Dogecoin has steadily increased in value, while Bitcoin has fallen below the 45,000 dollars mark.
The biggest global crypto struggled to stabilize above the support level of 46,000 dollars and inched closer to 45,000 dollars as investors took significant gains from the table following the bullish advance that brought Bitcoin from 37,300 to 46,700 dollars.
However, Ethereum encountered resistance at 3,300 dollars and retreated below the level at 3,125 dollars, which is predictable given the recent surge.
Following yesterday’s significant upward rise, XRP has steadied at 1.00 dollars.
Bitcoin Dominance, which gauges Bitcoin’s market cap as a percent of total cryptocurrency share value, continues to fall, indicating that investors’ enthusiasm in altcoins is growing.
This is good news for Dogecoin, which has acquired significant upward momentum.
Dogecoin is presently attempting to maintain a price of 0.27 dollars.
The RSI is approaching extreme territory, but there is still an opportunity for more upward movement if the proper triggers arise.
If Dogecoin rises over 0.27 dollars, it will face a further challenge of the closest resistance line and is at 0.2750 dollars. A test launch of this milestone will pave the path for the following support level at 0.2830 dollars to be tested.
If Dogecoin finally breaks over the bullish divergence of 0.2830 dollars, it will move on to the next resistance level at 0.29 dollars.
A rise over this mark will drive Dogecoin toward a support level at 0.2950 dollars, which would be close to the previous highs.
For the resistance part, Dogecoin must go below 0.27 dollars to build bearish momentum in the short future. If Dogecoin falls below 0.27 dollars, this would move towards the resistance level of 0.2670 dollars.
A test launch of the resistance level at 0.2670 dollars will pave the path for the following resistance level at 0.2630 dollars to be tested.
If Dogecoin drops below this mark, it will head toward this current support level of 0.2570 dollars. If Dogecoin falls below this level, it will be pushed towards the 0.25 dollars resistance mark.