Ethereum, Dogecoin, FTX Token Price Movement Analysis for 29th August, 2021

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Bitcoin and Ethereum have slightly reversed their gains in the last 24 hours. The movement of most altcoins followed the same pattern. Dogecoin fell by 2.2 percent, edging closer to its $0.273 price floor. Because of the 2% drop since yesterday, FTX Token has begun to trade below its $49.24 support level.

Ethereum (ETH)

Ethereum was trading at $3,208.36, down 0.9 percent. The alt-king was trading just below the $3235.61 support level, and a drop from here would send prices down to the $3083 price floor.

The Relative Strength Index dipped slightly below 50, indicating a decline in buying strength. MACD’s green bars on the histogram have been decreasing in recent trading sessions.

Finally, Awesome Oscillator detected modest red signal bars, indicating a deterioration in the recent rebound. If the price of ETH reverses, the initial resistance was at $3235.61, followed by $3350.87.

 

Dogecoin (DOGE)

Ethereum, Dogecoin and FTX Token Price Analysis: 29 August

DOGE/USD, TradingView

Dogecoin has dropped by 2.2 percent in the last 24 hours and is now worth $0.281. The token is eyeing its immediate support level of $0.273, and if the coin continues to fall, it might end up at $0.240. According to the indications, the market’s bullish strength has faded.

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Profit-taking has pushed the Relative Strength Index below the midpoint. The number of green bars on the MACD histogram has decreased in recent trading sessions.

Bollinger Bands indicated confined and range constrained movement as the bands were tightened. The projected trading range was between $0.300 and $0.273. On the other hand, if DOGE recovers, it will face resistance at $0.320, followed by $0.347.

 

FTX Token (FTT)

Ethereum, Dogecoin and FTX Token Price Analysis: 29 August

FTT/USD, TradingView

FTT was trading at $47.81 after falling 2% on the previous day. Just 24 hours ago, the currency fell below the $49.24 support level. In the event of a downward trend, additional support lines were located at $43.72 and $34.18. According to the metrics, FTT’s bullish momentum seems to have come to a standstill.

The Relative Strength Index went below 50, indicating a decline in buying strength. As bullish vigour has waned in recent trading sessions, MACD has displayed fewer green bars on the histogram.

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Chaikin Money Flow, on the other hand, remained above the half-line and in the positive zone as capital inflows outweighed outflows. If FTT manages to topple over the $49.24 resistance mark and trade above it for longer than just a few sessions, it could retest the $53.41 price ceiling.

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