Cardano, SafeMoon & Bitcoin – American Wrap 14 October

Top 3 Price Prediction Bitcoin Ethereum Ripple: Crypto market bound for a brief correction

Bitcoin price fills the extended gap between its close and the Tenkan-Sen, but the slope of the rise may indicate a deeper move south is likely. Ethereum price moved below its Tenkan-Sen and is near the weakest part of the Cloud – the Kumo Twist. Finally, Ripple price is the only cryptocurrency out of the three reviewed in this article that may show some contrarian price action and may move higher rather than lower.

Whale buys $225,000 worth of SafeMoon as analyst turn bullish

A new Safemoon wallet update was pushed out last week; the development team has upgraded the wallet with new features. Safemoon wallet’s beta testers consider it easy to use for beginners; recently, the BNB direct buy feature was added. Within 24 hours of its launch, the Safemoon wallet ranked in the top 25 applications on the AppStore. The dominance of large wallet investors is less than 15%, which implies Safemoon is accessible to retail traders, unlike DOGE or SHIB. 

Cardano sits on strong fundamentals that are not priced in yet

Cardano price has been on an exponential run in 2021, which seems to have exhausted its momentum. After the second swing high on August 30, ADA is now undergoing a full-blown retracement. While this correction started roughly a month ago, more seems to be on its way for the so-called “Ethereum-killer.”


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