Dogecoin rose by over 10% in today’s session, as the meme coin closed in on its highest point in almost one month. For the eighth straight session, cardano was in the green and rose for a ninth day.
Dogecoin, (DOGE).
Dogecoin (DOGE) was a notable mover on Wednesday, as the meme coin rallied by over 10% in today’s session.
The meme coin was one of today’s big gainers, as prices rose to an intraday peak of $0.07657.
DOGE/USD surged to its highest level since June 27th, and was close to a long-term resistance.
The chart shows that this ceiling is at $0.07900, and has been in effect for six weeks.
Bulls may be determined to conquer this obstacle, but price strength appears to have run into an unexpected problem.
This lay in the form of the 61.50 level on the 14-day Relative Strength Index (RSI), which hasn’t been broken since late April.
Cardano (ADA)
Cardano (ADA), which saw prices rise for the ninth day in a row, extended its streak on Wednesday
Following a low of $0.4812 during yesterday’s session, ADA/USD raced to a high of $0.546 earlier in the day.
It was the first time that the token had risen to its highest price since June 11, 2011, when they were trading down at $0.6500.
This surge has seen the world’s seventh-largest cryptocurrency blow past a previous ceiling at $0.5000, and it now looks set to hit another.
If the surge continues, the new ceiling will reach $0.5720, an area in which historical bearish pressure appears to be present.
To be able to progress towards this mark, ADA first needs to observe price strength above 61 on RSI.
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If the ceiling is broken, will bears reenter Cardano? Please share your views with us in the comments.
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