As crypto markets show symptoms of weakening, a top crypto trader is changing his outlook on the main digital asset Bitcoin (BTC), top altcoin Ethereum (ETH), and popular meme token Dogecoin (DOGE).
Bitcoin(BTC)
Bitcoin price failed to clear the $43,500 level and plunged below the $42K level before recovering. At the time of writing, BTC is trading at $42,402 down by 1% in the last 24 hours. The support is at $42,000 and resistance at $43,500.
To keep its bullish momentum, Rekt Capital, a pseudonymous crypto expert, tells his 295,000 Twitter followers that Bitcoin must reclaim a key price region before the weekends.
“Weekly candle close above ~$43,100 and BTC could see further upside into the high $50,000s.”
Bitcoin has broken out of a huge reversal pattern on the weekly period, according to Rekt, and is currently retesting previous resistance as support.
He says BTC has finally broken free from its ascending triangle. In order to completely validate the breakout, BTC is currently retesting the ascending triangle top as new support. The retest is currently underway.
Ethereum (ETH)
Ethereum price failed to surge above the $3,300 level. The altcoin started a fresh decline below $3,250. At the time of writing, ETH is trading at $3,215 down by 1.6% in the last 24 hours.
The next major support is near the $3,150 level, below which the price could decline to $3,050. On the upside, the bulls take control breaking the short-term hurdle at the 3,250 level. The major resistance lies at the 3,300 level, above which the price may start afresh increase
After failing to break over its monthly resistance level of $3,440, the main smart contract platform Ethereum (ETH) may retest the $3,000 range, according to Rekt Capital.
The blue $3,440 Monthly resistance has been rejected by ETH. As a result, a $3,000 (black) revisit is now possible.
It’s worth repeating that wicks appear when black is retested on a dip. As a result, if ETH drops below black, it may wick into the green upper low.
Dogecoin (DOGE)
DOGE Price dropped below the $0.150 level. At the time of writing, $0.1473 and seems that it might approach the $0.142 level. If bearish trends extend, the price might also plunge to the $0.135 support level.
Finally, Rekt Capital mentions Dogecoin, predicting a surge to approximately $0.28 for the dog-themed digital asset.
“DOGE is still attempting to retake the $0.14 range low as support,” says the report (green). If [that range] is reclaimed as support, DOGE will have validated a return to this +44 percent-wide range.
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Source: https://coinpedia.org/altcoin/bitcoin-btc-ethereum-eth-and-dogecoin-doge-prices/