[Market Analysis: DOGE & ADA Update – May 10, 2025]
DOGECOIN (DOGE) – Bullish Yet Cautious Setup
Current Structure: DOGE may be completing a 5th wave or an ABC correction. The ongoing rally could be part of a messy diagonal in a fifth wave or a high B-wave.
Resistance Targets:
First Target: $0.243
Next Levels: $0.267 and $0.282
Key Support:
$0.197 – As long as DOGE stays above this, short-term bullishness remains intact.
Entry (spot/futures): Near $0.21–$0.22 (on a pullback)
Stop-Loss: Below $0.197
Strategy: Monitor resistance zones for profit-taking. Watch for invalidation below $0.197 which could trigger a deeper correction (wave 2 or B).
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CARDANO (ADA) – Tracking a Wave 5 Move in A
Current Structure: ADA is likely in wave 5 of a wave A (within a larger Y wave). A sideways wave 4 is unfolding now.
Support Zone: $0.73 – Must hold to keep the bullish count intact.
Fibonacci Target Zone for Wave 5:
$0.845 – $0.895
With strong confluence at $0.863 (1.618 Fib extension)
Entry (spot/futures): On a retracement around $0.74–$0.75
Stop-Loss: Below $0.72
Strategy: Await completion of wave 5, then prepare for a B-wave pullback. Ideal for short-term swing or layered entries into a future C wave.
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