Popular crypto analysts made critical predictions for Cardano, SHIB and BNB! So, what levels are expected? Here are the details…
The return for Cardano (ADA) is near!
The demand for Cardano is increasing!
While the popular altcoin Cardano (ADA) is at the top of the list, it seems to be sitting on solid support after its latest rise that started in early March. This trend could pave the way for a sizable long-term reversal that ADA hasn’t seen in nearly two years. The project’s network activity jumped to 204 billion ADA in the past day. The increase in trading volume indicates increased interest in altcoin. One possible explanation for the increase in large transactions on the Cardano network is the increased use of the platform’s smart contract capabilities. As more businesses and developers use Cardano, the demand for ADA coin is increasing.
This demand, which has increased with the rise in its price recently, has led investors to a large amount of ADA transactions. Instantly, ADA is trading at $0.35. However, the increased network activity may be due to the expectation of future improvement of the Cardano ecosystem. With planned developments and partnerships, investors can position themselves to profit from possible asset value development. As a result, large network transactions may indicate that investors are changing their holdings in anticipation of these events.
ADA caught the uptrend! What’s next?
The strong support level created during ADA’s local rise could form a fundamental foundation as the asset struggles to recover from its multi-year slump. If Cardano can keep its price above this level, it will reassure investors and push the price higher. This could result in a significant bullish reversal predicted by the cryptocurrency.
With the banking crisis, many investors in the USA are turning to alternative investments. According to reports, many investors have recently turned to digital assets. However, traders should pay attention to the indicators to identify the trend when the value of ADA rises. If Cardano can maintain its momentum and overcome major resistances, it could face a new era of growth. On the other hand, the profit of investors is another reason for the significant increase in transaction volume. According to experts, a rise in the ADA price may occur in the near future.
SHIB burning process continues: “Investors turn to SHIB”
About 834 million Shiba Inu (SHIB) were burned last week, according to the Shibburn Twitter account. Meanwhile, 3,053,513 SHIB tokens have been burned in four transactions in the last 24 hours. The daily burn rate increased by 127 percent. We can say that SHIB has gone to the next level in token burns. Increasing burning rates with Shibarium attracts the attention of many investors.
There are many investors waiting for Shibarium. As you know, with the arrival of Shibarium, SHIB and BONE will be used for burning. This can have a major impact on price increases. The platform is currently in Beta. Drawing attention to the importance of SHIB burning before, SHIB leader Kusama said about Shibarium and token burnings, “Burning SHIB is the most important joint effort.”
On the other hand, as we quoted as Kriptokoin.com, instead of purchasing SHIB on the platform, tokens are burned and removed from the general supply. Users can burn by going to Shibarium’s website for this process. They then need to approve a few actions to allow the layer transition. SHIB coins are removed from circulation as soon as the procedure is completed and this is reflected in the maximum supply. According to experts, this framework could be changed or revised in the coming months as test environments offer more realistic conditions.
Investors are keeping a close eye on the Shibburn platform
The Shibburn burn portal and the burn rate on the platform are cited as a particular pattern that could be useful to traders looking to capitalize on spikes in network activity. A detailed look at the historical record of the burn rate reveals that while trading typically climbs towards the end of the week, it remains reasonably stable over the weekends.
This is most likely due to declining market activity near the week’s close. This pattern observed in the burn rate of the Shiba Inu indicates that traders can expect more network activity towards the end of the trading week, with activity decreasing on the weekends. This data can help investors make more informed decisions about whether to enter the market based on their personal trading methods and risk tolerance.
An example of this is that investors enter the market early in the week. This way, investors can take advantage of the expected trend by exiting before the weekend when the burn rate is expected to skyrocket. Some investors, on the other hand, may think differently and prefer to hedge their weekend positions by anticipating future price increases due to the higher burn rate. SHIB adoption could increase as more investors become aware of these patterns, experts say. Instantly, SHIB is trading at $0.00001055.
Binance Coin (BNB) may reach the $500 level in the coming months!
The price of the popular altcoin BNB rose to the level of $ 346 after the crises in the markets recently. Like many altcoins, the BNB price has yet to surpass the November 2021 ATH level. While the payments were temporarily suspended due to Binance’s recent problems, there was no significant sale in BNB.
Over the past seven days, the BNB price has been on a downward trend. Once the price climbs above $345, it is likely to bounce back. However, if Binance Coin (BNB) breaks below the $319 support, the downtrend could resume. On the other hand, BNB, another altcoin that benefited from the banking crisis like other altcoins, has also seen a huge increase in usage rates due to the lack of trust in FIAT.
How high can BNB price go?
Binance Coin (BNB) has performed well in recent weeks, raising hopes for a positive outlook in the coming months, experts said. While the rally has slowed in the past few days, it points to stronger gains in the coming weeks. The market may be taking a deep breath before rebounding momentarily. If banks continue to stumble, capital flows, especially to Bitcoin, will increase. This could momentarily be a big positive development for the largest cryptocurrency exchange, Binance.
Also, according to experts, BNB could retake the $350 limit after the last rally and continue to gain in the coming months. According to experts, with increased interest in buying Bitcoin and other cryptocurrencies, the price of BNB could rise at a rate similar to Bitcoin. In addition, experts draw attention to these 5 critical items for the rise of BNB in the next 3 months:
- Strong support levels : Binance Coin has shown strong support at certain price levels in the past; this may indicate that buyers are willing to enter the market and buy BNB when it reaches these levels. The continuation of this support could help prevent significant price drops and support the uptrend.
- bull chart patterns : Technical analysts may look for certain chart patterns such as ascending triangles or bullish flags that could indicate a potential uptrend in price. If Binance Coin forms these patterns, it could signal that buyers are entering the market and lead to a price increase.
- Positive momentum indicators : Technical indicators such as moving averages, relative strength index (RSI) or MACD (Moving Average Convergence Deviation) can point to potential momentum shifts in the market. If these indicators show an uptrend, they could indicate that the price of Binance Coin will increase in a short time.
- Positive volume indicators : Technical analysts can also look at trading volume to identify possible trend changes. High trading volumes may indicate increased demand for a particular asset, which can push prices higher. If the volume of Binance Coin increases, this may signal that more buyers are entering the market, which could lead to a price increase.
- resistance break : If Binance Coin breaks important resistance levels, it could be a sign of the start of a new uptrend. Technical analysts can look for higher highs and higher lows patterns to confirm a trend change. If Binance Coin breaks key resistance levels, it could signal a bearish to bullish move.
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