Last week, the cryptocurrency market continued to portray a 'roller coaster market,' with bullish strength showing in certain coins. Ethereum #ETH once again powered up, reaching a historical high, while Bitcoin #BTC showed a slight pullback, leading to subtle differentiation in market dynamics. Meanwhile, Dogecoin #Dogecoin also began to quietly brew major movements, with technicals suggesting a potential 30% upside in the short term. Today, let's sort through and see the potential trends for these two popular coins in the coming weeks.
Ethereum (ETH) is pushing for new highs, with bullish strength dominating.
Ethereum's price has recently shown strength, having opened a new round of upward movement above $4,650. In contrast, Bitcoin has slightly pulled back, making ETH the focus of the bulls.
From a technical standpoint, ETH is currently solidifying its gains and may find buying support near the $4,550 support level. In the short term, as long as the closing price does not fall below $4,550, the bulls still have a chance to push prices higher.
Recent High: $4,956.
Key Support: $4,550.
Potential Resistance: $4,820, $4,850, $4,920. If it breaks above $4,920, it may challenge $4,950–$5,000 in the short term, or even test the $5,150 mark 💪.
The price previously surged from a low of $4,207 to a high of $4,956, and has now retraced to the 23.6% Fibonacci retracement level of the ascending trend channel. This indicates that while bullish strength has digested, the overall trend still leans towards upward movement.
Technical indicators also support the bullish perspective:
MACD: Bullish momentum slightly reduced on the hourly chart but remains in positive territory.
RSI: Above the 50 area, indicating buyer strength is dominant.
Moving Averages: The price is firmly above the 100-hour SMA.
Overall, Ethereum still has momentum in the short term. If support holds, bulls may continue to push the price toward $5,000 or even higher.
Dogecoin (DOGE): Triangle pattern indicates a big opportunity.
Meanwhile, DOGE is also gaining strength. Over the past few weeks, the price of Dogecoin has fluctuated, dipping from $0.24 to $0.21, with market sentiment appearing somewhat indecisive. Last Friday, influenced by Powell's speech, DOGE briefly rebounded above $0.24, but the latest trend shows that the rise of this meme coin may just be beginning.
Cryptocurrency analyst Ali Martinez pointed out that DOGE has formed a symmetrical triangle pattern on the 4-hour chart.
The symmetrical triangle indicates that prices are continuously converging, ultimately leading to a breakout above or below the trend line. Combined with the previous upward trend, this pattern is more likely to be a continuation breakout pattern, which means that after breaking above the trend line, further upward movement is expected.
Target Price: $0.3 (about 30% increase from the current price).
Breakout Confirmation: At least two candle lines need to close above the upper boundary of the triangle.
In other words, Dogecoin may see a nice upward trend in the short term, but this is contingent on the market confirming a breakout signal; otherwise, attention must remain on support levels to prevent a pullback.
Dogecoin DOGE: The last dip before the breakout!
As of the time of publication, DOGE's price is approximately $0.2315, having slightly decreased by 2.24% in the past 24 hours, indicating a correction phase while gathering energy for a breakout.
ETH and DOGE: Short-term strategies and market linkage.
Looking at ETH and DOGE together, several interesting phenomena are worth noting:
Trend Differentiation.
ETH bulls dominate, price reaches an all-time high.
DOGE oscillates and consolidates, but charts show upward potential.
Clear support and resistance.
ETH: Support $4,550–$4,580, Resistance $4,820–$4,920.
DOGE: Support around $0.21–$0.22, Resistance at $0.24–$0.25. After a breakout, the target is $0.3.
Market Sentiment.
BTC's volatility provides background capital inflow.
ETH's strength may drive enthusiasm for altcoins.
DOGE's meme effect + technical breakout signals may become a short-term hotspot.
For traders, this means they can focus on the support range of ETH for swing trades, as bulls remain dominant, while also observing DOGE's breakout signals. Once a breakout is confirmed, moderate participation in short-term rebounds can be considered.
Summary
Last week, the cryptocurrency market was volatile:
ETH reached a new historical high, with solid support, and is expected to challenge the $5,000 mark in the short term.
DOGE has formed a symmetrical triangle, and if it breaks above the trend line, it is expected to rise by 30%.
BTC's volatility provides market reference, and the overall market remains bullish.
💡 Key Takeaway:
ETH bulls still dominate, focusing on the $4,550–$4,580 support; DOGE needs to wait for confirmation of the breakout above the triangle's upper boundary. Market opportunities and risks coexist; short-term operations should remain flexible, avoiding chasing highs and cutting losses.
In summary, last week the cryptocurrency market displayed a pattern of 'the leader pushing high while meme coins gather momentum.' Bullish strength can be expected, but maintaining rationality and risk awareness is key 🚀🐶.
✍️ Remember to DYOR, manage risk well, and wish everyone smooth sailing in the cryptocurrency world! 🌊
Many understand the trend, but few follow the right rhythm.
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