{"id":13777,"date":"2022-08-27T15:48:53","date_gmt":"2022-08-27T15:48:53","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/doge-avax-fall-to-1-month-lows-on-saturday-market-updates-bitcoin-news\/"},"modified":"2022-08-27T15:48:53","modified_gmt":"2022-08-27T15:48:53","slug":"doge-avax-fall-to-1-month-lows-on-saturday-market-updates-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/doge-avax-fall-to-1-month-lows-on-saturday-market-updates-bitcoin-news\/","title":{"rendered":"DOGE, AVAX Fall to 1-Month Lows on Saturday \u2013 Market Updates Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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Dogecoin fell to a one-month low to start the weekend, as a red wave swept through cryptocurrency markets. Avalanche also dropped to a four-week low on Saturday, as the token hit a key support point. As of writing, the global crypto market cap is trading 5.46% lower.<\/strong><\/p>\n

Dogecoin (DOGE)<\/h2>\n

Dogecoin (DOGE) was a notable mover during Saturday\u2019s session, as the meme coin fell to its lowest level since late July.<\/p>\n

The token dropped to an intraday low of $0.06261 to start the weekend, which is its lowest point since July 27.<\/p>\n

As a result of the sell-off, DOGE\/USD fell below its long-term support level at $0.0650, which comes two days after trading at a ceiling of $0.0730.<\/p>\n

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DOGE\/USD \u2013 Daily Chart<\/figcaption><\/figure>\n

As seen on the chart, there was another technical occurrence which triggered today\u2019s decline \u2014 the downward cross between the 10-day (red) and 25-day (blue) moving averages (MA).<\/p>\n

This appears to have been the signal bears were waiting for before reentering the market, and once it took place, floodgates opened.<\/p>\n

As of writing, Saturday\u2019s bleed has somewhat eased, and this comes as the 14-day relative strength index (RSI) found a floor at the 40.00 mark.<\/p>\n

Should this point hold firm, then we may see DOGE consolidate, and potentially rebound in coming days.<\/p>\n

Avalanche (AVAX)<\/h2>\n

Like DOGE, Avalanche (AVAX) fell to a four-week low to start the weekend, as the price of the token declined by nearly 10%.<\/p>\n

Following a peak of $23.17 on Friday, AVAX\/USD slipped to an intraday bottom of $20.08 earlier in the day.<\/p>\n

This, as with dogecoin, is the weakest level the token has hit since July 27, and comes following a slight breakout of support.<\/p>\n

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AVAX\/USD \u2013 Daily Chart<\/figcaption><\/figure>\n

The aforementioned floor was at the $20.60 level, however bears attempted to take AVAX to a lower support of $19.50.<\/p>\n

Bulls have so far rejected this, with avalanche now trading at $20.56, after the RSI found its own floor at 34.00.<\/p>\n

However, sentiment still remains bearish, with a strong possibility of a drop below $20.00 this weekend.<\/p>\n

Register your email here to get weekly price analysis updates sent to your inbox:<\/em><\/p>\n

Could now be an ideal time to buy the avalanche dip? Let us know your thoughts in the comments.<\/strong><\/em><\/p>\n

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\nEliman Dambell <\/h6>\n

\nEliman brings a eclectic point of view to market analysis, having worked as a brokerage director, retail trading educator, and market commentator in Crypto, Stocks and FX.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons, viewimage \/ Shutterstock.com<\/em><\/p>\n

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