Dogecoin (DOGE)
Dogecoin (DOGE) experienced a significant increase in price during Friday’s trading session, reaching its highest point in months. This surge was a result of a recent tweet by Elon Musk.
- DOGE/USD hit a low of $0.06855 on Thursday and then rose to an intraday high of $0.07639 today.
- This is the strongest level that dogecoin has reached since May 6, when it exceeded $0.0800.
- The breakout of the 62.00 level on the relative strength index (RSI) played a role in today’s movement.
- The RSI is currently at 64.24, and buyers may target a resistance point of 66.00.
- DOGE is currently trading at $0.074 after a slight decrease in momentum.
Polkadot (DOT)
Polkadot (DOT) also experienced a rally on Friday, with the token’s price increasing by up to 7%.
- DOT/USD reached a high of $5.69 today, following a previous low of $5.15.
- This is the highest level that polkadot has reached since last Friday, when it reached a two-month high of $5.74.
- The price of DOT decreased slightly after failing to surpass a key resistance level of $6.00.
- If DOT can break beyond the 60.00 mark, it is likely to climb above $6.00.
- Currently, the indicator is approaching this point.
Hot Take: The recent price increases of DOGE and DOT demonstrate the influence of external factors, such as Elon Musk’s tweets, on the cryptocurrency market. While these surges may present opportunities for traders, it is important to carefully analyze the market and consider potential risks before making investment decisions.
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