Investors Monitor Cryptocurrency Movements as Market Volatility Increases

Investors Monitor Cryptocurrency Movements Amid Heightened Market Volatility

Investors, unable to anticipate the market's next phase, have adopted a cautious stance, leading to a decline in trading volumes. This trend has persisted for Bitcoin and altcoins alike. Ahead of tomorrow's inflation data release, risk-averse investors have engaged in significant selling and are currently refraining from making purchases. Consequently, what are the predictions for DOGE, ADA, and TON Coin?

Dogecoin (DOGE)

DOGE, the largest meme coin by market capitalization, has been oscillating between horizontal support levels of $0.16 and $0.12. While buyers have attempted to maintain the price above the 20-day EMA ($0.15), their efforts have been unsuccessful due to BTC's recent drop to $61,600. If tomorrow's data proves favorable, the 50-day SMA ($0.16) could be tested, potentially leading to targets at $0.21 and $0.23.

Conversely, if prices close below $0.15, the $0.12 and $0.08 levels will once again become targets.

ADA Coin Predictions

ADA Coin has returned to the $0.43 range, and BTC's inability to sustain levels above $63,000 has triggered losses of up to 5% in altcoins. Prominent cryptocurrencies such as ADA, MATIC, and CHZ have witnessed rapid sell-offs. The downward trend is further supported by the declining 20-day EMA ($0.46) and the RSI remaining in selling territory.

In the coming hours, contingent upon overall market sentiment, the price of ADA Coin is likely to retreat to the $0.4 support level. However, if $0.46 is reclaimed, an optimistic scenario could see the price surpass the $0.5 to $0.52 range, bringing the $0.56 target into focus.

TON Coin Price Prediction

TON Coin, the star performer of recent months, has gained substantial popularity. The Telegram-backed altcoin's success in ecosystem development and marketing to Telegram users has contributed to its significant market capitalization of over $20 billion (although potentially inflated). Nevertheless, the risk of a large portion of the token supply being concentrated in the hands of a few investors remains a concern for TON Coin.

In terms of price action, $7.67 represents the primary resistance level. If bulls can overcome this hurdle, the rally could extend towards $9.

The original article was first published on COINTURK NEWS: Investors Monitor Cryptocurrency Movements as Market Volatility Increases