Cardano Price Shows Further Weakness as Traders Hunt for the Next 100x Gem - Remittix Leads the List
Cardano price is battling fresh bearish pressure as long-term holders begin to record losses for the first time in three months.
Cardano price is battling fresh bearish pressure as long-term holders begin to record losses for the first time in three months. As ADA news shows weakening market movements, traders have seen earlier gains get erased, confirming that investor confidence may be depleting. This plunge could hinder chances of a Cardano price recovery if selling pressure resumes.
Hence, investors seeking the next 100x gem have turned to PayFi, the newest entrant and Remittix (RTX), which is posting impressive market figures with the potential to do even more.
Cardano Price Continues to Lose Strength
The MVRV Long/Short Difference indicates that Cardano’s long-term holders are losing their positions of profit. The metric, which compares the average profit of LTHs and short-term holders (STHs), indicates a steep dip following the recent Cardano price pullback. Hence, several long-term investors are now holding below their cost basis, reducing their rewards to stay in the market.
Such market conditions create an opportunity for short-term traders to buy at lower prices. Regardless, their tendency to take profits quickly could limit Cardano's price potential for sustained recovery. If these STHs sell at the first sign of an uptrend, they could reinforce selling pressure, capping Cardano's ability to regain lost ground.
Source: Santiment
Moreover, the Cardano price's macro momentum also appears bearish, as indicated by the Relative Strength Index (RSI). The RSI currently sits below the neutral 50.0 level, indicating that bearish sentiment continues to outweigh market performance.
This suggests that ADA is struggling to generate sufficient buying pressure to counter recent declines. With no fresh investor interest or improvement in trading volume, the Cardano price is likely to remain limited.
Source: TradingView
Why Investors Prefer the Fast-Rising PayFi Altcoin Called Remittix
While Cardano price struggles, analysts are now backing innovative payment projects like Remittix. With its token currently selling for $0.1166 apiece, Remittix has recorded funding growth exceeding $27.7 million, supported by institutional investment and has sold more than 681.4 million RTX tokens to early buyers.
Remittix has also undergone an audit and is verified by CertiK, ranking 1st on the global ranking for Pre-Launch Tokens on its Skynet. The confirmation of top-tier exchange listings on BitMart and LBank, combined with the news that the Remittix wallet beta is now live for community testing, has driven momentum wild and early buyers are already recording profits.
Remittix simplifies cross-border payments with transparent and affordable fees, as well as products like the Remittix wallet, to ease the process. Clearly, the momentum is backed by a real solution.
Discover the future of PayFi with Remittix by checking out their project here:
Website: https://remittix.io/
Socials: https://linktr.ee/remittix
$250,000 Giveaway: https://gleam.io/competitions/nz84L-250000-remittix-giveaway
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