Traders think the skies will be clearing for Dogecoin (DOGE) now that the leading memecoin has crossed a major price hurdle.
Analyst Ali Martinez told his 34,800 followers on social media platform
According to Martinez, cryptocurrency bulls have amassed billions of dollars in DOGE at $0.095. He believes that this price area currently acts as solid support.
“Dogecoin has successfully cleared all major resistance levels!
The path appears set for an upward journey as $0.095 proved to be strong support thanks to the purchase of 3.2 billion DOGE from 63,280 addresses. If this support holds firm, I could see DOGE targeting $0.14 next.”
As of this writing, DOGE is trading at $0.01.
Traders are also closely watching Ethereum (ETH) scaling solution Polygon (MATIC). Martinez said that as long as MATIC moves above $0.80, we are likely to see more rallies.
“Most MATIC tokens were purchased or acquired between $0.80 and $0.86, with 42,000 addresses holding approximately 5.8 billion MATIC in this core demand area.
Given the minimal resistance ahead, Polygon appears poised for an uptrend as long as this level holds.”
As of this writing, MATIC is trading at $0.909.
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Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are entirely at your own risk and that you are responsible for any losses that may occur. The Daily Hodl does not recommend the purchase or sale of any cryptocurrency or digital asset, and The Daily Hodl is not investment advice. The Daily Hodl engages in affiliate marketing.
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