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Crypto Trader Warns of Downtrend for Dogecoin and Chainlink, Says Bitcoin Experiencing ‘Strong Rejection’

August 10, 2023
in Altcoin
Reading Time: 2 mins read
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A broadly adopted crypto analyst is updating his followers on the state of Dogecoin (DOGE), Chainlink (LINK) and Bitcoin (BTC).

Pseudonymous crypto dealer Rekt Capital tells his 349,600 Twitter followers that the Shiba Inu (SHIB) rival DOGE may see a draw back continuation shifting ahead.

“Arguments might be made for DOGE retracing into the decrease areas of the downtrending channel

Till DOGE is ready to Weekly Shut above the Channel Prime, worth may see draw back continuation as per earlier durations (orange).”

Supply: Rekt Capital/X

DOGE is value $0.076 at time of writing.

Diving into the blockchain oracle Chainlink, the analyst says LINK is making an attempt to interrupt out towards the downtrend, however seems to be assembly resistance for now.

“LINK is difficult the Macro Downtrend for a breakout for the second time in weeks

Nevertheless, LINK seems to be rejecting from right here for now.”

Supply: Rekt Capital/X

At time of writing, LINK is buying and selling for $7.67, down 2.3% within the final 24 hours.

Taking a look at king crypto BTC, Rekt Capital wonders if Bitcoin can maintain its present worth ranges till the tip of the week.

“BTC nonetheless holding simply above the ~$29,250 degree after experiencing a powerful rejection most lately

Can BTC maintain right here till the tip of the week, in time for the Weekly Shut?”

Supply: Rekt Capital/X

BTC is at present buying and selling for $29,476.

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Disclaimer: Opinions expressed at The Each day Hodl should not funding recommendation. Traders ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital belongings. Please be suggested that your transfers and trades are at your individual danger, and any loses it’s possible you’ll incur are your duty. The Each day Hodl doesn’t advocate the shopping for or promoting of any cryptocurrencies or digital belongings, neither is The Each day Hodl an funding advisor. Please observe that The Each day Hodl participates in online marketing.

Featured Picture: Shutterstock/Photobank.kiev.ua

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Tags: BitcoinChainlinkCryptoDogecoinDowntrendExperiencingRejectionStrongTraderWarns
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