“DOGE Prepares for Significant Bearish Breakout as Price Prediction Targets Key Support Zone”
Dogecoin (DOGE) has experienced a pullback after attempting to surpass the $0.076 level earlier in the day. The cryptocurrency has been affected by a spike in the US dollar, higher yields, and a downturn in US stocks as Federal Reserve Chair Jerome Powell warned that interest rates could rise to combat inflationary pressure. The price of DOGE was last seen around $0.074, having found support at weekend lows in the $0.072 range. The transfer of 67.5 million DOGE, worth around $5m, from Binance to an unknown wallet also failed to boost optimism in the DOGE market. A cryptocurrency bulls will hope DOGE can find support above the $0.072 area, while a break below this level would open the door to a fresh drop back towards late 2022 lows in the $0.066 range. Meanwhile, investors looking for alternative cryptocurrencies may want to consider presale tokens that have a strong risk-reward ratio. Cryptonews has compiled a list of the top 15 cryptocurrencies for 2023 as analyzed by its Industry Talk team.
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