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A popular cryptocurrency analyst has identified the next move for three digital assets, including Ethereum (ETH) rival Cardano (ADA) and leading memetic token Dogecoin (DOGE).
A pseudonymous analyst known as Altcoin Sherpa has told his 187,000 Twitter followers that ADA doesn’t seem ready to bid even though it has already fallen 90% from its all-time high. .
ADA is still at risk of a 41% drop from its current price of $0.31, analysts said.
“ADA: If this area fails, another area won’t show up until you need $0.18 of support. I don’t see any reason to buy this, but I know people love it .”
Looking at DOGE, tech mogul Elon Musk’s favorite cryptocurrency, Altcoin Sherpa says the benchmark meme token looks attractive in the $0.085 range, where high-volume nodes (HVN ) is said to exist. HVN is a price range with a relatively high volume of trading and stands for fair value.
Altcoin Sherpa says it could rise to $0.085 before rallying to $0.15 or a 76% gain.
DOGE: I didn’t know if Elon tweeted anything (he sure did). It was a mistake to dampen the move recently, but I haven’t bought it yet. If you’re trying to get into her HVN area this next, be careful between .12 and .15. “
Analysts who follow closely are also eyeing blockchain scaling solution Polygon (MATIC). Altcoin Sherpa says that on the higher timeframe (HTF), MATIC looks poised to move higher. He has listed his $1.00 level as a target or potential resistance level.
MATIC: I still think this looks OK in HTF, EMAs all lined up and compressed in 1D. And we expect it to continue to rise.
At the time of writing, MATIC is trading at $0.82, down about 4% for the day.
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Featured Image: Shutterstock/Ronak Baheti
