Cardano’s value is by all accounts building bullish help at current levels. Moreover, on-chain measurements for Cardano (ADA) indicate that this move is feasible. Cardano’s value fell 32% between December 2 and December 4, yet recuperated over the USD 1.192 help level. This retest enabled ADA to recuperate 15% to its present cost around USD 1.28 This decrease follows a 12-week fall in Cardano’s value, implying that ADA is currently intensely oversold. Therefore, it’s conceivable ADA could build up another high above USD 1.446, signalling the beginning of a recuperation rally.
While transaction data indicates a strong resistance levels around USD 1.70, social volume indicates massive retail interest. Cardano’s social volume metric increased by 832 per cent in the last 24 hours, from 328 to 3059. Interestingly, this uptick last occurred in August, just prior to ADA setting a new all-time high of USD 3.10.
This indicates that ADA is preparing to retest the subsequent resistance levels at USD 1.606. After clearing this level, USD 1.749 will be its next barrier. If ADA retests this level, the ascent will be a 27 per cent increase from the current level.
Finally, between December 3 and 4, the on-chain volume of ADA reached a higher high of 3.86 billion and a lower low of 4.33 billion, while Cardano’s price reached a lower low.
While Cardano’s price is improving, a failure to establish a higher high above USD 1.446 indicates that buyers are unwilling or unable to step up to the plate. In this scenario, ADA could retest the USD 1.192 support level.
This difference in the on-chain volume and ADA price reveals a bearish divergence, indicating that Cardano’s price is poised for a rally.
If Cardano’s price makes a lower low below USD 1.192, the bullish thesis is invalidated, and ADA may crash to retest the USD 1.02 support floor.
HUH Token (HUH)
New cryptocurrency HUH Token has launched on PancakeSwap, and the price may experience a debut surge as a result of the token’s strong fundamentals and solid presale levels.
HUH Tokens initial coin offering (ICO) is at USD 0.00564 and its first psychological barrier will be set at
USD 0.00600. If it can overcome this barrier, the new cryptocurrency could experience a surge upwards. Volatility is to be expected as the new token finds its feet. Traders looking to profit from any upswings will add to the volatility in the coming weeks as the long-term bulls begin to form a base.
HUH Token (HUH) has a total supply of 888 billion, according to their White Paper, with 1% (8,880,000,000) already allocated during the presale. Additionally, it charges a standard buy fee of 15% and a standard sell fee of 20%. These tokens will be distributed as follows: Normal Buy Fee: 15%:
5% Liquidity Pool Acquisition
5% HUH Token Redistribution
5% Marketing Wallet
Normal Sell Fee: 20%: 10% Liquidity Pool Acquisition
5% HUH Token Redistribution
5% Marketing Wallet
HUH Token will have a 5% Dev Wallet that will be used to compensate developers for continuing to improve and adapt HUH Token for the future. The Marketing Wallet is at 10%, and HUH has a robust marketing strategy in place, including the signing of top social media influencers to help promote the token. Within the first 12 months, HUH Token intends to be listed on approximately 100 exchanges. If this happens HUH’s price will become more bullish with each exchange listing, as access to the token becomes easier and more widespread.
Additionally, HUH’s creators have locked in USD 1 million of liquidity for two years from the date of launch to bolster long-term sentiment.
News Summary:
- Cardano Price Prepares for 25% Jump After Crypto Crash and HUH Token Launch
- Check all news and articles from the latest Business news updates.
