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Both assets have been sluggish on the weekly chart, but will that change for the better soon?
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Summarize with AI
Summarize with AI
Two of the largest and most popular altcoins might be prone to big upward moves ahead, at least according to Ali Martinez, who outlined the TD Sequential as the indicator suggesting these breakouts.
Namely, those are DOGE, which continues to struggle well below $0.10, and ADA, which has fallen even further below $0.30.
DOGE to Pump Soon?
The analyst with roughly 165,000 followers on X indicated that the TD Sequential had flashed a buy signal on Dogecoin’s chart. The metric is typically used to determine whether the underlying asset has reached an exhaustion point in either direction. After several mostly red weekly closures, the analyst said Dogecoin “could be setting up for a relief rally.”
Another bullish factor on the DOGE landscape comes from the sudden uptick in transaction volume. Data from Santiment shows a 420% surge in that metric over the past week, going from under $100 milion to over $510 million. Moreover, the graph below demonstrates that this number was significantly lower just several days prior, when it barely cleared $50 million.
These bullish signals come in an interesting time for the OG meme coin, which skyrocketed to almost $0.105 during the market-wide rally in the middle of the week, only to be rejected and pushed south by roughly 10% to under $0.095 as of press time.
ADA to Join the Rally?
Martinez also had some promising news for the Cardano community, which has struggled quite a bit lately. The asset remains over 91% down from its 2021 all-time high, currently fighting to stay above $0.25. It was rejected at nearly $0.30 earlier this week, but the analysts outlined a “blueprint” that can result in a much-anticipated rebound for ADA.
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First, it would need to hold above the key $0.23 support on tomorrow’s weekly close. Then, it could head toward $0.32 or even $0.37. However, a failure below that support would invalidate the setup.
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Source: https://cryptopotato.com/analyst-td-sequential-flashes-buy-signals-for-these-2-popular-altcoins/
