Crypto Market Plummets: ADA, DOGE Fall 14%, 16% Amid Economic Uncertainty

The crypto market has been under intense pressure, with ADA and DOGE prices falling below key support levels due to rising global economic uncertainty. This situation, described by some analysts as an “economic nuclear war,” has led to a broader market correction, shaking investor confidence. Both ADA and DOGE exhibited strong bearish signals as technical indicators suggested weakening momentum. The ADA price fell below its critical $0.61 support, while the DOGE price breached the $0.15 mark, raising concerns about potential deeper losses.

On April 6th, ADA's trading day began with strong bearish pressure as a death cross appeared around midnight, pushing the price into a downward channel. Continued selling momentum led to oversold conditions on the RSI, with another signal flashing at 13:55 UTC, dragging the price down to a support level of $0.6187. At 16:40 UTC, the MACD line formed a death cross, accelerating the drop below this support. Oversold pressure persisted until 19:05 UTC, keeping the price under pressure into April 7th. Another MACD death cross at 2:15 UTC on April 7th confirmed the ongoing bearish trend. By 6:55 UTC, the price hit a new support at $0.5111 during another oversold reading. At 7:10 UTC, a golden cross on the MACD suggested a potential upward move. If bullish momentum holds, the price could break resistance at $0.6187. If not, a reversal could push ADA below $0.5000.

DOGE also faced significant challenges on April 6th, with bearish momentum as the MACD line formed a death cross at 1:35 UTC, triggering a downward channel. RSI remained in oversold territory, intensifying the decline. Another RSI oversold reading at 4:00 UTC pushed the price to find temporary support at $0.15959. The bearish outlook deepened with a second MACD death cross at 16:00 UTC, keeping the downward pressure intact. From 17:25 to 19:10 UTC, persistent RSI oversold signals led the price to break below the support. The bearish trend continued into April 7th, with another MACD death cross at 2:15 UTC and further RSI oversold readings at 3:40 UTC and 6:50 UTC, dragging the price to a new support at $0.12988. A golden cross on the MACD at 7:20 UTC hinted at recovery. If sustained bullish momentum could push DOGE toward $0.18000. Otherwise, a reversal could drop it below $0.12500.

The recent downturn in the crypto market, influenced by escalating economic tensions, has significantly impacted major altcoins like Cardano and Dogecoin. ADA’s price is currently $0.54835 reflecting a decrease of approximately 0.14% from the previous close. Similarly, DOGE is trading at $0.138386, down about 0.16%. According to the analyst's forecast, if bullish momentum returns, ADA could target resistance levels around $0.6187, while DOGE might aim for $0.15959. Conversely, continued bearish pressure could see ADA testing support near $0.5111 and DOGE around $0.12988. Investors are advised to monitor market developments closely. As ongoing economic factors continue to influence the crypto market’s volatility.