Price Prediction for Cryptocurrencies: SOL, DOT, ADA — Asian Wrap 08 April

Conclusion

  • Solana's price could keep going down to $100.00.
  • Polkadot's price doesn't please traders as the bears take over. The next target is $18.50.
  • Cardano's price is set to rise when bonds are added to the Ethereum-blockchain. killer's

A rise in the utility and adoption of Cardano could make it a big hit.

A new feature has been added to a Cardano-based decentralized finance platform: NFT and regular bonds can now be traded on the platform. Using NFT and regular bonds gives investors on the network a lot of options.

It's the goal of NFT bonds on Cardano to make a platform like AAVE on the Ethereum-blockchain, killer's with new features that will help the altcoin be adopted by more people. There could be a big rise in on-chain activity on the Cardano network if bonds are added to the ADA network.

There are two types of assets in NFT bonds: a digital asset or collectible and a promise to return the collateral at the end of the bond term. The users of the Cardano network will now be able to borrow, lend, send, and trade loans.

The Cardano ecosystem now lets people borrow money from each other, which will make it more appealing to new investors.

New records have been set for the number of people who own Cardano and the number of people who invest in the altcoin network.

Analysts have looked at the price of Cardano and say that the altcoin is going to break out. There's a crypto analyst named @TrendRidersTR who thinks that the price of Cardano will rise to $1.3. The analyst has said that Cardano's rise to the target level will lead to profit-taking.

Analysts at FXStreet think the price of Cardano will go up to $1.6, even though there has been a slowdown in the momentum of the Ethereum-killer. Analysts think that the more the price hits $1.21, the more likely it is that Cardano will rise in price.

Solana's price is in danger.

This shows that the Solana price is going down because the digital asset has lost 17% in the last two days. That's what was said in last week's thesis. The 40 percent target from the early March trade setup was likely to have been reached by now. Traders were told not to try to reach $150 anymore and instead make money in the $135 range. Shortly after I wrote the article, the price of Solana broke through a previous resistance zone and made a huge bearish engulfing candle.

Solana's price is now at $116. Traders should expect choppy price action before the downslide gets worse. The Relative Strength Index doubled up right where the sellers were, and the volume shows that the bears are in charge. There is no need to look for scalps that go against the trend right now. Some traders might look to short the digital asset around $125. This would send the value of the digital asset back down to $100.

solana
SOL/USDT ; Tradingview

There will be a close above $137. If this happened, the $150 target would be back on the table, which would lead to a 27% rise in the SOL price.

Polkadot's price will go down, but it's a good thing to keep an eye out for.

Polkadot's price has disappointed analysts because the current bearish engulfing candle has wiped out any chance of a Wave 4 count. The first wave has broken through at $19.96, which means that the five-wave impulse is done. It's possible to make a big change to the waves. This week, the price of DOT could reach $18.50.

There is a good chance that the Polkadot price rally is over, and the Relative Strength Index is giving even more evidence. Seeing a double top with a bearish divergence in the 60 level was a huge sell signal. Prices for Polkadot can go back and check out the $18 area again, which is where they are now. Traders should let the sell-off happen, but keep an eye out for possible buy opportunities in the area.

polkadot
DOT/USDT; Tradingview

If the bulls can close a candle into the $21.50 low, crypto analysts will think the downtrend theory is wrong and start looking for buy opportunities. If the Elliot Wave count is correct, the Polkadot price could rise to $26 and $27, which would be a 30% increase from the current price.

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