Press Release
ETH Eyes $4,000, DOGE Retests Critical Levels, As This New Meme Coin Prepares for Launch
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- ETH consolidating above key support, eyeing $4,000 resistance.
- DOGE in volatile retest of $0.20, targeting $0.20-$0.27 range.
- NuggetRush meme coin eyes DEX listings after the successful presale.
Elite crypto analyst Rekt Capital often shares valuable insights on popular altcoins, and most recently, he provided updates on Ethereum (ETH) and Dogecoin (DOGE). These two coins have seen some decent price movements, with ETH up 8% and DOGE up 11% this week, respectively.
At the same time, after its successful crypto presale, new meme coin NuggetRush is eying DEX listings and an official launch later this month.
Ethereum: Consolidating at Key Support, Eyeing $4,000 Resistance
Ethereum is currently trading around $3,600, consolidating just above the orange area of support. Rekt Capital noted that for a few weeks now, ETH has been holding this support level, with downside wicks forming higher lows.
The analyst highlighted that ETH needs to continue holding this support area if it is to remain positioned for potential upside towards the green ~$4,000 resistance level.
Rekt Capital explained that the downside wicks forming higher lows are an encouraging sign, as is the multi-week price stability in this region. However, the analyst stated that at some point, ETH needs to produce trend continuation from this support level.
The orange-circled region represents a bargain-buying scenario that may not come if ETH continues to exhibit this price-strength confirmation at the orange-boxed support.
Moreover, Rekt Capital noted that the monthly timeframe depicts this support area as a crucial level. In the past, this orange area acted as resistance in mid-2021, mid-2022, and even earlier this year.
Now, ETH is in the process of retesting this area as new support for the first time, arguably ever, as the coin previously broke beyond this resistance level. The analyst stated that continued stability in this support area should see ETH revisit the green ~$4,000 resistance.
Dogecoin: Volatile Retest of $0.20 Support, Targeting Macro Range
Dogecoin is up 11% this week and is currently trading just around $0.2, with DOGE Day now just around 10 days away. Rekt Capital’s analysis suggests that DOGE is technically in the process of a volatile monthly retest, following its successful March monthly close above the red ~$0.20 resistance.
The analyst explained that such volatile retesting is not out of the ordinary, especially when looking at DOGE’s price action in mid-2021 (green circle). Rekt Capital noted that DOGE is generally trying to break back into the red-red macro range (~$0.20-$0.27), and this retest is a key step in that process.
Rekt Capital also highlighted the importance of the weekly bull flag retest for DOGE’s potential to successfully retest the ~$0.20 level as support on the monthly timeframe. The analyst stated that the orange bull flag that DOGE broke from a few weeks ago has been successfully retested last week.
This retesting behavior needs to continue for DOGE to have a chance at successfully retesting the ~$0.20 level as support on the monthly.
For the time being, the analyst noted that the $0.20 level is acting as resistance on the weekly timeframe, but it’s too early in the week to say if this is conclusive.
Effectively, DOGE is now bouncing between the bull flag top support and the $0.20 resistance, and as long as the bull flag top retest continues to be successful, the $0.20 resistance should be reclaimed just in time for the new monthly close above it.
NuggetRush: A New Meme Coin with P2E utility
Alongside the updates on Ethereum and Dogecoin, a new meme coin, NuggetRush (NUGX), has caught our attention as well. After its successful crypto presale, which saw the sale of 270 NUGX tokens and raised $3.8 million, the project is now eyeing DEX listings later this month. It’s worth nothing that you can still buy this coin at the listing price of $0.02 via their website.
NuggetRush is a play-to-earn (P2E) game that combines the fun and viral nature of a meme coin with innovative features. The NUGX token is the native utility and governance ERC-20 coin of the NuggetRush platform, powering all activities within the ecosystem, including trading and staking. The token is deflationary, with its supply decreasing over time, potentially supporting its price.
The gameplay of NuggetRush revolves around managing a mining operation in a virtual landscape. Players engage in activities such as digging shafts, setting up tunnels, and operating machinery to extract valuable minerals and assets.
The game features immersive mechanics, engaging progression systems, and interactive gameplay that require strategic decision-making and resource management. Players can collaborate with others, form partnerships, or join mining guilds for increased efficiency and shared rewards.
Conclusion
The crypto market has been dynamic as we approach Bitcoin halving later this month, with Ethereum and Dogecoin showcasing their resilience and potential for further growth. Rekt Capital’s insights on these two coins suggest that they are navigating crucial technical levels, with the possibility of continued upside momentum.
Meanwhile, the new meme coin NuggetRush has generated some interest in the meme coin and gaming community, with its successful presale and upcoming DEX listings.
While the project aims to offer a more rewarding and engaging gaming experience compared to traditional meme coins, investors should approach it with realistic expectations since this is a meme coin in early stages, and we all know how risky those can be. NUGX’s initial phase looks potentially promising though.
Disclaimer: This is a paid post and should not be treated as news/advice.
