Following a triumphant rise, Cardano (ADA), ushered an upward momentum of nearly 10% over the key $0.31 resistance level on Thursday, fueled by a favorable ruling regarding XRP’s status. Parallel take-offs were seen in the crypto world as a general reaction to the judicial verdict which dismissed the Securities and Exchange Commission’s (SEC) claims of XRP being classified as an unregistered security.
Historically viewed, SEC’s stringent guidelines and consistent scrutiny of crypto assets had led to a fall in their prices. Cardano too witnessed a significant drop in its value amid the legal battle with SEC, which attempted to classify it as a security. The recent verdict favoring XRP has significantly weakened SEC’s argument, therefore, propelling Cardano’s value back up. Other cryptocurrencies like Solana (sol) and Polygon (MATIC) have also been rightly acknowledged.
Cardano’s recent surge has paved the way for a massive 44% recovery from its June lows. It broke through a short-term pennant structure which is perceived to spark off an increase in buying activity. It also surpassed its 50-Day Moving Average, reinforcing the 21DMA level as a strong support.
Hence, projections are bright for Cardano, the path ahead expected to test its 100 and 200DMA and May lows in the $0.35 area. An increase beyond this would stimulate a run towards the yearly highs at $0.46.
Adding variety to their portfolios, investors can consider a risky yet potentially rewarding strategy that involves presales in up-start crypto projects. This helps fund development and offers tokens at cheap rates. One such start-up is yPredict, a web3 platform using AI for institutional-grade financial price prediction. This system helps investors spot the next explosive crypto and is easily accessible free of charge.
yPredict aims at revolutionizing crypto research and trading by introducing AI-powered signals, pattern recognition, and sentiment features. It is also developing a first-of-its-kind AI model, Alt_Pump_001, designed to predict the next pump on alternate coins, among other innovative tools.
In the thriving crypto sphere shaped by AI, projects like yPredict are believed to garner high interest. This is what makes its native token, $YPRED, an attractive investment option. Raising over $2.9 million by July 7th, it’s essential for investors to act promptly to beat the next presale price hike. Therefore, investment avenues as such provide for a promising crypto-future.
Disclaimer: Crypto is a high-risk asset class. This article provides information but does not endorse investments. There is a potential for substantial capital loss.
Source: Cryptonews
