Bitcoin and altcoins could be en route to retest their recent strong support levels as bears try to extend the correction.) continues to trade inside a large range, suggesting indecision about the next trending move. Analysts trying to predict the direction are enthused by the $1.3 billion of USD Coin and the vital support at $60,775.
Conversely, if the price turns down and breaks below $3,056, it will suggest that the bears are in command. The pair may then retest the critical support at $2,852. A Break below this level may result in a decline to $2,700.) has been struggling to reach the overhead resistance of $635, suggesting that the bears are defending the level with vigor.However, a positive sign is that the bulls have not rushed to the exit.
Contrary to this assumption, if the price continues lower and breaks below the uptrend line, it will suggest that the bears are in control. The pair may plunge to $0.46, where the bulls are expected to provide strong support.The downsloping 20-day EMA and the RSI in the negative zone suggest that the path of least resistance is to the downside. If the price skids and maintains below the triangle, the DOGE/USDT pair may tumble to $0.12.
Instead, if the price continues lower and breaks below $0.46, it will indicate that the bears remain in charge. The pair could then slump to the crucial support at $0.40. A break below this level may resume the downtrend.) turned down from the 20-day EMA on April 24, but the bears are finding it difficult to pull the price below the uptrend line.The bulls will have to push and maintain the price above the downtrend line to signal a potential short-term trend change.
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Source: FXStreetNews - 🏆 14. / 72 Read more »
Source: FXStreetNews - 🏆 14. / 72 Read more »