Polkadot’s price exceeds the expectations of various crypto technical analysis, Cardano keeps on building and this may drive the prices higher than the current TA suggests for ADA. HedgeUp (HDUP), a new type of investment platform, has just increased in price by 44% as it goes into the second stage of an eight stage presale.
Polkadot Continues to Grow, Even as Technical Analysis Looks Bearish
The launch of Polkadot’s parachains has been extremely successful and they now have over 300 dapps on chain, and a large number of developers second only to Ethereum, according to Polkadot’s latest report.
Analysis from TradingView shows that DOT/USD has exhibited a persistent bearish trend over the previous month. The market initially responded to a supply/demand zone, and subsequently, the demand zone was breached, which is now serving as a supply zone. During a test of the zone, a bearish doji candlestick pattern appeared. Additionally, there is a correction at the 0.5% level in the Fibonacci retracement of the previous downtrend.
CoinCodex has predicted that Polkadot (DOT) will experience a decline in value to $5.72 USD by April 5th 2023. While Changelly’s data anticipated that Polkadot (DOT) would trade at around $5.88 in March 2023, which is actually lower than what actually happened, with the minimum and maximum prices they predicted being conservative, at approximately $5.37 and $6.04, respectively. Their minimum was accurate but Polkadot (DOT) reached as high as $55.00 on November 4th 2021 and is currently trading at $6.01.
According to Cryptopredictions.com, during April 2023, the projected maximum price for Polkadot (DOT) is $7.546, while the minimum price is expected to be $5.1313.
Cardano’s Rapid Development May Mean ADA Exceeds Technical Analysis Predictions
After what seemed like a slow start for such an established project, Cardano(ADA) has been going from strength to strength since they released the possibility for smart contracts, and now has a staggering amount of dapps (over 1000!) being built on chain, with around 100 already released. Development is getting easier as Cardano (ADA) Hydra testnet went live about a month ago. Hydra is Cardano (ADA) layer 2 scalability solution, aiming to increase transaction speed and reduce fees.
Technical analysis from changelly.com suggests that the ADA price will hover around $0.39996 at the end of summer 2023. However, in August 2023, Cardano (ADA) may experience a dip, with a possible minimum value of $0.389961. Conversely, there is an expected peak value of $0.429957 in the same month. Moreover, according to technical analysis carried out on Cardano (ADA) price trends for 2023 from the same website, the minimum price of Cardano (ADA) is expected to be $0.449955. The maximum potential value that changelly says ADA can attain is $0.509949. The average trading price is expected to be approximately $0.4599541.
On ambcrypto.com, another crypto analysis website, the most bearish scenario for Cardano (ADA) price in 2023 is projected to be around $0.29 for ADA.
That said, technical analysis doesn’t make reference to the exponential development we have seen on Cardano (ADA) and so these price predictions may be surpassed if Hoskinson and co continue to deliver, and we could say the same thing for Polkadot.
HedgeUP (HDUP) Wants to Change Up Your Portfolio as HDUP Rises
Whilst networks and protocols like Cardano and Polkadot power on chain activities, these would be nothing without the dapps being built on them, such as HedgeUp (HDUP) new alternative asset investing program. HedgeUp (HDUP) is being built on Ethereum but has plans to expand on to other chains and distributed ledgers. Essentially, HedgeUP (HDUP) offers ordinary investors the chance to add things like diamonds, watches, gold, whisky, art and other goods from the luxury asset class to their portfolio.
HedgeUp (HDUP) uses fractionalized NFT technology to represent the stake that an investor has in a product or item. Their smart contracts have been successfully audited by Solidity Finance for safety. HedgeUp (HDUP) have decided to do an open presale, and promise that early token holders not only have the chance to make big gains, but will receive additional exclusive benefits.
Also everyone in the HedgeUp (HDUP) community will be encouraged to join the DAO which will bring a participatory element to investing, not seen in traditional finance. HedgeUp (HDUP) is currently for sale at $0.013, and with a minimum listing price of $0.09, that’s a 60x profit before the token even launches to the wider public.
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