Cardano targets $1.32, BONK struggles to maintain, Cold Wallet Presale raises $6.4 million
The current cryptocurrency market landscape is a mix of various projects, ranging from well-established ones such as Cardano and BONK to newer ventures like Cold Wallet in its presale phase. While Cardano is encountering resistance levels and BONK is maintaining a crucial support level, Cold Wallet, a new contender, is starting to attract attention with its CoinMarketCap listing despite still being in presale.
Cold Wallet, a project featuring the CWT token, has already made it onto CoinMarketCap, a move usually reserved for projects post-launch. This early listing has allowed the project to gain increased visibility and community awareness, a feat not often seen in the industry.
Currently, during its presale, the CWT token is priced at $0.00998 in Stage 17, having raised an impressive sum of over $6.4 million. The confirmed launch price is set to be $0.3517. Developers of the project are emphasizing its utility-driven model, with unique features like cashback on gas fees, adding value to potential users.
Moving forward, Cardano is approaching a pivotal resistance level around $1.0136, situated at the 0.618 Fibonacci level. Breaking past this barrier could propel ADA towards $1.1510 and potentially $1.3259 if the market momentum remains strong. However, the sustainability of any upward movement hinges on ADA’s ability to remain above $0.98, which currently serves as a launching point. A slip below $0.95 could prompt retracements around $0.94, impacting bullish sentiment.
While trading volume for Cardano remains robust and short-term indicators lean towards a positive outlook, the conviction in an upward rally will only solidify with a confirmed breach above the resistance levels. Patience is key, as Cardano’s future trajectory is contingent on maintaining critical support and resistance points.
On the other hand, BONK is currently defending a significant price level near $0.00002500, closely aligned with the 50-day EMA. A successful defense of this support zone could trigger a move towards the July peak at $0.00004074. With indications of a cup-and-handle pattern forming, confirmation is still pending before a clear bullish signal can be established.
Despite mixed momentum signals, BONK’s position above key EMAs adds strength to its structure, making it a cryptocurrency worth monitoring. The scenario hinges on bouncing off current support to reaffirm the bullish outlook, while a breakdown risks altering the setup. Timely execution will determine whether BONK realizes its potential or misses out on a favorable opportunity.
In conclusion, while Cardano and BONK’s price movements are contingent on overcoming technical hurdles, Cold Wallet is taking a different route to establishing credibility. Securing a CoinMarketCap listing during its presale phase has granted it early visibility alongside a compelling utility-driven model. With distinct pricing between its presale and listing prices, Cold Wallet aims to position itself as a viable investment option, offering tangible value to its users through features like cashback.
