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Following
ADA 
DOGE 
SOL 
ZEC Major cryptocurrencies such as Dogecoin, Cardano, Zerocoin and Solana are facing continued market challenges. Despite brief attempts to rebound, these altcoins are still near key support levels and under pressure. The continued bearish momentum in the overall crypto market makes it difficult for these assets to escape their respective downward trends.
Can Dogecoin get rid of its decline?
Dogecoin's attempt to rebound has stalled and is currently barely above the key support level of US$0.069. Indicators still point to a bearish pattern, with dogcoin trading prices below the important moving average. Lower trading volume suggests selling fears are abating, but buying enthusiasm lacks the momentum needed to push prices upwards. Dogecoin stabilized near support levels, providing an opportunity for a slight gain, but a significant recovery needs to break through the 100-day moving average. If it continues to fall below US$0.068, it may trigger a new low and extend the long-term bearish trend. The current breakthrough attempt may only be a brief departure from the mainstream trend.
Can zero coins regain momentum?
Zero faces challenges as it falls back from its recent highs. The asset's decline was more moderate, suggesting profit-taking rather than panic selling. Zero is in a clear support area, and its future trend depends on whether it can remain above the key moving average to maintain recent improvements. The $413 mark provides long-term support and is crucial to protecting the emerging recovery trend. Breaking through the 100-day moving average could reignite bullish sentiment and target previous psychological resistance levels.
- The trend of zero suggests a moderate decline and may regain bullish momentum.
- The low trading volume of Dogecoin indicates weakening downward activity.
- Solana's sideways trading reflected limited upward momentum.
- Cardano showed signs of stabilization, but remained below key resistance levels.
Cardano
Cardano showed signs of stabilization, but remained constrained by strong resistance levels. The cryptocurrency successfully stayed above its short-term moving average while holding on to key support levels, which helped it avoid further selling pressure. However, a decisive break out of resistance is needed to signal any continued bullish trend.
