Cardano (ADA) has experienced a -20% dip in its price over the past 27 days, with ADA bulls currently striving to establish a solid support level above $0.35. Trading at $0.36 at the time of writing, the digital asset’s outlook appears increasingly bearish, especially given Bitcoin’s potential reversion to $25,000, which would put markets on high alert.
The steadfast support offered by the MA200 is a silver lining amidst these ominous signals; however, the MA20 continues to act as localized upper resistance. The rising RSI, coupled with price movements that don’t reflect this trend, may point to serious trouble. The MACD also validates this bearish perspective, displaying a minor divergence at -0.0036.
If ADA is to reclaim higher ground, it needs to traverse the MA20 in the short-term at $0.40 (+9.5% gain). However, the asset’s downside risk is high, with the nearest lower support level at $0.30 (-17.8% drop), resulting in a mediocre Risk: Reward ratio of 0.54.
Despite the bleak outlook, the Green Recycle-to-Earn (R2E) project, Ecoterra, presents a promising and sustainable pre-sale opportunity. Harnessing blockchain technology and environmentally friendly practices, Ecoterra incentivizes recycling and reducing carbon emissions, presenting a fusion of sustainability and crypto investment.
With its R2E pre-sale approaching $3.5 million and a current price of $0.00775 per ECOTERRA token, investors can potentially obtain a 30% return when listed at $0.01. The upcoming price increase to $0.0085 poses a significant opportunity for early backers.
Ecoterra recently showcased its project at the Istanbul Blockchain Summit, increasing its visibility within the crypto sphere. Rumors of potential partnerships with major centralized exchanges further enhance ECOTERRA’s prospects for its token launch. The project’s verified and audited status is a testament to its security, legitimacy, and dedication to sustainability.
As Cardano (ADA) continues to yield bearish signals, Ecoterra offers an enticing alternative for eco-conscious investors looking to align their portfolios with a greener future. Amid the challenges faced by other sustainable crypto assets like Cardano, the wise investor might find considerable opportunities in directing their resources toward projects like Ecoterra during this crucial time.
*Disclaimer: The cryptocurrency projects mentioned in this article are not financial advice from the author or publication. Cryptocurrencies are highly volatile investments with significant risk; always conduct thorough research before investing.
Source: Cryptonews
