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As Ethereum and Cardano correct, whales shift focus to DTX Exchange following its testnet launch, solidifying its status as 2024’s standout project.
The new transactions report showed that the Ethereum and Cardano whales who were betting small in new projects have gone all in the DTX Exchange after the launch of their DTX testnet. This launch by DTX is a massive move.
Again, the correction has started in the crypto market, with market leaders Ethereum and Cardano correcting it in the last three days. This makes the current situation the perfect opportunity to try hands at new projects like DTX.
Lower wedge trendline holding the Ethereum price
Ethereum has been trading in the opening wedge pattern since the start of March this year and has received support from the lower trendline at various times. Once again, Ethereum is trading near the same support zone after bouncing off from it. This support in ETH is crucial because the next support zone after it comes at the $2,344 level.
The MACD EMAs are still below the zero line in ETH, indicating the price’s bearish strength. The market’s direction will also impact the Ethereum price and its future direction.
Cardano close to form a bearish crossover
The price action after the ADA correction has been weak. ADA’s RSI has dropped to around 51, and the moving average convergence divergence is proceeding to form a bearish crossover, with the long-term moving average crossing above the short-term moving average. This is a caution signal for Cardano traders as more downsides may come.
Additionally, after the drop, Cardano price is trading below the 50-day MA, a big indicator of price weakness. If Cardano breaks below the 5th August low, another bearish trend can start, and a new low can be formed in Cardano.
DTX Exchange provides major opportunity
After the DTX testnet was launched on the DTX Exchange, experienced crypto experts say it could be the most successful project in the year 2025. They further predict that DTX Exchange could provide a 72x profit margin.
DTX Exchange provides a new kind of trading experience through the 1000x leverage without a KYC process. Using non-custodial wallets and distributed liquidity pools, users can store the precious assets safely.
Also, the decentralized nature of the blockchain ensures users have total control of their assets, therefore aligning with the blockchain’s security and ownership. DTX Exchange is even more reliable than Ethereum and Cardano which are still in the recuperation stage, especially with the upcoming VulcanX upgrade. The upgrade will help improve the rate of adoption of the blockchain, improve security, and transaction charges will be reduced, therefore requiring little human intervention.
The hybrid TradFi platform is a one-stop destination for all users as it offers advanced automation and easy-to-access trading strategies. DTX Exchange has already secured $1.6 million in seed investment from the presale, with the help of its scalable infrastructure and superior roadmap.
To learn more, visit the presale website, the official DTX website, and join the DTX community.
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This article first appeared at crypto.news
