Ethereum

Dogecoin

Rekt

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 A closely followed crypto strategist is warning that Dogecoin (DOGE) may be on the verge of a deep pullback after failing to take out a key resistance level.
 Pseudonymous analyst Rekt Capital tells his 363,900 followers on the social media platform X that Dogecoin respected its multi-month diagonal resistance last week.
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 According to the trader, DOGE’s price action last week suggests that the memecoin is positioned to fall to its support at around $0.053.
 “Complicated weekly close for Dogecoin.
 [Weekly] close occurred below the channel top resistance.
 This means that the DOGE breakout is postponed.
 Previous weekly closes like this -&gt; downside
 However, if DOGE can hold the highs and reclaim the channel top as support – there may still be a chance.”&nbsp;
 <figure style="width: 100%" class="wp-caption aligncenter"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/F9tobz2WoAEAW94?format=jpg&amp;name=large" alt="Image" width="1786" height="1266">
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 Source: Rekt Capital/X
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 Looking at the trader’s chart, it appears that DOGE needs to convert resistance at $0.07 into support on the weekly chart to confirm the channel breakout.
 At time of writing, DOGE is trading for $0.0697.
 The crypto strategist is also watching the price action of Ethereum (ETH). Rekt Capital says that Ethereum looks primed for a rally after flipping resistance at $1,600 into support.
 “Forming a range between orange support and green resistance.
 Since BTC broke out from its own re-accumulation range…
 Perhaps ETH should be next.”&nbsp;
 <figure style="width: 100%" class="wp-caption aligncenter"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/F9iFWwKWIAAJyzF?format=jpg&amp;name=large" alt="Image" width="1786" height="1266">
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 Source: Rekt Capital/X
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 At time of writing, ETH is worth $1,813.
 The last altcoin on the trader’s radar is the decentralized machine learning network Fetch.ai (FET). Rekt Capital says that FET will likely witness a bullish continuation if it stays above its monthly support at $0.3633.
 “+77% rally…
 Revisited black and even pressing beyond it. 
 Black needs to hold as support if FET is to rally higher (yellow circle).”&nbsp;
 <figure style="width: 100%" class="wp-caption aligncenter"><img decoding="async" loading="lazy" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/F9m_hCAWIAARD-N?format=png&amp;name=large" alt="Image" width="1786" height="1266">
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 Source: Rekt Capital/X
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 At time of writing, FET is trading for $0.363.
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Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/crypto-analyst-issues-dogecoin-warning-says-doge-breakout-is-postponed-after-complicated-weekly-close-tbt68603.html">https://thebittimes.com/crypto-analyst-issues-dogecoin-warning-says-doge-breakout-is-postponed-after-complicated-weekly-close-tbt68603.html</a>

Crypto Analyst Issues Dogecoin Warning, Says DOGE Breakout Is Postponed After Complicated Weekly Close

TheBitTimes

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