As the last day of the week approaches, Bitcoin price will test $ 40 thousand as resistance once again. However, Dogecoin (DOGE) is consolidating with HL and LH levels to recover from the previous week’s decline.
DOGE price poised to complete consolidation on the upside
Dogecoin price dropped last week, but the 55-day SMA’s bounce around $0.1323 failed to reach the bulls at $0.16. Analyst Filip L. expects a breakout in both directions, but thinks that $0.18 can be broken with cooling. Also, it’s worth noting: Russia is currently focused on taking only part of the east in Ukraine, no major new elements have been added to further escalate the situation, and Macron is getting stronger on Le Pen in the polls, giving the EU a week of stability and a significant gain in power. leads to no change.
These elements may be enough to push DOGE price towards $0.18 against the 200-day SMA. If these headwinds get heavy enough to break above the 200-day SMA, the dollar index is trading above 100, thus slowing the rally a bit.
Downside risk may come from a lack of further earnings or from warnings from CEOs about rising price costs that must be passed on to customers, which could lead to further inflation. This could trigger a wide risk loss in the markets as Dogecoin pushes new lows for the year back to $0.1255 and possibly even $0.1004.
BTC price sees investor sentiment increase as risks decrease
BTC price should open above $44,088.73 on Monday as macroeconomic factors will further amplify the dollar’s pullback and create more upside potential. In addition, one can take into account the fact that the news from Ukraine, which we cover in the news of Kriptokoin.com, is increasingly becoming the second stage and falling into the background a little. This shows that talks are still ongoing and that a solution can still be mediated every day as Russian military actions are now.
This environment is a stable trend to gain, according to the analyst, it could help Bitcoin bulls to conquer the following levels:
A steady rally on this momentum will set BTC price in the next week. It will push it above $50,019.29 by the end and in the process, it will seize the 200-day SMA and the psychological $50,000 area as support for a further increase towards $54.00.
6191
