Cardano, VeChain, Dogecoin Price Analysis: 15 March

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A look at the Bitcoin Dominance over the past few hours suggested that, surprisingly, Bitcoin has suffered more losses than the altcoins during these past few hours. The altcoin market posted losses as well, with Dogecoin unable to hold on to $0.06 and Cardano slipping beneath $1.09 again. VeChain dropped by 10% but its longer-term uptrend looked intact.

Cardano [ADA]

Source: ADA/USDT on TradingView

ADA bounced sharply off the $1 mark and touched the mid-point of the range (cyan) at $1.14, but was unable to climb past. The retest of $1.09 as support did not see a defense mounted by the bulls, and ADA saw the $1.09 tested as resistance before another move lower.

Technical indicators painted a strongly bearish picture as the DMI showed a strong downtrend in progress. The Chaikin Money Flow indicated capital was flowing out of the market, another sign of seller dominance of recent hours.

At the time of writing, ADA was trading at $1.01. The $1.02 represents the 61.8% retracement level for ADA’s surge move from $0.81 to $1.48. Beneath it is the $0.96 level that could serve as support.

VeChain [VET]

Source: VET/USDT on TradingView



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