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Cardano Price Prediction for June is $0.05, While Deelance Hits $1m

--News Direct--

Cardano, a smart contract blockchain that offers faster and cheaper transactions than Ethereum, was hit hard by the crypto winter. The project’s token, $ADA, fell nearly 90% from around $3 to today’s price of $0.038.

However, traders see new potential in today’s Cardano price. The token has the potential to make a move towards $0.05 this June, which could be the beginning of a sustained bull trend for $ADA.

Meanwhile, new utility tokens are soaring. Deelance, a Web3 marketplace for freelancers, raised more than $1 million in the ongoing crypto presale of its native $DLANCE token.

$ADA Makes Bullish Move, $0.05 Price Target Predicted

Until recently, Cardano had been sliding steadily since hitting an all-time high in 2021. The token fell as low as $0.024 in late December after the blockchain’s Nomad bridge was hacked. However, Cardano itself was not affected by the hack.

In the past few days, however, $ADA has turned things around. The token is up 7% this week and trading volume jumped above $200 million, according to CoinMarketCap. $ADA has also been setting consecutively higher lows since the start of the year, forming a long-term bullish ascending wedge pattern.

That could be the beginning of a more sustained bullish move. Analysts have argued for months that Cardano is undervalued compared to competing blockchains like Ethereum and Solana.

From a technical perspective, the nearest resistance area for $ADA is in the range of $0.047-$0.052. This suggests that if the token is able to make a move higher, it’s likely to jump to around $0.05 before the momentum encounters any friction.

Such a move could happen quickly. A price target of $0.05 represents a 31% gain from today’s price, which a volatile cryptocurrency like $ADA could cover in a matter of days.

If $ADA is able to break through the resistance at $0.052, it could make a very significant move higher. The token’s next resistance level is at $0.095, a 150% gain from today’s price.

Traders should bear in mind that the recent price action could represent a bounce rather than a sustained bull move. If $ADA stumbles, the token could retest its recent support at $0.035. However, short of a bearish catalyst such as another hack, it seems unlikely that Cardano could return to its December lows.

Deelance Raises $1 Million to Revolutionize Freelance Work

While $PEPE is struggling, utility coins are finding an impressive degree of traction. One of the newest utility projects to launch, Deelance, just raised $1.1 million through its presale and is roaring towards an ICO.

Deelance is building a Web3 marketplace to connect freelancers and businesses. The project is going head-to-head with centralized marketplaces like Upwork and Freelancer and has the potential to corner the $5.2 billion freelance platforms industry. One crypto analyst has described Deelance as having “massive potential.

Deelance offers several important advantages over existing marketplaces. First, its decentralized structure enables Deelance to offer some of the lowest fees of any freelance platform. Businesses will pay just 2% per contract, while freelancers will pay 10%. Those rates match or beat the fees of any of Deelance’s competitors.

On top of that, Deelance is using smart contracts to build a more efficient escrow and dispute resolution system. This saves time and money and makes the experience better for freelancers and businesses.

One of the greatest innovations of Deelance is to tokenize intellectual property and deliverables as NFTs. This ensures that businesses can take complete ownership over the work they pay for—something that isn’t always possible on existing freelance marketplaces.

Deelance is looking to further revolutionize the way freelancers work with its work-centric metaverse. This virtual world will provide a place for freelancers and businesses to work together. They can advertise, rent office space, host meetings, and more.

Freelancers and businesses that want to make purchases in the Deelance metaverse will need the project’s $DLANCE token, which is available now through the Deelance presale.

For a limited time, investors can buy $DLANCE at a price of $0.033. That’s 42% below the planned list price of $0.057, giving early investors a chance to earn generous returns.

However, interested investors have to act fast. The next price increase is only a few hours away.

Visit Deelance Presale

DISCLAIMER: This is not to be taken as investment advice. Crypto is a volatile asset, do your own research before investing and only invest money you can afford to lose. We may receive commission for clicking links in this article.

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Finance News

Alex Brown

alex@financenews.com

View source version on newsdirect.com: https://newsdirect.com/news/cardano-price-prediction-for-june-is-0-05-while-deelance-hits-1m-154813118

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