Cardano (ADA) is expected to make another major fall on its way to recovery. Polygon (MATIC) gets the same bearish forecast after falling 4.12% during the day.
With the exhaustion brought by the recent turnaround, crypto enthusiasts focus on new crypto projects like The Hideaways (HDWY), which is forecasted to end 2023 with at least a 6,000% increase.
Cardano (ADA) Will Make a Major Fall Before Attempting a Recovery
Top analyst predicts Cardano (ADA) will make another major fall before consolidating momentum to recover.
In the latest charts, the coin has retraced 1.31%, which sent the price back to the $0.40 level. It is currently exchanging hands at $0.4423.
With its intraday high at $0.45 and intraday low at $0.44, ADA is trading in a restrictive manner – trading volume has fallen to $81 million from $122 million the previous day.
The last 7 days were difficult for bulls as bears took the price nearly 9% lower. Over the weekends, we can see the price falling to $0.42 if RSI keeps falling from its current level at 46.0 to the 30.0s.
As analysts predict, Cardano (ADA)’s chart shows a descending triangle pattern that hints at the possibility of another major fall. This means we might see the coin revisiting the $0.37 level before pulling up.
Polygon (MATIC) Will Remain in the Hands of the Bears
Another crypto major, Polygon (MATIC), gets a bearish forecast from analysts due to its strong ties with the Ethereum blockchain. Ethereum (ETH) has recently fallen to the critical support zone at $1,400 as the Merge’s future remains a matter of question.
Polygon (MATIC) is down 4% to $0.80 at press time. This extends its losing streak in the last 7 days, which sent its price 10% lower.
Analysts forecast MATIC revisiting $0.76, with its descending RSI that retraced to 43.69 from September 12’s 59.24 – a clear indicator of sellers’ dominance.
Moreover, the 20-day EMA is nearing a crossover with the 50-day EMA, another indicator of a bearish streak.
Polygon (MATIC) can fall to a July low found at $0.52 by the end of the month if a pattern reversal to the positive territory does not show.
Presale Superstar $HDWY Jumps 100% In 2 Weeks As Team Delivers On Updates For Investors.
Investors are starting to see the underlying potential of The Hideaways (HDWY) now that Cardano (ADA) and Polygon (MATIC) are at their respective bear zones.
The Hideaways (HDWY) is a new crypto project that’s in the real estate business. For as little as $100, investors can own an NFT backed by real-world assets.
The platform offers investors three main ways to make money:
- Capital appreciation from selling asset-backed NFTs on the secondary market
- A share of the company’s monthly rental income
- Rewards from staking their HDWY coin
The Hideaways started its presale at $0.01 per token, and our experts picked it at this price. Since then, HDWY has jumped by 100% to $0.02 while the ADA and Matic prices have been down only.
Our analysts still think this is a good project to buy into with regular updates, a verified audit by SolidProof, and more and expect the price to be $0.2 by launch time (a 1000% increase).
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