Cryptocurrency Prices Drop as Market Faces Red Day
Release: 2024/08/29 03:05 Reading: 427
Cryptocurrency Prices Fall as Market Experiences a Red Day
The leading cryptocurrency has endured a difficult 24 hours, and altcoins continue to decline. Sales have accelerated once more. MATIC Coin has lost 11% after the latest POL Token news subsided. ETH is currently valued at $2,500. What are the current price predictions for Dogecoin, PEPE, and LUNA Coin? What should investors anticipate at this juncture?
Dogecoin (DOGE)
At the time of writing, the DOGE price was below $0.1. If the critical threshold cannot be regained, the price may fall to $0.093 in the coming hours. Earlier this month, the price briefly reached $0.081 but failed to exceed $0.115. This behavior is attributed to the extremely weak investor sentiment.
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Given Bitcoin's second test of $58,000 today, the current status of the DOGE chart is not unexpected. For a genuine recovery, BTC must close above $70,000, with $0.152 serving as support. At this time, there are no signals within the next few weeks that support this possibility.
PEPE Coin Chart
The price, which had risen to $0.00000979, is once again being dragged down by BTC. PEPE Coin is currently trading just above the $0.00000693 support level, finding buyers at $0.00000761. If BTC continues to fall and tests below $55,000, we could witness a new wave of panic selling among altcoins. The first warning sign would be at $0.00000469. In the event of a greater drop, losses could reach $0.00000261.
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Investors anticipating a rise will experience increased appetite above $0.00000904. The cautious stance of investors who remain skeptical of BTC is an impediment to sustaining such a rise. Indeed, the failed attempt on August 24 corroborates this view.
LUNA Coin Predictions
Investors expecting fluctuations akin to those observed on March 5 and 25 have been holding LUNA Coin for an extended period. Throughout the year, we have emphasized the significance of the $0.55 support level, which was finally breached in June. Subsequently, we have witnessed significantly lower lows. The LUNA Coin price is currently finding buyers at $0.354.
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If BTC declines, the $0.25 ATL level remains a likely target.
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