Dogecoin Forms Death Cross As Analysts Say Cardano and This Coin Is Undervalued

Dogecoin (DOGE) May Face Downtrend After Death Cross Formation

Crypto expert Ali Martinez has observed a bearish pattern on the DOGE price chart, indicating a potential downtrend. The "Death Cross" between the 200-SMA and MVRV ratio has historically been associated with price declines of 26% and 44%, according to Martinez.

If the downtrend materializes, DOGE could test the $0.20 support level. Whale activity on the Dogecoin network has significantly decreased, further suggesting a drop in investor sentiment.

Despite a recent 6.0% increase on the weekly timeframe and 5.1% on the monthly timeframe, DOGE remains undervalued by 33.5% on a monthly basis.

Cardano (ADA) Deemed Undervalued by Analyst

Crypto analyst Sssebi believes the Cardano price is undervalued and could rise significantly in the coming weeks. Potential factors contributing to this prediction include a possible Microsoft partnership, the launch of a Cardano ETF, and the blockchain's potential as a DeFi layer for Bitcoin.

Cardano has recently experienced an uptrend, consolidating between $0.80 and $0.83. A sustained move above $1 is anticipated, with long-term price targets as high as $15 (Martinez) and $3 (MR BANANA).

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Disclaimer: This article is a sponsored press release and is intended for informational purposes only. It should not be construed as investment advice.