The post Bitcoin rejection threatens to send Dogecoin Price appeared on BitcoinEthereumNews.com.

SPONSORED POST* Bitcoin’s recent rejection at $70,000 has created a negative market sentiment, affecting even top names like Dogecoin (DOGE). Following its rejection at the $0.09149 mark, Dogecoin price is now pushing toward a key trendline. However, it’s not all bearish news. Despite the downward trend affecting Dogecoin and other cryptocurrencies, ETFSwap (ETFS), a new DeFi token, is defying expectations and gaining traction. Currently, in stage 4 of its presale, this Bitcoin rival has already seen its price increase by 200%. Dogecoin (DOGE) Faces A Critical Juncture After Rejection At $0.09149 Bitcoin’s failure to break above the $70,000 resistance has led to a pullback, with the cryptocurrency trading around $68,000 at the time of writing. Following this Bitcoin rejection, Dogecoin also faced major rejection at $0.09149. On the 4-hour chart, the token has gained momentum, recently surpassing the 100-day Simple Moving Average (SMA) and approaching a bearish trendline.  This price action indicates increasing positive pressure and market sentiment, suggesting a potential breakout if the trendline is breached. Consequently, on the 1-day chart, Dogecoin (DOGE) is exhibiting upward momentum as it aims to break above the bearish trendline and approach the 100-day SMA.  If Dogecoin can break through and maintain its position above this trendline, it may signal a bullish continuation, potentially leading to price targets around $0.1293. A successful breach of this level could open the door for further increases, with the price possibly testing the $0.1491 mark and exploring even higher resistance zones.  Conversely, if Dogecoin (DOGE) fails to hold above this level, it may drop to the $0.09149 support range. A break below this support could lead to additional declines, with the price potentially testing the $0.07456 mark and other lower support levels. ETFSwap (ETFS): A Winning Formula In A Bearish Market Despite the prevailing bearish market sentiment…

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Filed under: News - @ September 15, 2024 11:16 pm