Cardano (ADA) and Polkadot (DOT) Ignite Fresh Crypto Rally, Gaining Over 50% Each: What Analysts Are Saying
Cardano (ADA) has seen significant upside momentum over the past two weeks, rallying over 60% after breaking out of its accumulation range, according to market analyst Rekt Capital. On December 1st, Rekt Capital had noted how ADA was pressing up against resistance of its accumulation range.
Now, ADA has successfully broken out and quickly rallied to test the next resistance level.
As Rekt Capital points out, ADA perfectly followed the projected path in orange, rallying to test the next resistance level before pulling back to retest the breakout level as new support. With this successful retest complete, ADA appears poised to continue marching higher.
The strong rally comes amid an overall market upswing, with ADA outperforming many major cryptocurrencies. Over the past week alone, ADA has gained 15%. If bullish momentum continues, ADA could soon challenge $1 resistance.
Polkadot Follows Predicted Path After 55% Breakout Rally
Polkadot (DOT) has also been surging higher over the past few weeks, rallying 55% since its October breakout, notes Rekt Capital. After breaking out of its previous trading range, DOT successfully retested prior resistance as new support—a textbook confirmation of its trend change.
Now, as Rekt Capital points out, DOT has perfectly followed the projected path higher, turning prior resistance into new support. This successful backtest of the $6 level has opened the doors for DOT to continue rallying within its new uptrend.
Sure enough, DOT has already gained 7% just this week as its upside momentum accelerates. With DOT holding above key support levels, analysts are turning bullish on its outlook. More upside appears likely as DOT trends higher towards next big resistance level at $10.
The recent price action for both ADA and DOT underscores their status as market leaders during this latest crypto upswing. As two of the strongest performing major altcoins, further rallies could be ahead for both. Their trajectories will be important to watch as a barometer of overall market sentiment.
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