Bulls are in control following a correction to the upside from support. The daily M-formation is a compelling stricture that could pull in price for a restest of resistance. The price is establishing on the downside and the focus shifts to the upside. Bulls can target a bullish structure’s neckline from the daily chart as follows.
Ethereum price Analysis: Bullish marubozu directs ETH buyers to previous support around $1,640
Ethereum keeps the month-start run-up while taking the bids near $1,560 during the initial trading on Tuesday. In doing so, the quote prints a ‘bullish marubozu’ candlestick on the daily (D1) chart. Key Fibonacci retracement levels raise bars for bear’s entry.
Dogecoin price aims for greatness after developers release new update in two years
Dogecoin is back on the spotlight after developers release a new update for the first time since 2019. The new upgrade makes Dogecoin faster and reduces CPU usage for users running Dogecoin nodes. Additionally, the digital asset was just listed on Phemex against AAVE and USD and with a leverage of up to 20x.