A cryptocurrency analyst has pointed out how a Dogecoin price level holds the 
cost basis of a notable amount of the memecoin, potentially making it a major 
support line. Dogecoin Traders Last Moved 28 Billion Tokens At $0.074 In a new 
post on X, analyst Ali Martinez has talked about the latest UTXO Realized 
Price Distribution (URPD) of Dogecoin. This indicator tells us about the 
amount of the asset that was last purchased at the various levels visited by 
it in its history. Related Reading: Ethereum Rebounds 6%, But Coinbase Demand 
Remains Weak Below is the chart for the metric shared by Martinez. As 
displayed in the graph, Dogecoin is currently trading around levels where 
little supply last changed hands. The nearest major cost basis center lies at 
$0.074, where 28 billion tokens of the cryptocurrency last became involved in 
transactions. In recent months, the memecoin has been in a downtrend and if 
the bearish momentum continues, it&#8217;s possible that it could end up retesting 
this huge supply zone. Currently, these investors are in a state of net 
unrealized profit, but when the retest will occur, they will drop back to 
their break even. It&#8217;s hard to say for sure how these holders would react to 
their cost basis being threatened, but often, traders try to protect their 
break-even level by participating in more accumulation. Though, this is 
usually the case when the market mood is positive. Given the sheer scale of 
the $0.074 supply barrier, however, any buying reaction could be of a 
significant degree. This is why the analyst has called it &#8220;one of the most 
important support zones&#8221; for Dogecoin. In some other news, DOGE has recently 
appeared to be following a Descending Triangle pattern, as Martinez has 
highlighted in another X post. The &#8220;Descending Triangle&#8221; forms whenever an 
asset observes consolidation between two converging trendlines, with a chief 
feature being that the lower of these lines is parallel to the time-axis. As 
is visible in the below chart, Dogecoin has been moving down this pattern on 
the 4-hour timeframe. Earlier this month, the coin retested the resistance 
level of the channel, but it ended up finding rejection. Currently, DOGE is 
trading about midway between the upper and lower levels, so it&#8217;s uncertain 
which level it might end up visiting next. Related Reading: Bitcoin HODLers 
Quietly Add 332,000 BTC Amid Market Chaos In the scenario that an escape from 
the triangle occurs during the next retest, it&#8217;s possible that Dogecoin could 
see a sustained move in the direction of the breakout. Based on the height of 
the Descending Triangle, Martinez has noted that a 29% move could be on the 
horizon for the asset. DOGE Price At the time of writing, Dogecoin is floating 
around $0.095, down over 7% in the last seven days. Featured image from 
Kanchanara at Unsplash.com, chart from TradingView.com

Dogecoin Supply Barrier: This Level Holds Cost Basis Of 28 Billion DOGE

Representatives from the digital asset industry reportedly met with the Senate 
Banking Committee on March 23 to review a White House-backed compromise—led by 
Sens. Tillis and Alsobrooks—on stablecoin rewards intended to revive the 
stalled CLARITY Act. The ‘Passive vs. Active’ Yield Pivot Representatives from 
the digital asset industry met with the U.S. Senate Banking Committee […]

‘Lose Ground to MiCA’: Industry Expert Warns Against Further CLARITY Act Delays

Enlivex says it acquired 3 billion Rain tokens at a discount and extended its 
option to purchase billions more discounted tokens until late next year.

