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The ongoing weakness in the cryptocurrency market continues as the $62,000 level has been lost. Ahead of the upcoming Fed minutes, cryptocurrencies generally reflected a downward trend. A popular crypto expert recently shared a graph indicating we might be seeing a repeat of Dogecoin’s performance from 2021.
Dogecoin Predictions
BTC is experiencing a downturn while DOGE finds buyers around the $0.11 mark, reflecting a 2% increase. Maintaining support at $0.105 is necessary for further upward attempts. Trader Tardigrade suggests we might soon witness an upward breakout after a long consolidation period similar to that of 2021 for Dogecoin 
$0.234168.
“DOGE has shown a convergence pattern after breaking a long downtrend, resembling the final consolidation before the Great Bull Run of 2021.”
If proven correct, the analyst predicts a price target of $1.8 could repeat the previous cycle’s peak, with upward momentum potentially increasing at $0.5.
Predictions for ETH and Bitcoin
Mikybull made a bold comment regarding the largest altcoin by market capitalization. In his graph, he suggests that Ether is in the final stages before starting a rally aimed at reaching $5,000. If accurate, this could lead to a weakening in Bitcoin’s market dominance, creating conditions for a parabolic rise in altcoins.
“The next rally wave for ETH is about to start, targeting $5,000.”
Daan Crypto Trades pointed out significant liquidation clusters at $61,400 during the ongoing decline of BTC.
“There are substantial liquidation clusters around $61,400 and $62,600 for Bitcoin 
$103,563. Their magnitude is due to the time spent around the volatile $62K price level, where a good amount of positions have formed.”
With approximately half an hour before the opening of U.S. markets, BTC could see deeper dips triggered by the liquidation of long positions at these relevant levels.
