0.10, but experts predict a price surge to $1 after the launch of the Phoenix Wallet.
Final Thoughts
Whales’ interest in Cardano (ADA) has increased in the past few weeks. Analysts predict a potential rally to $1.2 in the coming weeks. Meanwhile, DTX Phoenix Wallet could be launching on Google Play Store soon. This wallet could be a game changer as traders can use it to hold both traditional financial instruments and cryptocurrencies.
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