Bitcoin (BTC) has boosted the rest of the cryptocurrency market after its excellent performance at the end of February and the beginning of March. It has increased altcoins such as Cardano (ADA) and Dogecoin (DOGE) while also showcasing captivating new benefits updates.
Cardano (ADA) Market Evaluation.
Cardano (ADA) had been outperforming for most of 2024 before Bitcoin (BTC) stepped in and picked up the pace. Cardano (ADA) peaked at $0.80 on March 4 before plummeting to $0.56 the next day. Aggressive bulls bought the dip, driving prices back up to $0.73, where they trade as of press time on March 8. If the Cardano (ADA) bulls keep this pace, we may see another retest of resistance above $0.80 very soon.
Dogecoin’s (DOGE) Price Analysis
Dogecoin (DOGE) traded at around $0.16 as of press time on March 8th, precisely at the resistance level that has experienced major profit taking and selling. Dogecoin (DOGE) bulls are failing to break through resistance, signaling that massive sell-side pressure is building up each time the dog-themed meme coin hikes. If Dogecoin (DOGE) can sustain a breakout over $0.16, it may test local highs above $0.20. Another breakout and closing over $0.20 might pave the way for the next leg up at $0.30.
Release: The purpose of this content is only to provide knowledge. Readers have to do their own research before making investment decisions.
