Dogecoin bulls are poised for a bounce next week and DOGE price sees the bulls hold the level as a squeeze continues. According to analyst Filip L., Cardano price is preparing to say goodbye to $1.00 and slide below. On the other hand, Filip L. suggests that the ETH price is likely to drop by more than 20% to $2,000. Details Cryptocoin. at com.
New levels for Dogecoin and Cardano
Dogecoin (DOGE) price is seeing the downtrend start to flatten out a bit as it seems unlikely to break below $0.125, a level tested last week and December. It looks like the price will do the same as the Relative Strength Index (RSI) shows no signs of bears beating the bulls, as the price rises again each time after reaching this level. However, there could be a bearish or breakout for the indicated level next week, or the bulls could start buying DOGE in the bandwidth of $0.10 – $0.125. According to the analyst, Dogecoin is set for a bullish candle next week or the week after that. Dogecoin price saw the bulls attempting a breakout towards the 200-day Simple Moving Average (SMA), but the bulls soon stalled on their tracks and even the Fed had to give way to the bears and geopolitical themes decided otherwise.
However, DOGE price is currently trading in exciting zones as the bulls hold the $0.125 level for the third week. It will be important to see if traders can ditch the negative mood this week and start the trading week next week with some positive sentiment, as it triggers a rebound every time. Expect to target the $0.17 level, which holds the 55-day SMA as an upside limit. According to the analyst, DOGE price could see a break below $0.10 if the market sentiment continues to recover and US indices collapse as hedge funds and speculators begin to withdraw their funds from risk assets completely.
According to Filip L., Cardano price is ready to say goodbye to $1.00 and slide below. Cardano price saw a brutal bull trap and was rejected against $1.64. ADA price is now moving further away as the bulls failed to push above $1.44 this week. The phase is set for ADA price to drop below $1.00 and seek support at $0.71. Cardano (ADA) bulls did their best to outperform the ADA price. However, the global market risks were too heavy to bear and the bulls faced a fierce rejection against $1.14. With the death cross formation, it cannot be said that Cardano is in an uptrend at any time as losses deepen further next week.
Powell and Fed’s message on Wednesday was crucial to Cardano price action and set the stage for a 10% loss for the week. Although small, price action clears away from $1.14 and tests the waters around $1.00, laying the groundwork to continue into next week. ADA price could enter next week by testing it and sinking below $1.00 for the remainder of that week, as long as the current headwinds continue and shake financial markets at its core. For brighter market conditions and clearer risk, wait for the bulls to stay on the sidelines, but until then, expect the ADA price to drop to a low of $0.71 from mid-February. A run towards $1.63 next week might be a long way off as the bulls have more room to go, but at least a break above the 55-days is possible. The Simple Moving average could be at $1.29.
Predictions for Ethereum
Ethereum price is targeting $2,000, but the bulls are ready in the trenches. Ethereum price is offering another bearish week after a sharp rejection at $2,695 on the upside. ETH price is likely to drop by another 20% in value to $2,000. Expect the bulls to defend $2,000 across the entire cast and the next week could set the stage for heavy battles between bears and bulls, Filip L. Ethereum (ETH) price looked poised for a rebound, but the Fed has made a move and now that ETH price action is looking to pull investors back. Needs more fixes. While the descent is painful for many bulls, there is light at the end of the tunnel because a very thick support band comes into play along with a few technical fundamentals. Expect ETH price to drop around 20% to $2,000 next week, but then start an uptrend as the bulls bounce back to historic highs.
$2,000 in Ethereum price will be irresistible for investors to participate. In this regard, Filip L. emphasizes the importance of marking and considering historical levels to avoid falling into any bull or bear trap. However, wait for Ethereum price to move one more leg down in search of support. The next support lined up could be the right support slightly lower with the historical $2,000 and a related additional historical support at $1,929. As long as the Relative Strength Index will trade in the oversold zone by then and see the booking gains of the bears, this area should create many opportunities for the bulls to break in. Monday could see a quick U-turn as the bulls jump out of the gates and rapidly push ETH price to $2,695.
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