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COINTURK NEWS > Altcoin News > Analysts Predict Potential Price Movements for Bitcoin, Ethereum, and Dogecoin
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Analysts Predict Potential Price Movements for Bitcoin, Ethereum, and Dogecoin

In Brief

  • Bitcoin faces sell pressure at $69,000 while fluctuations continue.

  • Ethereum shows signs of possible significant movement based on market data.

  • Dogecoin may reach $1 due to a bullish pattern observed by analysts.

Fatih Uçar
Fatih Uçar 7 months ago
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Bitcoin $105,203 continues to experience price fluctuations, recently dropping below $68,000 before surpassing the $68,300 mark again. Selling pressures at $69,000 have repeatedly hindered upward movements. Will bulls succeed this time? Today, we will review the latest predictions for DOGE, ETH, and BTC from three different analysts.

Contents
When Will Cryptocurrencies Rise?Dogecoin (DOGE)

When Will Cryptocurrencies Rise?

BTC stands at $68,350. Daan Crypto Trades mentioned in today’s market assessment that due to the upcoming U.S. elections, investors are largely sitting on the sidelines.

“Bitcoin is struggling around $67,500, where the most transactions measured by volume have occurred. The next significant barrier lies around $69,500.”

“I assume many traders are still on the sidelines, waiting for election results. It will be interesting to see if BTC attempts to rise before the elections. Based solely on the chart, I can say it looks ready.”

Kyle highlighted that a significant movement is approaching based on Ethereum $2,525 data. Strengthening flows in derivatives markets indicate two possible outcomes: either a major correction wave or ETH will initiate a trend shift.

“Recently, a surge of 96,000 ETH into derivatives markets indicates increased market activity. Historically, such influxes, marked by red boxes, led to price fluctuations or declines in Ethereum, as observed in May and July. This recent increase may signal either another price correction wave or significant market shifts.”

Kyle also pointed out that altcoins are signaling significant movement alongside ETH. If ETH experiences major volatility, we should observe a ripple effect across altcoin prices.

Dogecoin (DOGE)

The final analyst, Tardigrade, noted in a shared chart that Dogecoin $0.22452 (DOGE) has been mimicking its previous movements. Due to the formation of a bullish flag, the analyst expressed strong optimism regarding DOGE’s medium- and long-term performance, stating that DOGE’s price could reach $1.

“DOGE is showing an interesting Bull Flag that simply copies the previous cycle. Dogecoin has created a higher peak for the first time after four dips. Now, a Bull Flag is ready, and a breakout here could swiftly push DOGE to $1.”

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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Fatih Uçar 25 October, 2024 - 6:11 pm 25 October, 2024 - 6:11 pm
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