Dogecoin (DOGE) faces a critical juncture at the 200 EMA, with a possible rebound or further breakdown. The US Dollar Index (DXY) may signal a Bitcoin surge if it weakens. Ethereum (ETH) struggles with the worst performance among the top 10 cryptocurrencies.
Doge coin Lands on Crucial Support, US Dollar Index Signaling Bitcoin Surge, Ethereum Shows Worst Top 10 PerformanceDisclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies.
Dogecoin Lands on Crucial Support, US Dollar Index Signaling Bitcoin Surge, Ethereum Shows Worst Top 10 PerformanceShiba Inu's Shytoshi Drops Mysterious 'Calm Before Storm' Hint With the help of its 50 and 200 EMAs, which both indicate continued strength, DXY has been on a strong upward trend. Bitcoin may be able to regain momentum, though, as the recent rejection at 109.50 suggests potential weakness. A further decline toward 106.40 or lower could occur if DXY is unable to maintain support at 107.70, providing a bullish setup for Bitcoin. Bitcoin might get stronger and try to break out toward $100,000 if DXY begins to fall, assuming it stays at its current levels.
In just a few days, ETH has dropped by almost 30% and broken below a number of important support levels. Normally serving as powerful dynamic supports, the 50 EMA and 200 EMA have been broken. If buyers do not intervene,ETH is having a hard time recovering in contrast to Bitcoin, which is still trading above $95,000, and XRP, which experienced a dramatic recovery following a significant decline.
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