Cardano Price Prediction: ADA Falls 7% as Crypto Markets Retrace – Time to Buy the Dip?

Cardano (ADA) is seeing a bounce off key support in the $0.28 area in the form of its 21-day moving average and trending up from the June lows.

The bounce, which occurs when crypto markets breathe a sign of relief in the wake of US jobs numbers not as attractive as fearedkeeps hopes alive that ADA has formed a bullish ascending triangle structure.

These technical patterns tend to form before a bullish breakout.

So, with ADA still nearly 7% below previous weekly highs in the psychologically important $0.30 area as the broader crypto market pulls back, is it time to buy the dip?

Price Prediction: What's Next for Cardano (ADA)?

With Cardano still in the process of forming a short-term bullish technical structure, the bulls are short-term and bullish. price predictions They are therefore bullish.

If ADA can break through the resistance in the $0.30 area, this could open the door for a quick recovery to its 200 DMA and the resistance in the $0.35 area.

If ADA manages to carry out this rally, it would have recovered practically all the ground lost after the The US Securities and Exchange Commission labeled it a security this time last month.

And it's not just the technicalities that suggest an ADA recovery is on the cards.

Blockchain decentralized finance (DeFi) The ecosystem continues to go from strength to strength, despite SEC FUD (which stands for Fear, Uncertainty and Doubt).

according to DeFi Flamethe total USD-denominated value locked (TVL) of crypto locked in Cardano smart contracts (through Cardano decentralized applications) has once again surpassed $200 million and is almost back to yearly highs.

Meanwhile, the ADA-denominated TVL continues to reach new all-time highs.

All of that said, while US regulatory uncertainty continues to weigh on the ADA, now could be a good time to buy the dip.

Buy Cardano now

Cardano (ADA) Alternative to Consider: DeeLance (DLANCE)

A new and innovative web3 project called DeeLance is building a metaverse powered by cryptocurrencies and NFTs that, for the first time in the industry, places the job market on the blockchain.

The project, which is touted as one of the hottest crypto startups of 2023, is building a metaverse to unite freelancers and employers and promises to revise remote work forever, as well as the $761 billion dollar recruiting sector.

Using the decentralization and transparency of the blockchain, DeeLance wants to eliminate overly powerful intermediaries like Fiverr and Upwork that have abused both freelancers and employers for the past decade.

DeeLance is already generating a lot of buzz in web3 circles and some observers believe it could upend the still-heavy web2 platform-focused freelance/gig economy.

The project has already raised a whopping $1.5 million in just a few months since the launch of its $DLANCE pre-sale token.

DeeLance also recently secured a huge strategic investment of $1.12 million from major venture capital firm Bitgert Ventures, a sign that institutions are increasingly taking notice of the project's potential.

Investors are encouraged to quickly move into the safe tokens, as when the pre-sale reaches $1.7 million, the price will rise from its current super cheap level of $0.038.

With DLANCE set to debut on major cryptocurrency exchanges later this year at $0.57, investors jumping in now can make profits of around 50%.

Adding to the excitement is a massive $500K $DLANCE token giveaway competition that DeeLance is running.

The top five wallets that purchase the most $DLANCE between now and the end of the fourth stage of the pre-sale will be rewarded with a share of $500,000 worth of $DLANCE tokens.

$DLANCE can be purchased using ETH, BNB, and USDT (the ERC-20 and BEP-20 variants).

Buy DLANCE here

^{Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all your capital.}