Cryptocurrencies Price Prediction: Luna, Dogecoin & Solana — Asian Wrap 11 July
|Bitcoin’s stabilization could be key for LUNA price to trigger a move to $3.5
LUNA price shows the formation of a bottom reversal setup that could trigger a bullish move. Investors need to pay close attention to the immediate support level, a breakdown of which could result in further descent.
LUNA price set a swing low at $1.94 on June 8 after crashing 89% since May 31. This move was the last leg of the downswing and set a base for the triple tap setup. The technical formation contains three distinctive swing lows, with the central one deeper than the rest. The first and the third swing points are often along the same trend line.
Despite crypto's bearish backdrop this is where you can buy Dogecoin price for a 90% gain
Dogecoin price shows the possibility of a quick retracement to significant support levels that could, from a macro perspective, kick-start an upswing. Investors need to pay close attention to this downswing as it could potentially trigger another recovery rally.
Dogecoin price rallied roughly 60% between June 18 and June 26 and set a range, extending from $0.049 to $0.078. As bullish momentum exhausted, DOGE retraced 20% and bounced off the midpoint at $0.063.
If history repeats itself, this is where Solana’s SOL price could go
Solana price has been highly volatile after the crash in the first half of June 2022. As a result, SOL has seen massive recovery rallies that pushed it higher. However, the bounce seems to be facing a hurdle that is subduing it and preventing it from moving higher.
Solana price rallied roughly 60% between June 18 and June 24 to set a swing high at $42.89. While this move was impressive, it faced a limitation and its upside was capped due to the presence of the 8-day Exponential Moving Average (EMA).
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.