Polkadot, Solana & Cardano — Asian Wrap 08 Apr

Polkadot price could experience more selloffs in the coming days. There were clear indicators for traders to take profit from last month’s successful trade setups. Polkadot price has disappointed analysts as the current bearish engulfing candle has completely invalidated any possibility for a Wave 4 count.

Solana price shows bearish strength as the digital asset has declined 17% in the last two days. It was mentioned in last week’s thesis that the 40% target forecasted from the early March trade setup was likely to have been reached. 

Cardano price is on a downtrend despite the arrival of new dApps on the blockchain network. NFT bonds are a new feature on the Cardano network, allowing traders to buy or sell using their wallet. Analysts predict a breakout in Cardano price, setting a target of $1.6 for the Ethereum-killer.