Bitcoin ETF Approval Spark a Rally for DOGE, ETH, and BTC

The SEC’s green light for Bitcoin ETFs boosted the crypto market’s mood and movement, since January 8th, 2024. DOGE, ETH, and BTC soared in the recent sessions, following Bitcoin’s surge and the increased appetite for digital assets.

Moreover, the future looks promising for Bitcoin, Ethereum and Dogecoin, as they are riding the wave of optimism in the crypto market. The approval of Bitcoin ETFs by the SEC has boosted the demand and value of these digital currencies, which have increased significantly on the chart.

These three cryptos are moving in sync, reflecting their strong correlation and potential.

Outlook for BTC, ETH, And DOGE in Daily Time Frame

DOGE (DOGE) Hinges The Bullish Ripple

DOGE rose by 19% since January 8th, bouncing off the key support zone at $0.0750. The coin has been showing a strong upward trend, and the long-term perspective looks positive.

The current market price is $0.0848, with a slight drop of 0.12% in the last 24 hours. The next hurdle for DOGE is at $0.1000, while the next cushion is at $0.0750.

The technical indicators for DOGE indicate a bullish scenario, as MACD is about to make a bullish crossover and RSI is above 14 SMA, indicating it has room to rise on a daily chart. Furthermore, the major EMAs are backing the price as it is above all major EMAs.

Ethereum (ETH) Indicates Powerful Performance

ETH took advantage of the support on January 8th and surged by about 26% on the daily chart. 

The current price is at $2672.9 and faces a temporary obstacle as the long-term perspective is optimistic. The next hurdle for ETH is at $2700, while the next cushion is at $2400.

Moreover, ETH is above all major EMAs, RSI is positive, and the MACD is widening as the histogram is rising.

BTC (BTC) Goes Higher

BTC has soared from the support zone of $41500 and achieved 14% growth in just a few days on the daily chart since January 8th.

The coin is exhibiting the signs of breaking the uptrend, which could indicate a short-term pullback in the making, overall the long-term perspective looks positive.

The current price is at $45784 with a drop of 1.22% in the last intraday session. The next hurdle for BTC is at $49000, while the next cushion is at $44240.

Summary

BTC, ETH, and DOGE are three meme coins that have benefited from the Bitcoin ETF approval and the positive sentiment in the crypto market. 

Furthermore, the coins may face some resistance and correction in the short term, but the long-term outlook is optimistic. The technical indicators for all three coins are also positive, suggesting more room for growth. 

Disclaimer

In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.

Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.