Has the Market Sentiments Shifted From Memecoin to Fundamentals? Focus is Back on AAVE & Cardano Price Rally
Fast profits and easy profits have attracted many people into the Memecoin space. Continuously launching new tokens and facing a lot of carpets in a moment. The latest examples of cars or Libras give traders confidence in these types of members as they keep squeezed out liquidity from top liquidity like Dogecoin, Shiba Inu or Pepe.
Meanwhile, a clear shift in perspective was seen among market participants as they once again focused on fundamentals. Presumed dead tokens such as Cardano & Aave have been attracting widespread attention. This is the future expectation of these tokens.
Cardano (ADA) price analysis
After a high above $1.2, Cardano Price It has been in a bearish, downward parallel channel. The token has rebounded from the channel’s lower support and is moving towards the average frequency band. Rising above this range is expected to push the price towards resistance, which is above the psychological barrier at a price of $1. At the same time, surpassing the channel can only trigger a new high in the bull market.
There are two main reasons for being bullish on Cardano: RSI and bullish Ichimoku cloud. The conversion line and baseline are about to go bullish crossover, while the RSI is still increasing. This suggests that the Bulls are withdrawing control of the rally, which could raise the price above $0.86, which could raise the level above $0.9. Previously, ADA prices failed to maintain beyond this range, so if the Bulls manage to hold a rally, it will soon rise above $1.
AAVE (AAVE) price analysis
AAVE price has undergone parabolic recovery after reaching the bottom of the ATH at above $660. Earlier, prices tried to rise above $400, but the rise in bearish activity lowered the levels. However, the price launched a strong rebound, which suggests a critical resistance zone between $400 and $430 is about to reach.
AAVE’s weekly chart shows the first bullish crossover between the 50-day and 200-day MA levels per week. The price of the parabolic curve has rebounded, which may push the price towards the resistance area. Meanwhile, RSI, which has fallen below support, is stepping up efforts and once it is above that range, AAVE prices may start a new rise and mark the new high above $700.
