Shiba Inu Rival Indicates Potential Breakout
Crypto trader Ali Martinez believes that the biggest memecoin by market cap could experience a surge after surpassing a critical resistance level. He tells his followers that if Dogecoin (DOGE) climbs above $0.076, it could increase by around 13% from its current level.
Martinez notes that Dogecoin is currently caught between two crucial supply walls: a support wall at $0.072-$0.073 and a resistance wall at $0.074-$0.076. However, he points out that support seems to be stronger than resistance, hinting at the potential for an upward breakout if Dogecoin manages to slice through $0.076.
As of now, DOGE is valued at $0.0745.
Outlook on Cardano and Uniswap
Martinez also provides updates on Cardano (ADA) and the utility token of the decentralized exchange Uniswap (UNI). He indicates that the TD Sequential indicator suggests bearishness for ADA, forecasting a potential correction to retest the $0.30 support level.
ADA is currently trading at $0.356.
On the other hand, Martinez believes that Uniswap is showing bullish momentum based on the formation of two bullish patterns in different time frames. He mentions that UNI is targeting around $6 according to the daily chart and has broken out of a bull flag, aligning with the $6 target on the four-hour chart.
Uniswap is currently priced at $5.15.
Hot Take
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.
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