ADA and DOGE Must Defend These Critical Levels to Resume Bull Rallies: Analyst


Both assets are slightly up in the past 24 hours.

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The October 10 market-wide crash brought some extremely painful declines for most cryptocurrencies, including some of the larger-cap alts, such as ADA, which dumped by close to 70% at one point.

However, the broader market has staged an impressive recovery since those multi-year lows (for some). On a weekly scale, both ADA and DOGE have gained around 6% but are still close to some danger zones depicted by the popular analyst Ali Martinez.

In the case of Cardano’s native token, he said it needs to defend the $0.63 support. Currently, ADA trades at $0.66, which is just inches above that line. If it remains above it, though, Martinez outlined a potential bullish breakout with a next target of $0.85.

Moreover, the analyst with over 160,000 followers on X outlined an even more impressive and perhaps slightly far-fetched goal of $1.70 if the breakout reaches its ultimate level.

The largest meme coin’s case appears rather identical. The critical level it needs to maintain is the support at $0.18. As of press time, DOGE trades well above it (close to $0.20) following a 1.6% daily increase.

If it bounces off that level, Martinez said its path to $0.25 and $0.33 opens up. Recall that the meme coin briefly tapped $0.30 in mid-September but it hasn’t traded as high as $0.33 since the start of the year.

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Source: https://cryptopotato.com/ada-and-doge-must-defend-these-critical-levels-to-resume-bull-rallies-analyst/