Saturday, 25 May 2024

Crypto News

Cardano (ADA) bullish as investors flock to KangaMoon (KANG) in final presale stage

Cardano (ADA) bullish as investors flock to KangaMoon (KANG) in final presale stage

  • Analyst shares bullish Cardano (ADA) outlook as KangaMoon (KANG) gets investor attention.
  • Cardano price could rally to $1.70 amid anticipated bounce for Bitcoin (BTC).
  • KangaMoon (KANG) offers a potential investment opportunity with its presale currently in stage 5.

Cardano (ADA) is down 4% in the past 24 hours and more than -20% in the past month. However, an analyst has shared a bullish outlook for ADA, noting the coin’s current consolidation.

Meanwhile, investors eyeing new gains are also taking position with KangaMoon (KANG), a new project exciting the market for its unique blend of SocialFi and play-to-earn (P2E).

What’s the outlook for Cardano? Analyst shares potential buy scenario

Cardano has declined nearly 22% in the past month and is currently hovering around $0.58, about 4% down on the day. This comes as ADA struggles since mid-March when it traded above $0.8, have pushed it towards a critical support area.

Grayscale recently updated its digital large cap fund and dropped ADA. Cardano is also currently out of the top 10 cryptocurrencies by market cap after Toncoin (TON) flipped it amid a massive surge earlier this week.

Despite this, the 11th ranked cryptocurrency is up close to 50% in the past year. Crypto analyst Ali posted a bullish scenario for Cardano on X.

Nothing has really changed for #Cardano. $ADA is exactly where it should be, consolidating in the $0.55 to $0.80 range before a breakout to $1.70!,” the analyst opined.

Ali says ADA could swing to $5 if a breakout above $1.70 follows, which suggests this might be a good time to buy the altcoin.

KangaMoon’s attracts investors in final presale stage

As investors take a look at current market scenarios, scouring the space for investment opportunities, one project that’s standing out is KangaMoon.

While the new project combines the strength of SocialFi and play-to-earn (P2E), it also takes a lead among emerging utility-focused meme tokens. KangaMoon thus brings the best of GameFi, meme coins and community-driven crypto to the market.

KangaMoon takes a fun-filled crypto environment and adds to it a huge earning incentive – creating a platform where token holders can interact, compete and earn. KANG holders can earn with the tokens right away by participating in contests and challenges. Holders don’t need to wait for launch to start earning.

It’s this…

Click Here to Read the Full Original Article at CoinJournal: Latest Crypto News, Alt Coin News and Cryptocurrency Comparison…