While Bitcoin is spending time below the resistance level before the Fed rate decision, Dogecoin price is pushing the last 17-month highs against BTC. Let’s take a quick look at what 5 master analysts have to say about the duo.
Despite BTC selling wall, hopes of breaking remain
Material Indicators
The cryptocurrency market is eagerly awaiting the Fed’s announcement on interest rates on November 2. Less than 24 hours before the meeting, the on-chain data source Material Indicators reported a decrease in sell orders. “Binance orderbook is starting to look like a Tetris game,” MI analysts wrote on Twitter today. One chart shows that resistance was added just below $30,000 at the monthly close on October 31. Material Indicators said, “If the $46 million block at $30,000 falls into the active trading range, it will push the price down. On the contrary, if it goes up, BTC should work,” he continues. “Signals from the Fed on Wednesday could be a catalyst,” analysts added.
Crypto Tony
Meanwhile, analyst Crypto Tony highlighted the potential for upside re-entry based on the recent performance. “The bulls stepped in at the right time to defend the support zone,” he tweeted alongside an explanatory chart:
Now the question is, are we going to get a pump from here or dive and then rally to fix the liquidity dips?
coinglass
The monthly close for Bitcoin is around $20,500, marking a modest increase from gains of 5.6% in September and October, according to data from Coinglass.
Analysts split as Dogecoin rally continues
Dogecoin broke its multi-month downtrend with Elon Musk’s acquisition of Twitter. “A test at $0.17 seems inevitable at this point,” Crypto Tony says in a separate analysis. “We will continue to see more Doge tweets from Elon Musk,” according to the analyst.
Other popular analyst Anbessa warned of adding DOGE at current levels. But other analysts are more impatient about it. Anbessa, on the other hand, urges caution, “especially now if you’re Fomo and haven’t caught all the action.”
Giant wealth management firm predicted the future of Twitter and Dogecoin
In a recent note, Bernstein says it’s “not unreasonable” to imagine a Dogecoin future for Twitter. The firm suggests that Dogecoin could be Twitter’s “app currency”. cryptocoin.com As reported, Dogecoin recently experienced a stellar price rally following Tesla CEO Elon Musk’s acquisition of Twitter. Earlier today, the entrepreneur posted a photo of a Shiba Inu dog in a T-shirt with the Twitter logo. Many say this indicates an impending integration.
Still, it’s now clear how Dogecoin could potentially be used by Twitter users. There is some speculation on this that it could be used to pay for a Twitter Blue premium subscription. Musk came up with such an idea in April after initially buying a 9.2% stake in Twitter.
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram and YouTube join our channel!
Risk Disclosure: The articles and articles on Kriptokoin.com do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your due diligence and do your own research before investing in these currencies. You can lose some or all of your money by investing in Bitcoin and cryptocurrencies. Remember that your transfers and transactions are at your own risk and any losses that may occur are your responsibility. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, assets or services in this article.
Disclaimer: Advertisements on Kriptokoin.com are carried out through third-party advertising channels. In addition, Kriptokoin.com also includes sponsored articles and press releases on its site. For this reason, advertising links directed from Kriptokoin.com are on the site completely independent of Kriptokoin.com’s approval, and visits and pop-ups directed by advertising links are the responsibility of the user. The advertisements on Kriptokoin.com and the pages directed by the links in the sponsored articles do not bind Kriptokoin.com in any way.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.