A widely followed crypto analyst is updating his followers on the state of Dogecoin (DOGE), Chainlink (LINK) and Bitcoin (BTC).
Pseudonymous crypto trader Rekt Capital tells his 349,600 Twitter followers that the Shiba Inu (SHIB) rival DOGE could see a downside continuation moving forward.
“Arguments can be made for DOGE retracing into the lower regions of the downtrending channel
Until DOGE is able to Weekly Close above the Channel Top, price could see downside continuation as per previous periods (orange).”
DOGE is worth $0.076 at time of writing.
Diving into the blockchain oracle Chainlink, the analyst says LINK is trying to break out against the downtrend, but appears to be meeting resistance for now.
“LINK is challenging the Macro Downtrend for a breakout for the second time in weeks
However, LINK appears to be rejecting from here for now.”
At time of writing, LINK is trading for $7.67, down 2.3% in the last 24 hours.
Looking at king crypto BTC, Rekt Capital wonders if Bitcoin can hold its current price levels until the end of the week.
“BTC still holding just above the ~$29,250 level after experiencing a strong rejection most recently
Can BTC hold here until the end of the week, in time for the Weekly Close?”
BTC is currently trading for $29,476.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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