The crypto market has continued to trade in the red zone, with Bitcoin down from its ATH of $73.000 to $67.995 and Ethereum plunging below $4000. SEI’s price has decreased by 7% over the past month, while Cardano’s has dipped below $0.7. However, analysts are still optimistic about most major altcoins, suggesting that this slump results from many coins being overbought due to FOMO.
In other words, the market is getting rid of speculators. In the presale arena, BlockDAG (BDAG) is grabbing headlines after its keynote debuted in the heart of Tokyo, attracting a massive influx of investment into its presale.
Cardano Dips To $0.68
Cardano (ADA) has dipped alongside the market-wide correction, currently trading just above $0.68. However, analysts are still optimistic about Cardano’s long-term potential.
Notably, Ali, a prominent analyst with over 50,000 followers on X, has provided an optimistic forecast for Cardano (ADA). He parallels ADA’s current price action and a fractal pattern observed from 2018 to 2021, indicating the potential for ADA to consolidate between $0.55 and $0.80 soon. After this consolidation, Ali predicts a price surge to $1.70 and a further breakout after another consolidation phase, with an aim of $5 per ADA token.
Bullish Outlook for SEI
Over the past week, SEI fell by 1% and by 8% over the past month. However, compared to SEI’s price a year ago, SEI is up by a staggering 10731.65%. Furthermore, the current sentiment for SEI is bullish, with the Fear & Greed Index at 77.
Like with Cardano’s dip, analysts still maintain an optimistic outlook for SEI despite this downturn. According to Bluntz, “2$ is not outside the realm of possibility” for SEI.
BlockDAG – Top Decentralized Crypto 2024
BlockDAG, a new PoW project inspired by Kaspa, quickly gained prominence in the presale market by securing $1 million within 24 hours of its first presale batch. BlockDAG has secured $5.2 million in its third presale batch, showcasing immense early investor support.
Besides its presale success, BlockDAG is noteworthy for its recent keynote release in the heart of Tokyo. The keynote showcased BlockDAG’s vision, roadmap, and value proposition, and it went viral, attracting a massive influx of investment to BlockDAG’s presale, with significant contributions from whale investors.
Currently, BlockDAG is available at $0.002 in its third presale batch. However, the price is set to increase incrementally with each presale batch, culminating at $0.05 by the time it gets listed on exchanges.
In response to the overwhelming early investor interest and the $5.2 million raised quickly, BlockDAG has announced a $2 million mega giveaway to be won by 50 lucky community members. To participate in the giveaway, follow BlockDAG’s social media channels, submit your wallet address, increase your chances by completing all tasks, and bring friends for additional entries.
In Summary
The crypto market is currently bearish, with significant drops in Bitcoin and Ethereum and declines in altcoin prices, including SEI and ADA. However, analysts remain optimistic, attributing the slump to a market correction from FOMO-induced overbuying. In contrast, the presale market is booming as investors search for opportunities to 100x their returns. BlockDAG has become a notable contender, having raised over $5.2M despite being only in the third batch of its presale.
Invest in BlockDAG presale
Website: https://blockdag.network
Presale: https://purchase.blockdag.network
Telegram: https://t.me/blockDAGnetwork
Discord: https://discord.gg/Q7BxghMVyu