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Biggest Movers: DOGE, ADA Move to Multi-Week Highs on Wednesday

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Dogecoin is up more than 10% in today’s session as the meme coin neared its highest point in almost one month. The token has risen for the eighth session in a row, while cardano has also been in the green, rising for the ninth day in a row.

Dogecoin (DOGE)

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Dogecoin (DOGE) was a notable move on Wednesday as the meme coin surged over 10% in today’s session.

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The meme coin was one of the most profitable today as prices surged to an intraday peak of $0.07657.

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This surge saw DOGE/USD hit its highest point since June 27th and in the process approach a long-term resistance point.

DOGE/USD – daily chart

As you can see from the chart, this ceiling is at $0.07900, which has been in place for the past six weeks.

Although the bulls will look to overcome this hurdle, price strength seems to have hit its own hurdle.

This was in the form of the 61.50 level on the 14-day Relative Strength Index (RSI), which has not been broken since the end of April.

Cardano (ADA)

I saw Cardano on WednesdayADA) continues its recent streak as prices rise for the ninth day in a row.

After a low of $0.4812 during yesterday’s session, ADA/USD peaked at $0.546 earlier in the day.

The move saw the token hit its highest level since June 11, when prices fell from $0.6500.

ADA/USD – daily chart

This surge has seen the world’s seventh largest cryptocurrency break the previous ceiling of $0.5000, and now it looks like it will reach another one.

If the rally continues, this new ceiling will be at $0.5720, which is an area where the historical bearish pressure appears to be holding.

To move on to this mark, ADA first you need to see the price increase above 61 on the RSI indicator.

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Will the bears start coming back to Cardano if this ceiling doesn’t break? Let us know your thoughts in the comments.

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