The cryptocurrency market is a dynamic environment that is constantly changing and offers exciting opportunities for many investors. In this context, analyst Ali Martinez drew attention with his analysis of important movements in the market.
The first issue that caught Martinez’s attention was the one that stands out among meme coins. dogecoin. According to the analyst, Dogecoin breaking the $0.076 resistance level could lead to a significant increase in the value of this popular meme coin. Martinez states that in this case, Dogecoin could gain approximately 13% in value from the current level.
“Dogecoin is navigating a narrow zone squeezed by two major supply walls.
Support Wall: Covers $0.072 to $0.073, with 200,000 addresses holding 28.6 billion DOGE between these levels.
NEWS CONTINUES BELOWResistance Wall: Ranges from $0.074 to $0.076, with 124,000 addresses holding 26.95 billion DOGE. Note that support has surpassed resistance in terms of strength and indicates the potential for an upside breakout. If Dogecoin breaks above $0.076, all eyes will be on the next major hurdle at $0.084.”
Koinfinans.com As we reported, the popular meme coin was trading at $0.0745 at press time.
Another focus of Martinez’s analysis is Cardano (ADA). The analyst notes that there is a bearish trend on the cryptocurrency based on the Tom Demark (TD) Sequential indicator. This could be a potential sign of weakness regarding Cardano’s future. The TD sequential indicator is used to identify possible turning points.
“TD Sequential is offering a sell signal on the daily chart of ADA, predicting a correction that could lead to ADA retesting the $0.30 support level.”
Finally, Martinez focused on Uniswap, examining the bullish momentum of this platform. Based on bullish patterns formed over two different time frames, he says Uniswap could experience a significant increase. However, it is important to remember that such forecasts are not always precise and market conditions can change quickly.
“On the daily chart, UNI is tracking the hypotenuse of a descending triangle and targeting around $6. Additionally, the four-hour chart shows that UNI has broken the bull flag and is in line with the $6 target.”
Uniswap is trading at $5.15 at press time.
You can follow the current price movement here.