Crypto Trader Says One Shiba Inu Rival Hinting at a Potential Breakout, Updates Outlook on Cardano and Uniswap
Crypto trader Ali Martinez says that the largest memecoin by market cap could surge after overcoming a key resistance level.
Martinez tells his 32,300 followers on the X social media platform that if Dogecoin (DOGE) manages to climb above the $0.076 resistance level, the leading memecoin could surge by around 13% from the current level.
“Dogecoin is navigating a tight zone, sandwiched by two crucial supply walls.
Support Wall: Spanning $0.072-$0.073, with 200,000 addresses holding 28.6 billion DOGE.
Resistance Wall: Ranging from $0.074-$0.076, where 124,000 addresses hold 26.95 billion DOGE.
Note that support outstrips resistance in strength, hinting at the potential for an upward breakout. If Dogecoin slices through $0.076, eyes on the next significant hurdle at $0.084.”
DOGE is worth $0.0745 at time of writing
Turning to Cardano (ADA), Martinez says that the Tom Demark (TD) Sequential indicator is forecasting bearishness on the ninth-largest crypto asset by market cap. The TD sequential indicator is used to identify possible inflection points.
“The TD Sequential presents a sell signal on ADA daily chart, anticipating a correction that could see ADA retest the $0.30 support level.”
ADA is trading for $0.356 at time of writing.
Next up is the utility token of the decentralized exchange Uniswap (UNI). Martinez says that the bullish momentum for Uniswap is “heating up” based on the formation of two bullish patterns in two different time frames.
“On the daily chart, UNI is eyeing the hypotenuse of a descending triangle, targeting around $6. Plus, the four-hour chart reveals UNI breaking out of a bull flag, aligning with the $6 target.”
Uniswap is trading at $5.15 at time of writing.
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The post Crypto Trader Says One Shiba Inu Rival Hinting at a Potential Breakout, Updates Outlook on Cardano and Uniswap appeared first on The Daily Hodl.
