The crypto space is dominated by the best-performing coins that succeed in grabbing investors’ attention. Currently, the CEX space is dominated by DTX Exchange, which has successfully grabbed investors with its presale performance.
Established coins like ETH and Dogecoin (DOGE), on the other hand, have needed help with their prices. ETH has recently shown a sideway pattern, thereby indicating a consolidation phase. Dogecoin (DOGE) has slumped by 4% within a day hinting towards sluggish activity.
Ethereum (ETH) exhibited a bullish rally in the previous week as it reached the $3,495 resistance zone. Data from GeckoTerminal shows a bullish pattern with a continuous green candle dominating the price chart. However, ETH entered a consolidation phase in the past two days with a sideway pattern on the charts fluctuating around the $3,450 range.
A constant tussle between the bulls and bears is seen around this resistance, while the bears seem to have taken the lead with the prevalence of a bearish momentum. ETH has recently reported downtrends, regardless of the ETH token trading above the 50-day and 200-day Simple Moving Averages (SMAs).
The bearish outlook, however, would soon be changed into bullish as the technical indicators hint towards a buying frenzy among investors. The Relative Strength Index (RSI) is trading towards the overbought region, currently at 55. The bulls may also be capitalizing on the Moving Average Convergence Divergence (MACD) blue line, as it forms a bullish crossover.
The Ethereum price analysis shows an upcoming bullish trend over the consolidation phase, with the bulls targeting $3,700. ETH investors hope for a surge after the launch of ETH ETF.
The daily price analysis of Dogecoin (DOGE) hints towards a bearish trend. The daily price chart of Dogecoin (DOGE) is currently ruled by a constant red candle. The CoinMarketCap data reveals a dip of about 4% in the price of the meme coin within a day.
Dogecoin’s (DOGE) price dump is followed by a decrease in the market cap as well as the trading volume of the meme coin. Its market cap has decreased by 4% while the 24-hour trading volume of Dogecoin (DOGE) has slumped by over 12%. This sudden intraday decrease has confused investors.
For Dogecoin (DOGE), $0.119, $0.128 and $0.133 are the three crucial price levels to monitor. The $0.119 level acts as an instantaneous floor stopping further loss. Dogecoin (DOGE) may try to breach the next resistance at $0.128 if it keeps this support. If the meme coin can cross this barrier, it will be able to test the $0.133 level, which is significant resistance that could push the asset higher if overcome.
Amid bearish activity on Ethereum (ETH) and Dogecoin (DOGE), DTX Exchange is establishing itself as a major player in the cryptocurrency market. The platform's architecture revolves around the DTX protocol, which offers a strong basis for its functions and guarantees efficiency, security, and transparency for all users.
DTX provides a hybrid model that strikes a balance between accessibility and security by combining the best components of DEX and CEX. It makes use of smart contracts to enable automated, safe transactions. Whales have contributed millions of dollars to the project, bringing in significant funding.
As the market’s trend builds excitement, DTX might outperform its competitors, offering a highly lucrative opportunity and a compelling proposition for investors seeking high returns and a secure, efficient trading platform. It has readily raised over $980,000 in presale stage 2.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.