With the continuous rise and increasing institutional demand, cryptocurrency investors are pleased. The price of DOGE has also started to rise again
With the continuous rise and increasing institutional demand, cryptocurrency investors are pleased. The price of DOGE has also started to rise again. We are usually accustomed to the negative market before the Federal Reserve meeting, but this time the situation is different. We may see the direction determined by tomorrow's announcement and the data released before the end of Friday.
Prediction of Dog Coin Prices
The price of DOGE has broken through the resistance line, and the recovery is still ongoing. Breaking through the key $0.06 range, making the previous decline just a deviation. However, it is still too early to celebrate because a stronger closing is needed. The RSI reading on the daily chart shows an upward trend and continues to increase.
DOGE recently faced resistance at the $0.0734 level, which is 0.618 Fibonacci pullback resistance level. If we want to see accelerated price growth, we need to recapture the region in the next few days. We can see that in the past week, prices have been tested in the region with BTC's enthusiasm.
If the second resistance zone is also regained, we expect prices to rise by about 20%, approaching the peak of $0.083 in July. So, what happens to the opposite situation? If the DOGE price closes below the temporary support area of $0.066, it may fall to $0.06.
The largest meme token is attempting to aggregate demand to break through the next resistance level of $0.07.
Cryptocurrency Market Update
The cumulative trading volume is recovering to the level of $25 billion and has returned to the threshold of $40 billion. The total value of cryptocurrencies has jumped to $1.28 trillion. Considering the demand for BTC, short-term goals of $1.35 trillion and $1.5 trillion are not impossible. The King of Cryptocurrencies is attempting to consolidate the $34500 area.
AR, RUNE, BTT, and ATOM counterfeit coins continued to maintain double-digit growth, while RNDR, AAVE, MINA, and AXSCoin showed red. Tomorrow's interest rate resolution and the macro data released in the coming days will bring significant tests to the market. If employment and wage growth data exceed expectations, and cryptocurrencies continue to ignore these data, the expectation that the bear market has ended may further strengthen.
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