Dogecoin price has begun consolidating along the 50-day SMA and above the midline of the descending channel since May 20. Over the last few days, the relative strength shown by DOGE is a noteworthy divergence considering that it was created as a joke and has no utility. In times of market dislocation, it is imperative to seek out relative strength, and the meme-token is becoming one of those leaders.
Ethereum Classic price made a statement yesterday, closing up 42.33%, the largest daily gain since May 2017. The sizeable recovery put bears on alert and established the foundation for ETC to tackle May’s declining trend line moving forward.
Cardano price has traded around the 50-day simple moving average (SMA) for the past seven days, and it is on pace to close May with a double-digit gain. ADA will confront more volatility daily, but it remains well-positioned to be one of the leading digital tokens moving forward.