Of late, momentum has been lost for Cardano (ADA), with prices falling and investor sentiment on the decline. Many who once backed ADA are now moving their capital elsewhere looking for better innovations. In the absence of ADA’s momentum, Solana (SOL) whose transactions are lightning-fast coupled with easy-to-use developer tools for building applications, has become in high demand.
At the same time, IntelMarkets (INTL) is growing rapidly as a new alternative for investors. New and yet full of promise, INTL is positive for investors whose appetite is not for the usual few cryptocurrencies. Read on to find out why investing in IntelMarkets may be the next smart move that investors make.
Why Investors Are Moving Away from ADA?
In the recent past, Cardano price have declined considerably making investors rethink their positions. Cardano’s price is now down by 11.37% and is currently selling for around $0.3382. Even with ADA boasting a significant $11.83 billion market cap and almost 9% of its supply held in the hands of whales, Cardano price has lost its steam of momentum and some investors have resorted to seeking other options outside of ADA.
With recent innovations and updates, like the Vasil Hard Fork and Hydra Layer-2, ADA sought to address issues of scaling and improving transaction throughput. Despite this, the Cardano price is still bogged down with issues of congestion on the network.
On the other hand, analysts following Cardano price note an upward-sloping wedge pattern, however, the price action of ADA shows mixed signals with resistance clearly observed at $0.51 and support around $0.349.
A bit of an encouraging outlook is demonstrated by the technical indicators although Cardano price is yet to overcome any of the prominent resistance lines. Its RSI while MACD showed a minor bullish inclination that the price trend may change to an upward movement sooner.
Nevertheless, ADA is having difficulties holding above very important moving averages, especially the 50-day SMA which is located at approximately $0.403 and this has been a factor preventing the Cardano price from gainful activities.
Also, according to some analysts who rely on the Elliott Wave Theory, ADA could be in Wave 3, which is usually a bullish wave, however, the Cardano price does not seem to have surpassed the critical resistance levels that most investors are waiting for.
Solana’s (SOL) Popularity is Rising Among Crypto Investors
Solana (SOL) has been quickly establishing itself, giving Ethereum a run for its money. Its price has soared by 450% in 2023 to an approximate figure of $171.59. This SOL growth is due to the expanding DeFi and NFT interactions within Solana which increased its TVL from $250 million to $6.8 billion within the year.
At the same time, Solana’s innovations are taking this momentum further. The ‘Firedancer’ upgrade plan, which is set for 2025, is expected to offer speeds of 1 million transactions a second, which would undoubtedly appease institutional players. Analysts argue that Firedancer will enhance the network stability and thus Solana (SOL) will be able to increase its competition with Ethereum.
From a technical perspective, the recent breakout of Solana against $163.54 serves as an indicator of strong buying interest with a decent base placed at $129.78. Short-term EMAs for Solana are positively placed suggesting further increase is expected with price targets set at $188.89 and possibly the all-time high of $205.20.
Investors are focused on the unfolding events. In light of SOL’s superiority in DeFi, NFTs, and gaming, Solana’s sphere of influence continues to widen unabated.
IntelMarkets Gains Attention as AI Powerhouse
IntelMarkets is turning heads as a new kind of trading platform combining powerful AI and blockchain tools to help crypto traders make better moves. Built for beginners and pros, IntelMarkets offers top-level analytics and insights that make trading feel more accessible.
With its AI engine, Rodeum, and the soon-to-launch Zirkon blockchain, IntelMarkets creates a smart, data-driven trading space designed for today’s market. Plus, its Intell-M channel analysis brings together market trends and technical data to give users a sharper view of potential trades. IntelMarkets’ ZeroX operating system pulls in real-time data on market positions, open interest, and liquidation levels, all in one place.
Plus, with mobile and web access, traders can tap into IntelMarkets’ ecosystem anytime, anywhere. Financially, IntelMarkets has already raised over $1.5 million in its presale with tokens priced at $0.04.
Early $INTL token holders also enjoy perks like lower trading fees, exclusive AI tool access, and a voice in community decisions. With its upcoming quantum-resistant Route X21 protocol and ongoing development, IntelMarkets is building a name as a promising new choice in crypto trading.
Discover More About IntelMarkets:
Presale: https://intelmarketspresale.com/
Buy Presale: https://buy.intelmarketspresale.com/
Telegram: https://t.me/IntelMarketsOfficial
Twitter: https://x.com/intel_markets