Aligning with the broader crypto market trend, Cardano (ADA) and Dogecoin (DOGE) are showing signs of a potential rebound, with analysts remaining bullish. The crypto market is currently on an upward trajectory, with the total market cap reaching $2.66 trillion, representing a modest 0.83% surge. Both Cardano and Dogecoin have demonstrated resilience despite their recent downturn.
Cardano (ADA) Shows Signs of Recovery; Learn More
Over the past few days, Cardano (ADA) has been experiencing a downtrend, sparking caution among investors. Last week, Cardano plummeted to a monthly low of $0.5165 and continued to trade in the negative zone.
However, ADA, in line with the broader crypto market resurgence, has managed to recover from the bearish trend, sparking optimism. Analyst AMCrypto shared a bullish forecast for ADA, positing that the altcoin holds a short-term target of $0.7.
According to AMCrypto, Cardano is currently positioned at its short-term support trendline, presenting a critical juncture for potential price movements. For a reversal to unfold, ADA would need to achieve a 4-hour candlestick close above $0.67, a level that could signal a shift in market sentiment.
Geopolitical Factors To Impact Investor Confidence
Despite this bullish outlook, AMCrypto presents a few factors that could affect investor confidence in ADA. For instance, he stated that broader geopolitical factors, such as the ongoing US-China trade tensions, may impact investor confidence and hinder a breakout. Until these trade dynamics stabilize, ADA’s ability to break through key resistance levels may remain challenging.
Dogecoin (DOGE) Rebounds: Is $2 on Horizon?
As of press time, Dogecoin (DOGE) is valued at $0.1559, up by 2.21%. Though the meme coin plummeted to a severe low of $0.151 last day, analysts and traders remain optimistic about its further moves, especially considering its current positive sentiment.
In a bullish forecast, market expert STEPH IS CRYPTO asserted that DOGE will hit $2 in the next three months. Reinforcing his prediction, other experts like CryptoSurf have also shared optimistic views. According to CryptoSurf, Dogecoin is poised to surge past $1 in the near term.
Will History Repeat for Cardano and Dogecoin?
Cardano is currently trading at $0.6153, with a surge of 1.37%. If history repeats itself, Cardano might be poised for a significant price surge, with April potentially marking the beginning of a major uptrend.
Currently, $ADA is testing a key resistance-turned-support level around $0.60. A successful breakout above the descending trendline could signal a bullish continuation, potentially driving the price toward $1.51.
For DOGE, historical patterns suggest that the meme coin is about to make a bullish rebound, potentially targeting $1 and beyond. According to CoinGape’s Dogecoin price prediction, DOGE will reach an impressive $0.1824687 in 2025.
The post Cardano (ADA) and Dogecoin (DOGE) Eye For Bullish Recovery appeared first on CoinGape.