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A top analyst, Dan Gambardello, has advised the Cardano (ADA) community to remain optimistic despite the cryptocurrency’s poor price movement in the past month. Gambardelloshared some technical indicators that the ADA community should watch for bullish signals in the coming weeks.
On the flip side, one of the top altcoins that have raked in a lot of gains, Solana (SOL), has hit a roadblock. SOL has plunged to the $170 level after facing tough resistance on its way to $200. The Lunex Network (LNEX) has raised over $1.63 million in funding and could hit $2 million in November.
Cardano’s (ADA) Boring Phase Ends Here, Says Gambardello
Dan Gambardello suggests that Cardano (ADA) may be on the verge of a major breakout. He told the community to remain calm and that the Cardano ADA is currently in a consolidation phase and matches historical patterns.
Gambardello said the community should look for higher highs in the RSI while also looking for a buy signal from the MACD. He also noted that although the Cardano coin has been negative for a long time, it ends here.
His analysis suggests that there might be a change of events in November. The Cardano crypto is still hovering around the $0.3 mark and is up by 5.0% on the weekly chart, as per CoinMarketCap data. The position of ADA on the 14-day RSI has increased to 50, which can be considered as the beginning of the upward movement.
Solana (SOL) Faces Resistance, Price Drops
Solana (SOL) has suffered a setback on the road to $200. The cryptocurrency rose from a low of about $162 to a peak of $182 on the weekly chart on CoinMarketCap. While many expected a price rally to $200, the Solana coin could not surpass the resistance at the $180 level.
For now, the Solana crypto is still consolidating around the $170 mark. The 14-day RSI of SOL hints that the uptrend could also extend into November. Therefore, the altcoin price may see another retest of the $180 level in the weeks to come.
Meanwhile, the latest Solana price drop came after Canary Capital filed for a SOL ETF. Analysts believe the increasing demand for this crypto product could push the value of Solana (SOL) to $250 in the coming weeks.
Lunex Network (LNEX) Rises By 60%, Closes in on 18% Price Pump
Lunex Network (LNEX) has stood out as a top ICO in the market in the last few months. For those who bought during the first stage, the value of their portfolio has surged by 60%. Smart investors are already in the presale at stage five and purchasing LNEX at $0.0019.
Market watchers say the price of the coin may increase by 1,800% by Q1 2025. However, buyers have nothing to fear. The team tokens will be locked for 24 months to stop dumping after launch. Furthermore, to prevent rug pulls, the project’s liquidity pool will also be locked for the same period.
Lunex Network is a non-custodial digital currency trading platform quickly growing in popularity. One of its primary purposes is to let users exchange and trade cryptocurrencies with or without the cost and across multiple chains such as ETH, BNB, etc.
In addition to this, the platform has a portfolio tracker. Traders can use this tool to monitor their assets and their price performances. Furthermore, those who have the LNEX coin are entitled to benefits like discounts, rewards, passive income from staking, and lots more.
Conclusion
While Cardano (ADA) supporters are waiting for a breakout, Solana (SOL) could drop to former levels if the downtrend continues. Meanwhile, analysts have tagged Lunex Network as a good crypto to buy based on its unique features and offerings.
You can find more information about Lunex Network (LNEX) here:
Website: https://lunexnetwork.com
Socials: https://linktr.ee/lunexnetwork
Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
