After some painful downtrends, cryptocurrencies Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) seem to be coming back to life. However, the same can’t be said about Dogecoin (CYRPTO:DOGE).
Bitcoin ran into resistance around the $41,000 level in the middle of June. It couldn’t break through, and a downtrend followed.
But now it has reached this level again, and it appears to be breaking the resistance. This could set the stage for another move higher.
Ethereum ran into resistance around the $2,875 level in May and early June. This resistance could be breaking as well.
Unlike Bitcoin and Ethereum, Dogecoin continues to trade sideways. There was support around the 17 cents level, and there may be again if it trends lower.
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights
reserved.