Crypto Market Revives: Cardano & Tradecurve Surge, Can They Sustain?
• The cryptocurrency market has experienced a decline due to SEC legal action and the classification of Cardano (ADA) as a security.
• In the past week, Cardano and Tradecurve have seen major price surges, although their long-term sustainability is uncertain.
• Tradecurve’s utility token, TCRV, has set a new high after experiencing a 20% increase in the past week.
Cryptocurrency Market Decline
The first two weeks of June saw the cryptocurrency market suffer major losses due to pressure from the Securities and Exchange Commission (SEC). Specifically, the SEC filed lawsuits against crypto exchanges and classified Cardano (ADA) as a security.
Over the last week there has been an overall revival in the crypto market, leading to price upswings across various coins and tokens. Notably, two standout performers during this period have been Cardano and Tradecurve with substantial price surges.
Cardano Price Prediction
After facing pressure from classification by SEC as a security, Cardano is exhibiting signs of recovery with an 8% price gain on June 21st rising from $0.24 to $0.28 followed by another 8% gain reclaiming the crucial $0.3 level on June 22nd. Additionally, it has broken above resistance at $0.2882 making it a support level while trading below 50-Day and 200-day Simple Moving Averages (SMA). Support levels for Cardano are at $0.282783, $0.275616 & strongest at $0.264814 & resistance levels are at $0.300752 ,$0.311554 &$0 .318721 respectively according to DigitalCoinPrice’s projections expecting it to reach minimum price of 0 .36 before end of year .
Tradecurve New Trading High
Tradecurve is gaining attention due to its strong performance with its utility token TCRV setting new highs after increasing by 20% in past week which can be attributed to its appealing features including access to wider range of markets & no strict KYC checks .
The cryptocurrency market is showing some signs of recovery with both Cardano (ADA) & Tradecurve performing well however whether these gains can be sustained or not remains uncertain .