Skip to main content

Biggest Movers: DOGE Nears Key Price Floor, as TON Extends Gains

Biggest Movers: DOGE Nears Key Price Floor, as TON Extends Gains

Dogecoin moved closer to a key support level on Friday, as the meme coin slipped for a second straight session. Today’s decline comes as the global crypto market cap edged lower, falling 0.77% lower as of writing. Toncoin was on the other side of the spectrum, hitting a one-week high.

Dogecoin (DOGE)

Dogecoin closed in on a collision with a key price floor on Friday, as the meme coin fell for a second straight day.

DOGE/USD dropped to a low of $0.0619 earlier in today’s session, following a high of $0.06308 the day prior.

As a result, dogecoin was a stone’s throw away from a support point at the $0.06000 mark.

This turn in sentiment comes after the price was unable to break out of a resistance level of $0.06500 on Wednesday.

The relative strength index (RSI) also failed to breach a ceiling of its own at 36.00, and is now tracking at 33.37.

Should this decline continue, bears will likely look to exit once the index reaches a floor around 32.00.

Toncoin (TON)

On the other hand, toncoin (TON) was mostly in the green during today’s session, as price remained near a one-week high.

Following a low of $1.40 on Thursday, TON/USD peaked at $1.44 earlier in the day, its highest point since last Thursday.

The move saw the token near a resistance level of $1.50, a point which was last hit on August 16.

Sentiment has somewhat shifted as the day progressed, as a result of the RSI hitting a ceiling of 58.00.

Currently, price strength is tracking at 54.44, and seems to be heading towards a floor around the 50.00 region.

In the event this target is reached, TON will likely move below $1.20.

Register your email here to get weekly price analysis updates sent to your inbox:

Will momentum continue to trend lower this weekend? Let us know your thoughts in the comments.



from Bitcoin News https://ift.tt/ptXF8Vy
Labels:

Comments

Post a Comment

Popular posts from this blog

Mt Gox Creditors Updated, Trustee Says Rehabilitation Custodian Is ‘Currently Preparing to Make Repayments’

On August 31, 2022, the Mt Gox trustee Nobuaki Kobayashi explained in a recent letter that the rehabilitation custodian is “currently preparing to make repayments” to Mt Gox creditors. Trustee Updates Mt Gox Creditors — Repayment Date and Exchange Still Unknown Last week speculation and rumors concerning the release of 140K bitcoin ( BTC ) from Mt Gox littered social media platforms and headlines. Bitcoin.com News covered the situation six days ago as a number of people and Mt Gox creditors called the rumors “ fake news .” During that same period of time, a bitcoin whale transferred 10,000 BTC to unknown wallets, and a 2018 annotation , heuristics, and clustering methods show the funds likely originated from the June 2011 Mt Gox hacks. Following the mysterious whale transfer, last Wednesday, Mt Gox published an official update from the court trustee Nobuaki Kobayashi that explains the court is “currently preparing to make repayments” to creditors. Mt Gox creditors have been wait...
Post a Comment
Read more

Fidelity Discusses Bitcoin as Portfolio Insurance — Could Soon Stand in ‘Stark Contrast’ to Path Fiat Currencies Take

Fidelity Digital Assets, a subsidiary of Fidelity Investments, says that bitcoin could be considered portfolio insurance. The firm notes that the cryptocurrency “may soon stand in stark contrast to the path that the rest of the world and fiat currencies may take — namely the path of increased supply, additional currency creation, and central bank balance sheet expansion.” Fidelity Says Bitcoin Could Be Portfolio Insurance Fidelity Digital Assets, a subsidiary of Fidelity Investments, recently published a research study titled “The Rising Dollar and Bitcoin.” The research outlines “how bitcoin could be considered portfolio insurance” as the rising dollar impacts global currency markets. “The strengthening U.S. dollar is wreaking havoc among other countries and may put pressure on the Federal Reserve to soon reverse its tightening monetary actions, something that has precedent based on 1985’s Plaza Accord,” Fidelity explained. In addition, “more monetary debasement may be needed to ...
Post a Comment
Read more

Economists Discuss Russia, China Potentially Developing Gold-Backed Currency That Could Undermine US Dollar

Economists have weighed in on reports that China and Russia may be developing a new gold-backed currency that could undermine the U.S. dollar’s status as the world’s primary reserve currency. Russia and China May Be Developing Gold-Backed Currency Several experts have shared their views on Russia and China potentially creating a new gold-baked currency, Fox Business reported Saturday, emphasizing that China has been buying up huge quantities of gold while Russia was forced off the U.S. dollar due to sanctions imposed on the country following its invasion of Ukraine. The news outlet noted that some experts have cautioned that these moves, along with the closer relationship that has developed between Moscow and Beijing, point to the likelihood of China attempting to launch a gold-backed currency. However, neither Russia nor China has officially confirmed plans for such a currency. Craig Singleton, senior fellow at the Foundation for Defense of Democracies and a former U.S. diplomat,...
Post a Comment
Read more