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Dogecoin (DOGE) Lands on Crucial Support, US Dollar Index (DXY) Signaling Bitcoin Surge, Ethereum (ETH) Shows Worst Top 10 Performance

Dogecoin (DOGE) Lands on Crucial Support, US Dollar Index (DXY) Signaling Bitcoin Surge, Ethereum (ETH) Shows Worst Top 10 Performance
The current analysis indicates that Dogecoin is at a critical support level and may experience either a significant rebound or a further breakdown. If DOGE maintains its position above the 200 EMA, a recovery is possible, with potential resistance levels at $0.34 and a return to the $0.36-$0.38 range. However, if Dogecoin drops below the 200 EMA, it could lead to a more thorough correction, potentially bringing the price down to $0.22 or even $0.18. The U.S. Dollar Index (DXY) is currently trading with volatility, which historically has an inverse relationship with Bitcoin. If DXY weakens, Bitcoin may gain momentum and potentially break out toward $100,000, but if DXY recovers and breaks above 109.50, Bitcoin may face short-term pressure and decline. Ethereum is performing worse than other major cryptocurrencies, experiencing a significant decline and struggling to find support. If it continues to drop below $3,000, it may reach $2,300. However, if Ethereum recovers $3,000 and rises above $3,200, a relief rally is possible.

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