Cryptocurrencies Price Prediction: Cardano, Dogecoin & VeChain — Asian Wrap 11 June
Cardano Price Prediction: ADA needs to hold $1.39 or risks a dramatic decline
Cardano price illustrates a symmetrical triangle on the 12-hour chart with a clear but significant measured move of 50%, putting the May 19 low or the all-time high in the crosshairs depending on the resolution direction. However, a tempered outcome of 30-40% is more consistent with the support and resistance levels. For now, the governing ADA outlook is neutral.
Dogecoin price may fall 40% as fragile DOGE fundamentals multiply
Dogecoin price has shifted from a wide descending channel to a tighter channel after support folded at the 50-day SMA. The underperformance with Bitcoin and the breakdown in daily active addresses indicate a challenging outlook for the short-term, particularly in a rudder-less cryptocurrency complex.
Vechain price deteriorates, leaving VET exposed to a 35% decline
VeChain price is down 7% today at the time of writing, unable to build on yesterday’s rally of 6%, creating a further deterioration of the overall price structure. The potential head-and-shoulders topping pattern manifests the weakening price structure and clarifies the levels to be monitored for VET direction confirmation.
Author
FXStreet Team
FXStreet
