Experts claim that DeFi is the way of the future. Since the much-anticipated Bitcoin (BTC) halving is quickly approaching, investing in decentralized initiatives today could result in a substantial return on your capital. Therefore, even in the early phases of Kelexo’s (KLXO) presale, experienced traders, especially traders from the BNB and Polkadot (DOT) communities, have been keeping an eye on the company’s gains.
BNB recent struggles
The price of BNB tokens dropped after Binance, the biggest cryptocurrency exchange, lost 7% of its market capitalization in a single day. The altcoin broke below a crucial support trendline and lost territory above the psychological threshold of $600.
The characteristics of the BNB price chart change to a negative side and signal a correction with this breakdown. The underlying demand and the short-term reversal, however, contest the evolving dynamics and strive for a recovery.
The price of the BNB token is recovering even if the purchasers were unable to push the rising trendline to completion. With a double-bottom reversal, the underlying demand drives the recovery rally. Additionally, the rebounding market gives the cryptocurrency recovery more impetus.
Will Polkadot (DOT) hold on?
The majority of the preceding week saw Polkadot in the red as a pessimistic mood became more entrenched. By Saturday, its value had fallen as low as $5.74, but it bounced back to close at $6.38. In the session on Saturday, Polkadot (DOT) also dropped below the 200-day SMA. On the other hand, Sunday got off to a much better start, with Polkadot gaining by 7.54%.
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However, Polkadot was unable to go over $6.86, at least on Sunday, as the 200-day SMA is currently functioning as resistance. Polkadot is currently up 3.53% and is still in the green for the duration of the current session. More significantly, it is now at $7.10, having crossed over both the $7 and 200-day SMA.
Can Polkadot maintain this upward trend, and will the next week bring with it a persistently positive outlook? We can get an idea by taking a look at a few indications. The Parabolic Sar is currently bearish, pointing to a downward trend. But now that Polkadot (DOT) has crossed over the 200-day SMA, the price may find support near $7, creating a foundation from which it may rise to $7.50. In the event that this occurs, the 20-day SMA may serve as resistance for DOT at $8 and $8.45.
Kelexo’s (KLXO) groundbreaking lending methods
DeFi initiatives like Kelexo (KLXO) have attracted considerable interest from the Polkadot and BNB communities. As one of the first truly decentralized initiatives, it is at the vanguard of the movement. Compared to traditional lending platforms, Kelexo offers much lower fees and quicker funding terms. Users of the platform can also start lending money immediately without completing any KYC checks.
Every transaction will be visible to users, ensuring the product’s security and transparency. In addition, the audit was completed, guaranteeing user security. While the liquidity will remain locked indefinitely, the team tokens will be frozen for 500 days. Experts believe Kelexo (KLXO), which is currently trading at a reasonable $0.048, is an excellent deal. This project has the potential to be the next blue-chip crypto, especially since it’s still in the early stages of its presale.
Find out more about Kelexo (KLXO) using their website!
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Disclaimer: This article is sponsored content and is not financial advice. CryptoNewsZ does not endorse or guarantee the accuracy of the content. Readers should verify information independently and exercise caution when dealing with any mentioned company. Investing in cryptocurrencies is risky, and seeking advice from a qualified professional is recommended.
