The week is about to close bearish for the cryptocurrency market as all the top 10 coins are in the red zone.
Top coins by CoinMarketCap
DOGE/USD
DOGE has followed the drop of other coins, going down by 11% over the last week.
DOGE/USD chart by TradingView
On the weekly chart, DOGE has almost absorbed the last bullish candle, which means that bears are about to seize the initiative.
If the candle closes below the $0.07 mark, it may cause a sharp drop to the next level at $0.06. Such a scenario is relevant until the end of the upcoming week.
DOGE is trading at $0.06887 at press time.
SHIB/USD
SHIB has lost more value than DOGE as its price has dropped by 14.84% over the week.
SHIB/USD chart by TradingView
Despite the sharp fall, SHIB has bounced off the mirror level at $0.00001297. If nothing crucial changes by the end of the day, one can expect a local correction to the $0.000014 zone soon.
SHIB is trading at $0.00001318 at press time.
Any financial and market information given on U.Today is written for informational purposes only. Conduct your own research by contacting financial experts before making any investment decisions.
Recommended Content
Editors’ Picks
Ripple on-chain metrics show bullish signs amidst legal struggle with SEC, XRP eyes recovery
Ripple made a comeback above $0.48 on Tuesday and hovers above that level in Wednesday’s European session. Ripple on-chain metrics such as transaction volume and Network Realized Profit/Loss have turned bullish, supporting a recovery in the altcoin.
Bitcoin price falls amidst German government transfers, miners activity
Bitcoin (BTC) extends correction on Wednesday and hovers around $61,000 after finding resistance near the $64,000 level on Monday. Recent on-chain data indicates heightened selling activity from Bitcoin miners early in the week.
Crypto Today: Bitcoin erases gains from end of June, Ethereum declines while Ripple holds
Bitcoin wipes out gains from the last week of June and falls below $60,000 on Wednesday. Ethereum and top altcoins ranked by market capitalization erased gains as the inflation outlook worsened. Ripple holds on to recent gains and hovers above $0.48 on Wednesday.
Three reasons why altcoins could shake off losses this week
On-chain data from Santiment shows that altcoins are currently in the opportunity zone, or generating buy signals. The top three altcoins in the buy zone are Basic Attention Token (BAT), Chromia (CHR), and Highstreet (HIGH), per Santiment.
Bitcoin: BTC price correction could end in July, according to seasonal data
Bitcoin (BTC) price appears poised for a decline this week, influenced by slight outflows in US spot ETFs, selling activity among BTC miners, and a combined transfer of 4,690.28 BTC to centralized exchanges by the US and German governments.