As the cryptocurrency market shows signs of weakness, a top cryptocurrency trader is changing his mind on major digital asset Bitcoin (BTC), top copywriter Ethereum (ETH) and popular meme token DOGE.
The currency (BTC)
Bitcoin failed to break above the $43,500 level and fell below $42,000 before recovering. At the time of writing, BTC was trading at $42,402, down 1% in the last 24 hours. Support stands at $42,000, resistance at $43,500.
In an effort to maintain bullish momentum, anonymous crypto expert Rekt Capital told his 295,000 Twitter followers that bitcoin must reclaim key price areas by the end of the week.
According to Rekt, bitcoin broke out of a huge reversal pattern during the week and is now retesting previous resistance as support.
He said B TC finally got rid of the ascending triangle. To fully verify the breakthrough, BTC is currently retesting the rising triangle top as a new support. A second interview is currently under way.
The etheric fang (ETH)
Ethereum failed to surge above $3,300. Shanzhai coins started falling below $3,250. ETH was trading at $3,215 at the time of writing, down 1.6% in the past 24 hours.
The next major support level is around $3,150, below which it could fall to $3,050. On the plus side, the bulls hold the short-term barrier at 3,250 in check. The main resistance is at 3,300, above which prices could start rising again
After failing to break its $3,440 monthly resistance level, leading smart contract platform Ethereum (ETH) may retest the $3,000 range, according to Rekt Capital.
ETH rejected blue resistance at $3,440 per month. As a result, a $3,000 (black) revisit is now available.
It is worth reiterating that the wick appears when black is retested while sinking. As a result, if ETH falls below black, it may enter the green upper low.
The dog dog currency (the DOGE)
DOGE fell below $0.150. At the time of writing, it was $0.1473 and seems likely to approach the $0.142 level. If the bearish trend continues, prices could also fall to support at $0.135.
Finally, Rekt Capital touched on dogecoin, predicting that dog-themed digital assets will soar to around $0.28.
"DOGE is still trying to use the low $0.14 range as support," the note (green) said. If [that range] is reclaimed for support, DOGE will validate back to the +44% range.