Ethereum and Dogecoin: Struggling Giants
For months, Ethereum and Dogecoin have shown lackluster performance, with neither offering revenue sharing benefits to cushion investors from a prolonged downturn. Ethereum's price, for instance, has struggled to surpass the $2.7k resistance, despite a brief rise from $2.1k. Traders have seized profit opportunities, causing a downward correction to the $2.6k zone. If Ethereum fails to maintain its position above the 50-day Exponential Moving Average (EMA), it could face further decline towards the $2.5k support level. Although Ethereum remains relevant for on-chain applications, high transaction costs and slow speeds have raised concerns about its long-term viability.
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