The cryptocurrency market posted a 1.99 percent gain in the past 24 hours, extending its seven-day rally to 8.76 percent. This upward movement was fueled by Morgan Stanley’s recent filings for Bitcoin and Solana ETFs, which have significantly boosted institutional sentiment. Bitcoin held firm above $93,000, while Ethereum hovered near $3,200, maintaining its recent strength.
Altcoins also showed notable resilience. Dogecoin, Cardano, and Chainlink are currently positioned for continued upward movement, with analysts suggesting that sustained momentum could lead to further gains across the board.
Dogecoin Breaks Out, Targets $0.20
Dogecoin traded at $0.1525 after a 2.6 percent daily increase, pushing its weekly gain to 22 percent. The broader memecoin sector rose 4 percent to a $51 billion market cap, driven by strong performances from PEPE and SHIB. Dogecoin’s breakout from a falling wedge pattern has sparked bullish sentiment.
Technical analysts expect a brief pullback followed by a potential surge. If the current trend holds, Dogecoin could reach $0.20 in the short term. Traders are closely watching support levels for signs of continued strength in the memecoin rally.
Cardano Eyes $0.50 With Bullish Setup
Cardano climbed 6 percent to $0.4274, confirming a falling wedge breakout on the daily chart. A retest of the breakout zone suggests further upside potential. If market conditions remain favorable, ADA could rise to $0.45 and possibly reach $0.50.
The bullish momentum seen in Cardano is mirrored in Dogecoin and Chainlink, both of which are showing strong technical setups. Altcoins are gaining traction as investor confidence returns to the sector.
Chainlink Surges After ETF Approval
Chainlink rose 4.45 percent to $14.16 following the SEC’s approval of Bitwise’s spot LINK ETF, listed under the ticker CLNK on NYSE Arca. Coinbase will serve as the custodian. Grayscale’s LINK fund also reported $62 million in inflows, further signaling institutional interest.
Technically, LINK has reclaimed key Fibonacci levels, indicating a bullish breakout. If buying pressure continues, analysts forecast a move toward $20. The broader market is benefiting from ETF-driven optimism across major digital assets.
Frequently Asked Questions (FAQs)
- What is driving the current crypto rally?
ETF filings and approvals, especially for Bitcoin, Solana, and Chainlink, have boosted institutional confidence and market sentiment.
- Can Dogecoin reach $0.20 soon?
Yes, if momentum continues and support levels hold, Dogecoin could test the $0.20 mark in the near term.
- Is Cardano a good buy right now?
Cardano’s breakout and retest suggest bullish potential. If the market remains strong, ADA could climb toward $0.50.
