Cryptocurrency trader Ali Martinez says the largest memecoin by market cap could rise after breaking through a key resistance level.
Martinez says his 32,300 followers on social media platform
“Dogecoin is navigating a narrow zone, surrounded by two crucial supply walls.
Support Wall: Spans between $0.072 and $0.073, with 200,000 addresses containing 28.6 billion DOGE.
Resistance Wall – Ranges between $0.074 and $0.076, where 124,000 addresses contain 26.95 billion DOGE.
Note that support exceeds resistance in strength, suggesting the possibility of a bullish breakout. If Dogecoin breaks above $0.076, eyes are on the next major hurdle at $0.084.”
Source: Ali Martínez/X
DOGE is worth $0.0745 at the time of writing this article
Returning to Cardano (ADA), Martínez says that the Tom Demark (TD) Sequential Indicator forecasts a bearish trend in the ninth largest crypto asset by market capitalization. The TD sequential indicator is used to identify possible turning points.
“The TD Sequential presents a sell signal on the daily chart of ADA, anticipating a correction that could see ADA retest the $0.30 support level.”
Source: Ali Martínez/X
ADA is trading at $0.356 at the time of writing.
Next up is the utility token of the decentralized exchange Uniswap (UNI). Martinez says that Uniswap’s bullish momentum is “heating up” due to the formation of two bullish patterns on two different time frames.
“On the daily chart, UNI observes the hypotenuse of a descending triangle, with a target of around $6. Furthermore, the four-hour chart shows UNI breaking out of a bullish flag and aligning with the $6 target.”
Source: Ali Martínez/X
Uniswap is trading at $5.15 at the time of writing.
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Disclaimer: The opinions expressed on The Daily Hodl are not investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and trading are at your own risk and any losses you may incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, nor is it an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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