Skip to main content

Biggest Movers: DOGE, ADA Move to Multi-Week Highs on Wednesday

Dogecoin rose by over 10% in today’s session, as the meme coin closed in on its highest point in almost one month. The token was higher for an eighth consecutive session, while cardano was also in the green, rising for a ninth straight 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.

This surge saw DOGE/USD hit its highest point since June 27, and near a long-term resistance point in the process.

As seen from the chart, this ceiling appears to be at the $0.07900 level, which has been in place for the last six weeks.

Although bulls will be looking to overcome this hurdle, price strength seems to have encountered an obstacle of its own.

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)

Wednesday saw cardano (ADA) extend its recent streak, with prices climbing for a ninth consecutive day.

Following a low of $0.4812 during yesterday’s session, ADA/USD raced to a high of $0.546 earlier in the day.

The move resulted in the token hitting its highest level since June 11, when prices were sliding down from $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.

Should the surge continue, this new ceiling will be at the $0.5720 mark, which is an area where historical bearish pressure seems to reside.

In order to move onward towards this mark, ADA will first need to see price strength climb above 61 on the RSI indicator.

Register your email here to get weekly price analysis updates sent to your inbox:

Will bears begin to reenter cardano should this ceiling fail to break? Let us know your thoughts in the comments.



from Bitcoin News https://ift.tt/052hlIx
Labels:

Comments

Post a Comment

Popular posts from this blog

Deep Web Roundup: Dream Adds Monero and Bitcoin Tumbler “Chip Mixer” Launches

The darknet has been quiet of late, which is the way it’s meant to be. No news means no mega busts, honeypots, or mass market shutdowns. Even when it’s out of the spotlight though, the deep web is quietly making news, whether trialling the latest privacy coins or the newest coin mixers that promise to restore a little of the privacy that’s being stripped away from bitcoin users on a daily basis. Also read: U.S. Agency ICE Conducts Investigations That Exploit Blockchain Activity The Battle for Privacy Heats Up Privacy is all relative, but of late there’s been relatively little privacy to be enjoyed by bitcoin users. Blockchain monitoring software is becoming more sophisticated and more common, with U.S. law enforcement agencies using it to profile and hunt down deep web users. Chip Mixer is a relatively new bitcoin tumbler that’s designed to restore some of that privacy. Available on both the clearnet and darknet, the service uses a variety of techniques to obfuscate blockchain m...
10 comments
Read more

International Crypto Exchange Luno Adds Bitcoin Cash Trading

Luno exchange has added bitcoin cash trading to the platform following feedback from its client base. BCH is now only the third cryptocurrency available for trading on the exchange, in addition to BTC and ETH , but more options could be on the way once Luno determines that they are credible enough. Also Read: Bitflyer Adds Bitcoin Cash Trading Across Europe and the US Luno Adds Bitcoin Cash Trading Luno, the London-headquartered company formerly known as Bitx, recently announced that bitcoin cash was made available on its cryptocurrency exchange. Starting from Monday, September 23, customers at Luno are now able to store, buy and sell BCH on the platform. The reason given for adding BCH to the exchange is feedback from users in developing markets that convinced Luno to expand their offering from previously just BTC and ETH . Marcus Swanepoel, CEO of Luno, said , “We are in a new and exciting financial era. Developing economies are leading the large-scale adoption and appli...
Post a Comment
Read more

Ombudsman Receives Complaints About Crypto Investments in Spain

The Spanish ombudsman has been receiving complaints about cryptocurrency and how some Spanish citizens investing in these vehicles have lost everything. In his annual report, Angel Gabilondo recognized the rise of cryptocurrencies as a new problem due to the little or no regulation crypto sees in the country. In the same way, the EU has also warned about these assets recently. Spanish Ombudsman Gives His Take on Crypto Angel Gabilondo, the Spanish ombudsman, has given his take regarding cryptocurrencies and the effects they have on citizens investing in some of these projects. Gabilondo said in his yearly report that cryptocurrencies have become “a new problem” during the year examined, with many people having lost all of their funds invested. The report states : Cryptocurrency exchange companies or platforms are not regulated in the legal system, are not subject to any public supervision system, nor do they benefit from deposit guarantee systems. The affected users that sought...
Post a Comment
Read more