Cardano and Dogecoin are two assets that have performed well for a while. It seems to have confirmed a new uptrend that we mentioned earlier for Cardano with its rise to $ 0.72.
Things aren’t very good for Dogecoin. The downward trend may turn into a trend.
Cardano (ADA) continues to grow. For Cardano, things show that it confirms a new trend trend, as we said in our recent report. The asset, which started at just $ 0.170 at the beginning of this year, has been dormant for a long time. When we look at the latest reviews, the asset managed to reach levels of $ 0.72 during the day.
It can be said that things are getting better for Cardano. It seems that asset investors who find a good place for themselves in the Altkoin bull have managed to direct them to him. According to ITB (IntoTheBlock) data, ADA investors have seen increases of up to 35% this year alone.
Finally, the rising asset stands out as 5th in the market value with $ 21.6 billion. He might say they got into a bitter row fight with the predecessor Polkadot (DOT). He may dethrone Polkadot in the coming days.
Withdrawal For ADA May Continue
Cardano (ADA) experienced a retracement as expected after its high of $ 0.72 on the day. Although it finds a value that is just below its peak level for the moment, it is quite possible that it will continue the correction.
But the prospect of a further bullish run is challenged by the bulls. As of evening hours, RSI data seems to have climbed rapidly towards the overbought point. However, the MACD data started to move from the negative region to the positive region. For the time being, the RSI has begun to fall from the overbought point and the MACD continues to rise in the positive direction, leaving the negative territory. At the Chaikin point, it also shows a decrease in evening hours.
The short-term earnings desire of the new investors, which Cardano gained with this increase, is a kind of reason for the decline for speculative investments. This new investor mass disrupts the price balance after earnings, making it difficult for the bulls.
As such, bull activity is important so that the retreat does not continue. Looking at the support nectar for Cardano, it is necessary to pay attention to $ 0.551 and $ 0.512. If the asset cannot prevent withdrawal and falls below these values, it can drag itself towards a new disaster, namely a downward trend.
Dogecoin has witnessed instant price pumping over the past few weeks, mainly due to the shares it made with celebrities such as Elon Musk and Snoop Dogg. Of course, this growth, which can be considered artificial, has a decline. The asset, approaching as low as $ 0.09, performed a new bullish test after the decline during the day. Testing of the $ 0.083 DOGE resistance point led to a decline with a rejection from the resistance. The last 24 data show a 10% loss for DOGE.
With this increase in popularity, Dogecoin has managed to achieve a lot. Due to this popularity, it attracted a wide investor base and in terms of market value, it even replaced the long-established asset Bitcoin Cash, ranking 10th.
The charts show that the RSI is approaching the extreme selling point. MACD data is also in the negative zone. Hourly reviews for CMF are on the horizontal axis at the moment but not in the active area as much as in the rising. It seems that Dogecoin will lose its rise with its social media influence for a while. The downward trend can manifest itself over and over again. For this, one should pay attention to the support points.
If the buying spree continues in the coming days, all bearish predictions may be rejected. The asset that falls below the 0.062 point can pull itself towards 0.053 and even deeper in the future.