The crypto market began the month in strong fashion, with many cryptos reclaiming 10-month highs. However, the bullish momentum is waning, with Polkadot (DOT) and Metacade (MCADE) showing bearish signs as a result.
Although most cryptocurrencies, like Polkadot (DOT) and Metacade (MCADE), are suffering from bearish sentiments, market analysts believe that the revolutionary investment platform, Sparklo would continue to rise.
Polkadot (DOT) May Continue Bearish Slide
Polkadot (DOT), the decentralized Web3 interoperability platform that enables cross-blockchain transfers, has suffered a bearish slide, which has seen the price of the crypto drop to $6.72.
With the next major support for Polkadot (DOT) present at $6.65, there is a bearish sentiment, especially with charts showing that the digital asset has been caught in a descending channel.
The bears have caused the price of Polkadot (DOT) to fall as low as $6.72, and if the momentum continues, Polkadot (DOT) may fall as low as $6.45. However, if the $6.65 support for Polkadot (DOT) holds, the bulls could take control of the market, and Polkadot (DOT) could rally to $6.87.
Metacade (MCADE) Could Face the Same Fate
Another Web3 project, Metacade (MCADE) where gamers and blockchain fanatics can communicate and collaborate is experiencing the same bearish sentiments as Polkadot (DOT).
Despite just listing on the crypto exchange BitMart, Metacade is currently down by 3.1% in the last 24 hours. Metacade (MCADE), the hub for gamers, developers, and entrepreneurs isn’t predicted to fare better if the current trend persists.
While the broader crypto market has remained bullish in the last month, Metacade (MCADE) has experienced minimal price gains, as interest in the project dwindles. If there is no spark for Metacade (MCADE) the digital asset could fall to bearish strength.
Analysts Predict that Sparklo Will Rise
Although some of the broader crypto markets are suffering from bearish sentiments, analysts predict that Sparklo which has been gaining attention as an alternative investment platform could outperform the market.
The basis for the bullish Sparklo prediction is its unique, problem-solving platform will allow users to be able to purchase rare and precious metals, such as silver, gold, and platinum in form of fractional NFTs, meaning you can own gold without needing to buy an entire bar.
As per the Sparklo whitepaper, all the NFTs minted on the platform will be backed by physical assets. to back its reserves, Sparklo has already been audited by the InterFi Network, further raising trust in the project.
In addition, the current liquidity and reserves of Sparklo will be locked in for 100 years. Sparklo is currently in presale at a price of $0.013. These are the reasons why analysts predict that when Sparklo launches, it could outperform the entire crypto market.
Website: https://sparklo.finance
Presale: https://invest.sparklo.finance
Twitter: https://twitter.com/sparklo_finance
Telegram: https://t.me/sparklofinance
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