Key Takeaways
- DOGE price struggles to hold above $0.3 support as the price could retest the $0.15 demand zone.
- ADA’s price closes below key support of $0.9 as the price continues to face bearish sell pressure.
- Market sentiment for Cardano and Dogecoin remains bullish in the long term despite market uncertainties.
Dogecoin (DOGE) and Cardano (ADA) remain promising crypto coins with the potential to rally in the current bull market. Following favorable bullish price action in the past few months, ADA and DOGE demonstrated quite an impressive rally. Predictions for these two crypto assets suggested Dogecoin would reach $1 and Cardano would reach $3, but this hasn’t played out as expected.
The price of Bitcoin crashed from its all-time high of $109,000 to a low of $95,000, leading to a steep price decline for altcoins, including ADA and DOGE. Both prices trade at key support, preventing them from falling to lower support regions that could trigger a sell-off.
Cardano and Dogecoin’s past price histories suggest that these two crypto assets have the potential to rally beyond many people’s expectations despite the current market uncertainty affecting the price of ADA and DOGE.
Dogecoin (DOGE) Price Analysis
Source – 1D DOGE Price Chart From TradingView
The price of Dogecoin (DOGE) has been traded for over two years, accumulating below $0.055 as the price builds bullish price action during this time. The price broke out of its accumulation zone, trading above $0.15, as the price rallied to a high of $0.48, hitting a key price history in over two years since its rally to a high of $0.73 in the bull cycle of 2021.
The price of DOGE suffered a price setback around $0.48 as bears dominated the price, leading to the price of DOGE declining towards its key support of $0.3. The price of Dogecoin (DOGE) failed to project this support zone as the price currently trades around $0.26, with the price looking weak and could retest the key support zone of $0.15.
Dogecoin (DOGE) trading below its 50-day and 200-day EMAs shows its price weakness. Bears dominate the market, leaving little room for bulls to push DOGE’s price to an upside of $0.3, where the price could attempt to flip this resistance to support.
Despite the current price action of DOGE, there are strong chances for the price to resume its bullish price rally in the coming weeks or months.
Cardano (ADA) Market Analysis
Source – ADA 1D Price Chart From TradingView
Cardano’s (ADA) price continues to struggle to break below its key support zone of $0.9. It faces price rejection towards lower regions of $0.5, with the potential of price retesting its key support of $0.45, where bulls could buy into ADA to push the price to higher price targets.
While ADA and DOGE continue to struggle, the overall market sentiment for these two crypto assets remains bullish. Crypto experts and investors believe ADA and DOGE will perform well in the current bull market.
