Ethereum, Dogecoin Price Analysis: July 29, 2021

Finders Experts Predict Ethereum Will hit 4.5K This Year 18K in 2025
Finders Experts Predict Ethereum Will hit 4.5K This Year 18K in 2025

Ethereum, Dogecoin Price Analysis: July 29, 2021 – The cryptocurrency market is slightly bullish on Thursday, with assets posting minor gains, according to data by CoinGecko. Ripple is the best-performing cryptocurrency, following the massive 20% gain on Wednesday. However, a retreat is underway, with XRP remaining pivotal at $0.7.

Bitcoin spiked above $40,000 after retesting support at $36,000 on Tuesday. The area above $40,000 was tested, but a break above $41,000 remained aloof. Meanwhile, BTC is back to trading slightly under $40,000, but bulls are not ready to give up the mission to lift to $50,000.


Ethereum price is up 33% from the support at $1,730. This buyer congestion zone was crucial in waning off the selloff in July. Moreover, bulls were energized for the uptrend that recently touched $2,400.

Despite the impressive recovery, Ethereum did not make it above $2,400. A mid-week correction saw Ether retest $2,200 support, and by extension, the ascending parallel channel’s lower boundary.

At the time of writing, Ethereum is trading marginally under $2,300. The trend is generally upward, but buyers seem to be facing a challenging task gaining ground to $2,400. The Moving Average Convergence Divergence (MACD) indicator has a bearish impulse, suggesting that the struggle will last longer. A break under the channel’s lower edge may also trigger declines toward $2,000.

ETH/USD four-hour chart

Ethereum Price Analysis
ETH/USD price chart by Tradingview


Dogecoin bulls are working tooth and nail to keep the price above $0.2. The battle comes after the upswing from earlier in the week failed to sustain above $0.23, leaving the $0.24 key level untested.

An ascending parallel channel holds the meme coin in place, ensuring that losses to no extend beneath $0.2. The 50 Simple Moving Average (SMA) reinforces this same anchor zone.

On the upside, the main goal is to secure the position above the middle boundary of the channel. However, the 200 SMA on the four-hour must come down to pave the way for the bulls. A break above $0.24 may trigger massive gains, bolstering Dogecoin to $0.3.

DOGE/USD four-hour chart

Dogecoin Price Analysis
DOGE/USD price chart by Tradingview

Realize that the MACD has a vivid bearish impulse that may turn into a formidable bearish signal in the short term. Therefore, losses will likely increase, sending DOGE down the rabbit hole.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Financial Watch. Every investment and trading move involves risk. You should conduct your own research when making a decision.

About Sam Gabriel 1699 Articles
Samson Gabriel a graduate of mass communication from Auchi Polytechnic, he is a passionate writer with experience in radio scrip writing. He brings his experience from the broadcast media into play here as he continues to enjoy his passion as a journalist. He can be contacted via whats-app on: +234701105670

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