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Over the last two weeks, several macroeconomic factors have caused huge downward price swings in the cryptocurrency market. Dogecoin (DOGE), the number one meme coin, has survived the worst of the market downtrend but has been trading sideways ever since. On the flip side, Tradecurve (TCRV) has been exhibiting a bullish price pattern, suggesting the potential for more upward price movement.
Despite receiving support from Elon Musk numerous times in the past month, Dogecoin has been unable to sustain a bullish price momentum. The token has been trading within a range of $0.0600 and $0.0700. In June, the price briefly dropped to a low of $0.05309 before swiftly rebounding above the $0.0600 level.
Investors, however, remain hopeful for a potential price rally. As per CoinMarketCap, Dogecoin is trading at $0.061786, a slight decline of 0.15% in the last 24 hours. Although the overall fear in the cryptocurrency market has subsided since last week, a bearish sentiment still lingers for Dogecoin. Both the Relative Strength Index (RSI) and the RSI-based Moving Average (MA) have dipped below 40, with values of 37.66 and 31.77 respectively, indicating that the cryptocurrency remains in the bearish territory.
One of the primary reasons contributing to this situation is the lack of fear among investors, who view this as an opportunity to accumulate more supply. Meanwhile, the crypto community is eagerly awaiting the outcome of the federal interest rate hike decision on June 14th, as it is expected to influence the direction of the market.
While Dogecoin holders await a market recovery, Tradecurve's utility token, TCRV, is gearing up for another price jump evidenced by its bullish price pattern on the daily market. The token has been bullish so far despite the recent price collapse in the crypto market triggered by the US Securities and Exchange Commission (SEC). Presently, TCRV is forming a bullish price pattern, signaling more price increases in the long run.
More buyers are entering the market as sentiment remains at an all-time high. One crucial factor contributing to this bullish momentum is Tradecurve's potential exposure to a wide range of asset markets, including forex, commodities, CFDs, stocks and crypto all of which can be traded using a single account. Tradecurve also has relatively lower trading fees compared to centralized exchange (CEX) platforms such as KuCoin and Huobi.
As a result, the combined trading activity across these diverse markets is expected to enhance the platform's trading volume, and liquidity and ultimately push up TCRV's price. Moreover, investors seeking exchanges that offer anonymous trading without the requirement of filing KYC forms have turned their attention to Tradecurve.
At the moment, TCRV is in the fourth phase of its token presale and is priced at $0.018 per token, and the bullish action could take its price as high as $0.35 in the coming weeks.
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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.
