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February 27, 2024
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DOGE/BTC Is Struggling; Will This Affect DOGE/USDT Price?

The post DOGE/BTC Is Struggling; Will This Affect DOGE/USDT Price? appeared first on Coinpedia Fintech News

Dogecoin price has been off-the-radar for quite a long time as the price trend has been sluggish without any bullish or whale action. While the DOGE price flashes a buy signal as it approaches the edge of the consolidation With a successful rise, the price is believed to slice out of the triangle and rise beyond the interim resistance at $0.08. Besides, the price against BTC is not appearing to have weakened to a large extent which may drag the price lower. 

Source: Coincodex

The DOGE price against USDT has been trading within a decisive symmetrical triangle and approaching the lower support of the triangle. Here, the price is believed to spark a notable rebound after reaching these support levels.

Thus, the price could further regain the required bullish momentum and rise high back towards the upper resistance. This may continue until the price marks highs beyond $0.088 or $0.09. 

Besides, the DOGE/BTC is appearing to be quite bearish without any possibility of a trend reversal. The price could drop hard following a deep descending trend for the next few days, with fewer possibilities of a bullish rebound.

Hence, one of the top analysts believes that the DOGE/BTC trend could reflect the direction of the entire crypto market. The analyst believes the value could slide down by more than 40% to reach 200sats very soon. 

Coinpedia had reported earlier that the altcoins have been swapped into Bitcoin which is rising the BTC price to the present levels. Hence a similar impact is witnessed with the Dogecoin (DOGE) price rally in recent times. Therefore, the analyst may be pointing towards the plunging altcoin market that may impact the other tokens as well.

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