In about a year, Polkadot (DOT) has witnessed a significant decline in value, going from over $28 to $5. On the other side, Cardano (ADA), which was trading at $1.378, dropped to $0.3144 in the same time span. However, analysts expect the price of Snowfall Protocol (SNW) token, which also provides first-time investors with a 100% bonus, to increase by 5000% soon. Investors are still optimistic about Snowfall Protocol (SNW), as the team recently announced a raise of $3 million in its second presale round.
So if you’re looking to drop DOT and ADA, look more closely at the recently released cryptocurrency, Snowfall Protocol (SNW).
Polkadot (DOT) – a dull performance
Throughout the first week of December, the Polkadot (DOT) price made repeated attempts to break through its immediate barrier but the bulls were unable to improve their strength. This implies that even at greater prices for Polkadot (DOT), the coin’s purchasing power remained low.
The 20-day EMA ($5.48) is still being vigorously defended by the bears, although Polkadot (DOT) took support at $5.24 on December 7. This suggests that the bulls are seeking to establish a higher bottom in the near term.
The $5 low of November 22 may be retested if bears manage to push the price beneath the uptrend line. To prevent Polkadot (DOT) from continuing its downward trend, the bulls must successfully defend this level. The next support, $4.32, might potentially see a decline in Polkadot (DOT).
The 20-day EMA is the first upward resistance to keep an eye on. If this level is broken by a close above it, the negative momentum may be waning. Thus, the price of Polkadot (DOT) can have a shot at $6.18.
Cardano (ADA) – no surety
One of the most esteemed third-generation cryptocurrencies is Cardano (ADA). While Cardano’s (ADA) performance on the cryptocurrency market has been outstanding, it does not have a very impressive capitalization.
Cardano (ADA) still faces criticism from investors who haven’t seen the cryptocurrency trade above $1 since April 2022, despite being among the top 10 cryptocurrencies with the greatest market capitalization in the blockchain sector.
If buyers can raise the price of Cardano (ADA) over the 20-day EMA ($0.32), a recovery could begin. The ADA/USDT pair may try to rally to the downtrend line if they accomplish it. Although it might provide some modest resistance, the 50-day SMA ($0.35) is expected to be crossed.
Bulls must rapidly clear the 20-day EMA to prevent a break below $0.29, which is a crucial support level. If bulls are unable to do so, it would indicate a restart of the downturn, and Cardano (ADA) might fall to $0.27, which indicates that investors don’t have any surety about Cardano (ADA).
Pre-sales for Snowfall protocol (SNW) were $3 million, with a 5000% growth forecast
Simply said, Snowfall Protocol (SNW) is the first smart contract protocol that provides a multi-chain, multi-token swap ecosystem for any chains that are EVM compatible. The growing diversity in the blockchain community necessitates the implementation of a project like Snowfall Protocol (SNW) that will enable value transfers between chains without compromising user custody.
The next bull run is expected to have a 5000% bullish run from its initial price, according to analysts who have already noticed the growing demand for such decentralized switching protocols. Aside from that, the presale for Snowfall Protocol (SNW) brought in $3 million.
Snowfall Protocol (SNW), in contrast to other coins like Polkadot (DOT) and Cardano (ADA), has the potential to be a worthwhile long-term investment.
Given that Snowfall Protocol (SNW) is currently worth $0.095, you must seize this incredible chance and make the most of it if you want to maximize your return on investment.
The third presale round of Snowfall Protocol (SNW) is currently ongoing and will last till 1st January 2023. So be ready to invest and get rich.
get in while you can and invest in Snowfall Protocol (SNW) today!!!
Disclaimer: This is a sponsored article. The views and opinions presented in this article do not necessarily reflect the views of CoinCodex. The content of this article should not be considered as investment advice. Always do your own research before deciding to buy, sell or transfer any crypto assets.