DOGE Hits 2-Month High, ADA Rallies by 10% – Market Updates Bitcoin News

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).

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.

DOGE/USD – Daily Chart

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.

Cardano (ADA)

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.

ADA/USD – Daily Chart

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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Eliman Dambell

Eliman is a market analyst with a diverse perspective. He has previously been a broker director and taught retail trading. He currently acts as an analyst for various asset types, such as Crypto, Stocks, FX.

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