Cardano (ADA) has experienced a tough 2023, posting a limited +50% recovery, with Hoskinson’s pet project struggling to keep pace with rivals such as Solana (up +110% this year) – many are wondering if it’s too late for this once high-flying network.
The 7th biggest cryptocurrency is currently trading at $0.39 (a 24 hour change of -0.18%) as consolidation seems set to form a bullish double-bottomed pattern on the daily chart.
This comes following a -15% retracement from local top at $0.46 on April 15.
While Cardano has seen an impressive 2023, posting a +64% gain YTD, recent price action has suffered as the MA 20 has formed an area of local topside resistance.
What’s worse? ADA’s RSI has struggled to cool off despite the prolonged consolidation period, indicating price action might need to push lower to find an oversold signal.
The MACD provides a degree of confirmation to this idea, signalling minor bearish divergence at -0.0026.
With price action attempting a retest of the MA 20 on the STF, Cardano is facing a make-or-break moment pushing up to $0.425 (+7.76%) would see ADA regain bullish technical structure.
However, rejection here could send ADA tumbling to a lower level of support around $0.35 (-11.3%).
This leaves Cardano (ADA) with a difficult outlook, as the Risk: Reward ratio sits unfavourably low at 0.69.
As Cardano struggles to maintain momentum, the green cryptocurrency Ecoterra (ECOTERRA) is catching the attention of investors seeking eco-friendly, high-potential projects.
Ecoterra: The Future of Sustainable Crypto Investment
Ecoterra is a blockchain-based green ecosystem that rewards environmentally responsible behavior, providing an appealing alternative to Cardano.
The project aims to revolutionize the way we approach sustainability by offering a Recycle to Earn (R2E) platform, a carbon offset marketplace, a marketplace for recycled materials, and an impact profile.
With Reverse Vending Machines (RVMs) supporting the R2E app in various countries, Ecoterra has immense market potential.
Currently, in the fourth stage of its ECOTERRA token presale, the tokens are priced at a mere $0.007.
The project has already raised an impressive $2.95 million, and with the presale price set to increase soon, now is the time to invest.
A Revolution in Sustainable Crypto: Ecoterra’s R2E System
Ecoterra’s unique Recycle-to-Earn system puts the project at the forefront of the global environmental sustainability movement.
By rewarding users for recycling actions, Ecoterra incentivizes eco-friendly habits that contribute to a sustainable ecosystem.
The four main components of the Ecoterra ecosystem include:
1. Recycle-to-Earn Application: Users can scan recyclable items such as bottles, aluminum cans, and plastics to earn ECOTERRA tokens. The app allows users to hold, stake, and spend earned tokens on eco-friendly activities like ocean cleanups, tree planting, green energy projects, or educational programs.
2. Carbon Offset Marketplace: Both individuals and companies can offset their carbon footprint by contributing to various projects using ECOTERRA tokens. Ecoterra will add each carbon offset to the participant’s impact profile, with milestones like planting 500 trees convertible into NFTs.
3. Marketplace for Recycled Materials: Ecoterra’s marketplace streamlines the connection between companies and recyclers, allowing businesses to access and purchase recycled materials using ECOTERRA tokens.
4. Impact Trackable Profile: Companies can showcase their eco-friendly actions and gain exposure through their impact profile. Ecoterra rates profiles based on ecological behavior, and companies can purchase impact packages to counteract the negative effects of their production.
Presale Opportunity: Join Ecoterra’s Green Revolution
As the world adopts green initiatives with increasing urgency, the carbon credit market is poised for significant growth.
Ecoterra’s ongoing presale offers a unique opportunity to invest in this innovative, sustainable project.
With the ECOTERRA token currently priced at $0.007 and set to increase in less than 4 days, now is the time to act.
Embrace the future of sustainable crypto investment with Ecoterra, and secure your position in the rapidly growing carbon credit market.
Buy ECOTERRA Here
Disclaimer: Cryptocurrency projects endorsed in this article are not the financial advice of the publishing author or publication – cryptocurrencies are highly volatile investments with considerable risk, always do your own research.
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