The crypto space witnessed a magnificent upswing in the past few days as the prices of the majority of the cryptos experienced a gigantic upswing. This was further fueled by Ripple partially winning over the government agency, the SEC. The win was seen as the victory of the entire crypto space, which propelled the prices above their respective resistance levels. However, the rise failed to sustain for a long time as the prices of major cryptos began to drop, except for some altcoins like Dogecoin, which continue to remain under bullish influence.
The DOGE price is testing one of the crucial support cum resistance levels, which is very important for the token to secure to lay the groundwork for a firm upswing ahead. Once the levels are cleared and secured, the higher targets mentioned in the above chart may be tested and achieved accordingly.
Besides, Cardano’s price is undergoing a little diverse price action. After the recent jump, the price experienced a notable pullback similar to that of Bitcoin. The price faced rejection from the 200-day MA levels in the long term and is currently testing one of the crucial support levels at $0.3. A firm rebound from these levels may trigger a fine upswing toward the next higher targets.
The ADA price is currently heading towards daily support at around $0.25. Once the price reaches these levels, a pump may be expected that may lift the price along with the direction of the upswing mentioned here on the chart. However, the bearish influence has been intensified presently, and that may not allow the price to trigger a rebound. Hence an extended consolidation along with the lower support may be expected for a while before the price undergoes the next course of action.