Bitcoin, Ethereum, DOGE: Possible Time for Minor Corrections
Looking at the BTCUSD chart, we see that the price in the Asian session made a new high at $ 63145, and after that, we have a shorter pullback to the current $ 62100. We are still in a rising channel, moving along the top edge of the channel with MA20 support a moving average that is in the $ 60,000 zone. To continue on the bullish side, we need to break above the top line and test the next historic high at $ 65,000. Further positive consolidation leads us to new historical highs.
For the bearish scenario, we need a negative consolidation that would be able to break below the MA20 moving average, and then we would go down to the $ 58,000 price and seek support here at the site of the previous jump to the $ 60,000 price. If the price continues with this pullback, the next lower supports are in the area 53000-55000 $, and after that, the area 48000-50000 $ where we are looking for support in the MA200 moving average and the lower trend line of support.
Ethereum chart analysis
Looking at the ETHUSD chart, we see that the price has met resistance at $ 4000 for the second time, and after that, we have a withdrawal at $ 3650. In this zone, we are testing support in the MA20 and MA50 moving average to continue on the bullish side and re-test the previous highs at $ 4000. The break above will give us the opportunity to climb even higher and threaten the previous historic high of $ 4380. For the bearish scenario, we need a continuation of this shorter negative consolidation, as well as a price withdrawal below the MA20 and MA50 moving averages.
After that, the first next lower support is in the $ 3350-3400 zone. At this level, additional support is the MA200 moving average, which can break the bearish trend and boost the bullish option and bring us back to higher levels on the chart.
Dogecoin chart analysis
Looking at the Dogecoin chart, we see that the price after the jump to 0.27000 quickly retreated below 0.2500, and we are now at the current 0.24500. It looks like 0.27000 is a big hurdle for now. We need a new positive consolidation to try again to test this resistance level. We are back in the falling channel again, and the price has retreated below the MA200 moving average on the upper side, while on the lower side in the zone around 0.24000, we are looking for support in the MA20 and MA50 moving averages.
Within this decline in consolidation, we can draw a trend line, and it can be our support and obstacle to the bearish trend. If we see a break below the trend line, our first support is at 0.22000, then 0.21000 at the crossing of MA20 over MA50, and below all that, we can look for additional stronger support at the psychological level at 0.20000.
The New York Attorney General’s Office (NYAG) has ordered two unnamed cryptocurrency lending firms to suspend their operations in the state. At the same time, further research was launched on three additional platforms.
Cryptocurrency platforms must follow the law, as does everyone else, which is why we are now directing two crypto companies to close and forcing three more to answer questions immediately, Attorney General James said. My office is responsible for ensuring that players in the industry do not take advantage of unsuspecting investors. We have already taken action against many crypto platforms and coins that have engaged in fraud or have operated illegally in New York City. Today’s activities build on that work and send the message that we will not hesitate to take all necessary action against any company that thinks it is above the law.
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