The cryptocurrency market is pushing a $1 trillion market cap ahead of interest rate decisions from the US and Europe. Meanwhile, nearly the entire market, including Bitcoin and Ethereum, gained in double digits. Let’s take a look at the technical analysis of how Dogecoin looks for APE and MATIC in the coming days.
Dogecoin price ready to swing
DOGE price is attempting to break above a descending trendline extending to May 2021. However, the most recent attempt came as Bitcoin was also bullish after weeks of tight consolidation. Thus, the bulls have reached the appropriate ground for a successful breakout.
In a highly bullish situation, buyers will target the $0.089 region in Dogecoin price. Analyst Akash Girimath says that after this level, the $0.1099 resistance can be tested. The ideal region to take profits would be $0.190, which is the midpoint of the 93% collapse seen between May 3 and June 13.
On the other hand, a possible pullback will confront the bulls with another support at $0.062. Alternatively, the drop to $0.066 becomes another ideal accumulation zone as it coincides with the 100-day EMA. These levels are ideal for averaging the dollar cost to DOGE in anticipation of the next rise.
As the market is currently bullish, a drop below the trendline will signal weakness among buyers. Also, if DOGE produces a weekly candlestick below the $0.0586 support cluster, it will create a lower low and invalidate the bullish thesis.
ApeCoin price poised for breakout
ApeCoin price has produced four lows since August 5. It stabilized around the $4.32 support level after September 7. Now, the biggest threat to the APE is $4.95 in the 50-day EMA. However, breaking this resistance will result in a quick rally to $5.56. This move will represent a 20% gain in total.
On the downside, ApeCoin will invalidate the bullish argument if the price closes below $4.32. This time, the next key supports are in the $3.78 to $3.65 region.
MATIC price approaches critical resistance level along with Dogecoin and Ethereum
Along with the likes of Dogecoin and Ethereum, the MATIC price also recorded a spike. Currently trading at $0.92, MATIC is approaching the critical psychological resistance at $1. Provided that the uptrend continues, there is a reasonable chance for MATIC to touch this level in the coming days. However, the odds of the same happening are slim as the RSI has gone into the overbought territory. The uptrend will downshift from now on. As a result, MATIC is facing some correction during its cooldown.
However, the extreme decline will happen gradually as it has the support of all three Simple Moving Averages (SMAs), 50-days (red), 100-days (blue), and 200-days (green). As you follow on Kriptokoin.com, MATIC has emerged today as the leading DeFi Blockchain in terms of DEX volume. This indicates that the momentum is on the upside for now.
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