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Dogecoin (DOGE) and Bitcoin Cash (BCH) face bearish headwinds in a bleeding altcoin market. The prices continue to trend sideways below critical thresholds, and analysts are voicing concerns about their price prospects in the upcoming days.
Due to surging market speculations around Dogecoin (DOGE) and Bitcoin Cash (BCH), an emerging tradFi project DTX Exchange (DTX) emerges with a record-breaking presale performance. The project nears its 2024 listing, aiming to surpass existing marketplaces with advanced technologies and an all-in-one solution with high-profit margins, speed, and security.
Memecoins are witnessing notable selling pressure after new US economic reports. Dogecoin (DOGE) stands on the verge of a potential price dip after the August 5 crash as investors dump millions in Dogecoin (DOGE) to book profits and reduce the risk of losses. The DOGE memecoin continues to trade within a falling wedge and is entering a decisive zone.
The technical analysis displays a bearish crossover, and the Dogecoin (DOGE) bulls are pushing hard to defend the crucial support of $0.1. However, bears are gaining dominance and the memecoin might face a price setback this week, following a 3.5% decline on the intraday chart. Dogecoin (DOGE) bulls must build a strong support base at $0.1 to mitigate further downside risks.
Bitcoin Cash (BCH) again enters a volatile market zone, with its price fluctuating above the $324 support level. The turbulence for BCH is linked to the start of redistribution by Mt Gox, initiated by a $2 billion worth of BTC test transaction to a BitGo wallet. The remaining 46,000 BTC in Mt Gox Addresses are set to enter the market soon, causing volatility for the Bitcoin Cash (BCH) price trend.
The rising speculations about Bitcoin Cash (BCH) have raised questions about its price prospects for this month, especially when combined with the technicals. The increasing gap between Bollinger Bands suggests the potential of a brief pullback for Bitcoin Cash (BCH) price, as bears pull the price down with a 3.3% decline on the intraday chart and close near the $330 support level.
DTX Exchange (DTX) fills the technological gaps in the trading sector by introducing new trading schemas and cutting-edge features to revolutionize the conventional approaches to optimize and navigate finances. The powerful platform of DTX includes a 1000x leverage with AI-powered technology to merge the expertise of machine and human potential.
Retail and institutional traders can access 120k+ assets across diverse financial markets, including stocks, cryptos, and forex using the easy-to-use DTX TradFi platform. In addition, the flexibility through real-time analytics and automation strategies provided by DTX is unmatched with a high execution speed, passive income model, and gas-free trading.
DTX Exchange has turned the heads of the crypto community after raising an astonishing $1.3 million in batch 2 of the public presale. DTX Exchange enables a secure trading environment through blockchain layer-1 and KYC-free onboarding. Currently priced at $0.04, the DTX token is expected to rise to $1 post-launch, promising a 1200% rally for early buyers.
As bears lock eyes on Dogecoin (DOGE) and Bitcoin Cash (BCH) amid rising market turbulence, DTX Exchange’s massive presale can offer a sigh of relief to savvy investors with safe investment options and bullish potential. The blend of cutting-edge tradFi technologies, robust trading features, and strategic marketing positions DTX presale as a must-buy in this market cycle for sky-high gains.
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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.
