Trading | 6 months ago
In the Daily Crypto Analysis segment, we do the in-depth cryptocurrency market analysis and provide the insights, and unbiased information on leading cryptocurrencies like Bitcoin, Ethereum and Dogecoin.
From last three days Bitcoin price is trading near the $55,000 support zone against the US dollar. As a matter of fact, both the $55,000 and $54,000 price levels are important for Bitcoin in order to move into either the positive zone or the negative zone.
If Bitcoin breaks the $57,500 resistance zone, then only one should look for buying opportunities in Bitcoin. At the moment, one should avoid taking any big positions in Bitcoin.
Recently many big institutional investors as well as high net worth individuals have accumulated the massive chunks of Ethereum. As a result of these accumulations, Ethereum gained 7.8% against the US dollar on Tuesday.
Ethereum is the second largest cryptocurrency by market capitalization. Ethereum Continues to capture some serious gains against the Bitcoin. Therefore, one must look for buying opportunities in Ethereum.
In the last seven days, Dogecoin have skyrocketed by gaining more than 480%. Many investors are dumping money in the Dogecoin. After this massive rally, the market capitalization of Dogecoin has reached $50 billion for the first time since its inception.
However, on Tuesday, Dogecoin fell by 22.65% as a result of the price correction. Dogecoin is set to become a legitimate investment. Today at the time of writing, Dogecoin is up by 4.3%. One must look for buying opportunities in Dogecoin.
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