Dogecoin, SafeMoon and Cardano – European Wrap 16 August


Dogecoin price rallied exponentially over the past 24 hours, slicing through a crucial supply zone and flipping it into support. This move, while bullish, needs to retest the newly formed demand barrier to confirm the presence of buyers.

 

DOGE/USDT 9-hour chart

SafeMoon price has been on a slow downtrend since its all-time high on May 12. However, the sell-off was exacerbated after May 19. Although SAFEMOON showed signs of reversal on August 4 and August 12, these signs were a fluke.

 

SAFEMOON/USDT 12-hour chart

Cardano price has shown extraordinary performance over the past three weeks as it more than doubled in value. This growth has managed to ignore all the sell signals and rise exponentially to where it currently stands.

 

ADA/USDT 12-hour chart

 

 

 

 



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