Analyst shares bullish Cardano (ADA) outlook as KangaMoon (KANG) gets investor attention.
Cardano price could rally to $1.70 amid anticipated bounce for Bitcoin (BTC).
KangaMoon (KANG) offers a potential investment opportunity with its presale currently in stage 5.
Cardano (ADA) is down 4% in the past 24 hours and more than -20% in the past month. However, an analyst has shared a bullish outlook for ADA, noting the coin’s current consolidation.
Meanwhile, investors eyeing new gains are also taking position with KangaMoon (KANG), a new project exciting the market for its unique blend of SocialFi and play-to-earn (P2E).
What’s the outlook for Cardano? Analyst shares potential buy scenario
Cardano has declined nearly 22% in the past month and is currently hovering around $0.58, about 4% down on the day. This comes as ADA struggles since mid-March when it traded above $0.8, have pushed it towards a critical support area.
Grayscale recently updated its digital large cap fund and dropped ADA. Cardano is also currently out of the top 10 cryptocurrencies by market cap after Toncoin (TON) flipped it amid a massive surge earlier this week.
Despite this, the 11th ranked cryptocurrency is up close to 50% in the past year. Crypto analyst Ali posted a bullish scenario for Cardano on X.
“Nothing has really changed for #Cardano. $ADA is exactly where it should be, consolidating in the $0.55 to $0.80 range before a breakout to $1.70!,” the analyst opined.
Ali says ADA could swing to $5 if a breakout above $1.70 follows, which suggests this might be a good time to buy the altcoin.
KangaMoon’s attracts investors in final presale stage
As investors take a look at current market scenarios, scouring the space for investment opportunities, one project that’s standing out is KangaMoon.
While the new project combines the strength of SocialFi and play-to-earn (P2E), it also takes a lead among emerging utility-focused meme tokens. KangaMoon thus brings the best of GameFi, meme coins and community-driven crypto to the market.
KangaMoon takes a fun-filled crypto environment and adds to it a huge earning incentive – creating a platform where token holders can interact, compete and earn. KANG holders can earn with the tokens right away by participating in contests and challenges. Holders don’t need to wait for launch to start earning.
It’s this outlook that has the crypto community looking to position with KANG ahead of the project’s launch and listing on exchanges.
KangaMoon is now in its final presale stage.
Stage 5 is LIVE and we’re cruising to launch! 🔥
This is the FINAL stage before we blast off. Grab your $KANG at just $0.0196 and be part of the countdown.🌟
The launch sequence has begun – don’t miss out!🎉
➡️https://t.co/RcKTP0tbQy pic.twitter.com/1QDLWrBCD6
— Kangamoon (@Kangamoon_P2E) April 9, 2024
Is KangaMoon a good investment opportunity today?
The native token KANG is an Ethereum ERC-20-based token with a total supply of 1 billion. The whitepaper outlines that 60% of the supply is available to early birds during the presale.
One notable fact about Kangamoon’s tokenomics is that there’s no buy or sell tax on KANG tokens, which means no extra fees.
Coupled with exclusive bonuses for early buyers, KangaMoon’s remarkable presale performance has already seen it surpass the $4.5 million mark. The excitement around it could see the current stage 5 presale phase fly by, pushing the total amount raised past $5 million as the thriving market buoyed investors.
This outlook could get fresh impetus in coming weeks as Hong Kong gears for the launch of its first spot Bitcoin ETFs. Reports around this development on Wednesday have helped flip BTC green and could see the top crypto reclaim the $70k mark.
A rallying market combined with all the positive features of KangaMoon highlight a scenario where KANG at current presale price of $0.0196 could be a massive bargain.
Do you want to learn more about KangaMoon and its potential opportunity? Visit the project’s presale page.
The post Cardano (ADA) bullish as investors flock to KangaMoon (KANG) in final presale stage appeared first on CoinJournal.