Bitcoin price is bearish, Dogecoin faces resistance, Solana potential for recovery

From Investing.com

September 6, 2024 00:00:20 AM:

Bitcoin’s price falls below the 200-day EMA, indicating a bearish trend with a descending price channel. Lower highs and lows suggest continued pressure. Support at $53,000 may halt decline, but breaking below could test $50,000. Declining volume shows lack of buying interest, making it harder to reverse the trend.

Dogecoin struggles below $0.1, facing strong resistance and psychological barriers. Continuous downtrend with EMAs and low volume suggest vulnerability to further drops. Support potentially at $0.08. RSI near oversold but indicates room for downward movement before reversal. Overall bearish outlook due to lack of buyers.

Solana approaches potential bounce at critical support around $130. Recent price fall below EMAs signals bearish phase, but decreasing selling pressure and RSI near oversold suggest opportunity for recovery. Buyers could push price towards 50-day EMA around $145. Uncertainty remains, with recovery requiring increased buying interest and volume.

Read more at Investing.com: This Is Where Bitcoin (BTC) Price Is Heading, Dogecoin (DOGE) in Bad State, Solana (SOL) Bounce Is Incoming, Here’s Why By U.Today