Bitcoin (BTC) continued its losses throughout 2022. However, Dogecoin (DOGE) suffered less from the FTX collapse than other altcoin projects. So how will these two major cryptocurrencies perform in the coming period? Here are the analyst views and charts…
Bitcoin has regained the critical $18,000 situation. However, experts said that small interests may be influential for possible rally. However, Bitcoin failed to drop its position below $17,000. Machine-collecting-based algorithms at PricePredictions show that the moving average (MA), relative strength index (RSI), moving average convergence divergence (MACD), Bollinger Bands (BB), among others, will extend Bitcoin’s bearish sentiments until January 1, 2023. he predicted.
According to the predictions, Bitcoin will see the process at $ 16,722 on the first day of 2023. Following the price correction, the summary of Bitcoin one-day technical analysis showed the decline. Analysis suggests ‘sell’ at 16, while moving averages point to strong selling at 13. Cryptocurrency analyst Jim Wycoff pointed out the ongoing correction. He also stated that Bitcoin bulls have managed to maintain a short-term technical advantage. The analyst also said:
Bitcoin-US dollar prices are lower in early US trading on Friday, with a routine downside correction late this week after hitting a five-week high on Wednesday. Prices are still in an uptrend on the daily chart. Bulls still generally have slight short-term technical advantage
Machine learning algorithms on crypto tracking platform PricePredictions predicted that Dogecoin would trade from $0.079835 on January 1, 2023. Taking into account technical indicators such as moving averages (MA), relative strength index (RSI), moving average convergence divergence (MACD), Bollinger Bands (BB) and others, the platform pointed to a 3.49% drop from Dogecoin price. In particular, the precision mentioned in the 1-day indicators on TradingView is also largely negative. Oscillators pointed to ‘neutral’ at 8 and moving averages to ‘strong sell’ at 12. Summary is currently in the ‘sell’ zone at 14.
The bearish estimates came after around $1 million in whale processes at a price level of $0.087. On the other hand, the crypto community on CoinMarketCap announced that at the beginning of the year, DOGE was bullish on its price. The collective votes of its members showed that the price of Dogecoin on December 31, 2022 will be at the level of $ 0.098. With a market cap of $10.98 billion, Dogecoin holds the eighth-largest cryptocurrency position amid the top 100 cryptocurrencies.