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Cardano’s ADA and leading memecoin DOGE, two notable Altcoins recording losses, are poised to close the year on a bullish note. Although both assets are trading under the $1 price mark at report time, key fundamental market factors suggest both assets could potentially hit $1 in the long term.
When will Cardano (ADA) smash $1?
Cardano’s ADA is the 10th most valued crypto asset by market cap, with 8.42% worth of year-to-date gains attained. While ADA is far away from its previously attained all-time high of $3.0992, the asset is not far away from smashing the $1 price mark.
Notably, market analysts have outlined a handful of technical signals suggesting a price upsurge is imminent. Analyst Altcoin Gordon recently remarked, ADA is back above the downward-sloping resistance level between the pivot highs at approximately $0.7793 and $0.7471.
AAD’s recent move above the aforementioned trend line, along with support around the $0.6000 and $0.6500 price marks, is the basis for the analyst’s bullish outlook.
Adding to the bullish sentiment, pseudonymous analyst Ali Charts observed that ADA was mirroring previous market cycle patterns; as such, the asset’s bull rally is still in its beginning stages.
At report time, ADA is trading at $0.91, with gains from the past 24 hours going above 5%.
How soon will DOGE get to the $1 price mark?
The most valued memecoin by market capitalization has, unfortunately, failed to reach the highly anticipated price mark of $1 since its inception. As data from CoinMarketCap shows, DOGE’s all-time high sits at $0.73, but that might change soon.
On a fundamental level, DOGE’s highly anticipated ETF will usher in new institutional players into the memecoin market for the first time. Like Bitcoin and ETH, DOGE’s price could soar with fresh inflows.
On the other hand, technical data points to a bullish formation, validating DOGE’s fundamentally bullish outlook. The analyst remarked that DOGE appears bullish on the higher time frame—a trading term referring to longer time periods on the technical chart.
At report time, a single DOGE token is valued at $0.26.
