Cardano,  Dogecoin, IOTA Price Movement Analysis for 1st March 2021

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Cardano brushed off a minor correction and once again looked at the record amount. IOTA was unable to break through its overhead resistance even though the indicators skewed marginally in favour of the bulls. Dogecoin developed a symmetrical triangle, but the breakout in any direction depends on the signals of the broader crypto industry.

Cardano [ADA]

Cardano has bounced back from $1.16 support to more than 20% since yesterday’s ATH. At the time of publishing, ADA held its status as the world’s third-largest cryptocurrency with a market value of more than $40 billion. Gains over the last 30 days stood firm at over 255 percent and demonstrated the strong uptrend of the crypto asset. The metrics, however, flashed mixed messages on its potential course.

The Stochastic RSI showed a saturation of the business vendors, and a bullish crossover could drive the price forwards. In the other hand, the Amazing Oscillator has shown that energy has shifted back and forth between buyers and sellers over the last few sessions. There was certainly a rise in record levels on the cards, and a spike in 24-hour trading volumes could trigger a strong rally. Conversely, a step below the current support will provide the next line of protection to the $1 level.

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Dogecoin [DOGE]

Source: DOGE/USD, TradingView

On its 4-hour map, Dogecoin shaped a symmetrical triangle as the price changed between two converging patterns. The trade rates were on the lower side and were aligned with the breakout trend. The trend typically accompanies an upward breakout, and DOGE could travel north towards a $0.07 resistance in a bullish outcome. The RSI pointed up from the 50-mark, while the MACD also tipped marginally in favour of the bulls as the fast-moving line passed over the signal line.

However, with the dynamics of the wider market over the past week, the bearish result should not be dismissed as well. A downward breakout could see the DOGE challenge support levels at $0.034 and $0.023.

IOTA

Source: IOTA/USD, TradingView

A look at IOTA’s 4-hour chart highlighted the cryptocurrency’s arduous attempt at recovery after the price dropped below $1 mark post Bitcoin’s $58,000 pullback. The ADX IOTA indicator was smaller than the 20-mark, indicating a lack of a clear trend as the price varied from $1.23 to $1.04. The Awesome Oscillator has become bullish-neutral.

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A increase over $1.23 will offer the next upside at $1.41. However, trading volumes and buying activity were insignificant in order to move beyond the time resistance of the press.

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