A day after hitting a one-week high, dogecoin raced to a two-month high earlier in today’s session. Wednesday’s surge in price comes as the global cryptocurrency market was up by nearly 7% on the day. Cardano, which also saw a rise in price, climbed by almost 7% and more than 10% respectively.
Dogecoin, (DOGE), rose higher for its second consecutive session. On Wednesday, the token reached a multi-month peak.
During today’s session, DOGE/USD surged to an intraday peak of $0.06868, which comes a day after it was trading at a low of $0.06062.
Wednesday’s top saw the meme coin hit its highest point since August 25, when the token reached a top of $0.0718.
Looking at the chart, today’s move comes as DOGE rose above a key resistance point of $0.0670.
As a result of today’s peak, the 14-day relative strength index (RSI) also hit its strongest mark since mid-August.
A crossover upward between the 10-day and 25-day moving averages is also possible, which could result in dogecoin rising above $0.0700.
Another notable mover in today’s session was cardano (ADA), which rallied by over 10% on hump-day.
Following a low of $0.3704 on Tuesday, ADA/USD moved to a high of $0.4142 earlier in today’s session.
This move brought cardano to its highest level in 2 weeks. Bulls seemed intent on a resistance area.
The chart shows that the ceiling is the $0.4325 mark, last reached on October 10.
Bulls who are trying to reach this mark could face resistance as the RSI approaches a roof.
The index currently tracks at 55.18. That is just marginally lower than the resistance point of 59.00.
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