Pharma firm Enlivex raises $21M for prediction market Rain token treasury

Solana found support at $85 and corrected some losses. SOL price is now 
consolidating above $90 and might aim for a steady increase. SOL price started 
a decent recovery wave above $88 and $90 against the US Dollar. The price is 
now trading above $90 and the 100-hourly simple moving average. There was a 
break above a key bearish trend line with resistance at $88 on the hourly 
chart of the SOL/USD pair (data source from Kraken). The price could continue 
to move up if it clears $92.80 and $95. Solana Price Eyes Recovery Solana 
price remained stable and started a decent recovery wave from $85, like 
Bitcoin and Ethereum. SOL was able to climb above the $90 level. There was a 
move above the 50% Fib retracement level of the downward move from the $97.67 
swing high to the $85.10 low. Besides, there was a break above a key bearish 
trend line with resistance at $88 on the hourly chart of the SOL/USD pair. 
However, the bears are active near $92.00. Solana is now trading above $90 and 
the 100-hourly simple moving average. On the upside, immediate resistance is 
near the $92.20 level. The next major resistance is near the $92.80 level or 
the 61.8% Fib retracement level of the downward move from the $97.67 swing 
high to the $85.10 low. The main resistance could be $95. A successful close 
above the $95 resistance zone could set the pace for another steady increase. 
The next key resistance is $102. Any more gains might send the price toward 
the $112 level. Another Decline In SOL? If SOL fails to rise above the $92.80 
resistance, it could continue to move down. Initial support on the downside is 
near the $88.40 zone. The first major support is near the $85 level. A break 
below the $85 level might send the price toward the $82 support zone. If there 
is a close below the $82 support, the price could decline toward the $75 zone 
in the near term. Technical Indicators Hourly MACD – The MACD for SOL/USD is 
gaining pace in the bullish zone. Hourly Hours RSI (Relative Strength Index) – 
The RSI for SOL/USD is above the 50 level. Major Support Levels – $92.80 and 
$95.00. Major Resistance Levels – $88.40 and $85.00.

Solana (SOL) Recovery Firms, Bulls Prepare for Stronger Upside Push

As Cardano (ADA) retests a key multi-year level that previously led to 
significant price increases, some analysts point to on-chain and derivative 
signals suggesting a potential price recovery for the altcoin. Related 
Reading: Ethereum Tops $2,100 As BitMine Ramps Up ETH Bet With $137M Purchase 
Cardano Retests Key Macro Support On Tuesday, Cardano dropped 3% to retest a 
crucial macro support level. The altcoin has been trading between $0.25-$0.30 
since the early February market crash, failing to break out of the range’s 
upper boundary over the past two months. ADA’s price has retraced to the lower 
levels of its one-month accumulation zone, hovering between $0.25-$0.27 during 
recent market volatility. Market observer Ali Martinez pointed out that the 
cryptocurrency has been retesting a key multi-year level amid this 
performance. According to the post, Cardano is retesting the $0.25 area, a 
major support zone since 2022, in the weekly timeframe. This level marked the 
bottom of the previous bear market and served as a key area at the start of 
the latest bull run. As Martinez noted, the last two times ADA traded around 
and held this level, back in 2023, it bounced 85% and 200%. The first bounce 
led to a retest of the $0.46 area, while the second drove the price toward the 
$0.80 level between October 2023 and March 2024. The analyst also highlighted 
that ADA recently printed a buy signal, signaling a potential recovery soon. 
“The TD Sequential indicator has flashed a ‘black 9’ on the weekly chart, 
suggesting the recent downtrend has exhausted,” he wrote, adding that this 
setup typically anticipates one to four weeks of expansion. As a result, ADA 
could target $0.32-$0.37 by late April if it holds above its current price 
levels. “We’ve survived the 6-month grind; now we watch for a potential price 
recovery,” Martinez asserted. ADA Flashes Bottom Signals Adding to the 
momentum, analytics firm Santiment has underscored multiple on-chain and 
derivative signals that could indicate a reversal is nearby for Cardano. 
According to the post, Cardano&#8217;s average active wallets have experienced a 43% 
negative return on their investments over the past year, suggesting a price 
rebound is more likely than usual. Despite the 71% price decline since 
September, this extremely negative MVRV value generally indicates that ADA is 
in an “opportunity” or “buy” zone, Santiment affirmed, further explaining that 
when average returns are significantly negative, it signals an impending 
turnaround: On a zero-sum game, when average returns are severely negative, 
this is an indication of a looming turnaround with coins always averaging 0% 
on MVRV&#8217;s (average trading returns) across any timeframe. So when other 
traders are in severe pain, key stakeholders and professional traders are 
intrigued by this due to the lowered risk of buying or adding on to their 
positions. In addition, the firm stated that Cardano’s funding rate on Binance 
is experiencing the largest imbalance toward shorts since June 2023, 
suggesting traders are heavily inclined toward further downside. Related 
Reading: Bitcoin Holds $70K – Is The High‑Beta Era Over? “Traders are clearly 
expecting that the #12 market cap will continue to decline in value,” the firm 
pointed out, noting that “this historically is another bottom signal, as 
funding rates are always prone to liquidate and send prices in the direction 
that traders are expecting the least.” Featured Image from Unsplash.com, Chart 
from TradingView.com

Cryptocurrency price in HUF