On Tuesday morning, bitcoin was trading 0.54 percent lower. According to Coindesk, the price was at $61,725 per coin, while Ethereum and Dogecoin were trading around $4,364 (+0.89%) and 27.2 cents (-0.38 percent) per coin, respectively.
Dogecoin (DOGE) has to break through one important price level, according to a renowned crypto trader, before it can rise higher.
Altcoin Sherpa, a pseudonymous expert, assures his 141,200 Twitter followers that the meme crypto currency would likely consolidate until it breaks through its immediate resistance.
“DOGE: The real party happens when $0.35 gets broken. Until then, it just ranges.
DOGE finished the day at $0.271800, with a top of $0.285800 and a low of $0.263600. Despite encouraging developments in the ecosystem and the US dollar’s weakening, Dogecoin plummeted again on Monday and reversed its trajectory.
DOT, the native asset for the interoperable blockchain Polkadot, is also expected to increase in price, according to Altcoin Sherpa. For the time being, he expects the Department of Transportation to continue combining.
He says he isn’t sure if this will drop to the mid-$30s again before take-off. Polkadot has a lot of catalysts coming up, so it may just chop around here and then make significant jumps, he adds.
DOT is trading at $51.49 at time of writing and is up nearly 52% in the past month.
The Graph (GRT)
The Graph (GRT), a platform that indexes and organises blockchain data, is also being closely monitored by the anonymous analyst. GRT is flashing favourable signals for long-term holders, according to Altcoin Sherpa.
The analyst says, there appears to be considerable buildup on this coin. There’s a lot of volume coming in. I’d be willing to scale in here for a passive trade, he adds.
GRT is trading at $1.00 at time of writing and is up 35.7% in the past 30 days.