Axie Infinity, Cryptocurrency, Dogecoin, News, VeChain

VeChain, Dogecoin, and Axie Infinity – Where Next?

DOGE’s bulls stepping up might trigger a 38% uptick

Dogecoin has experienced a steady and gloomy downtrend since 8 May. The meme coin seems to gain some ground after a slight sell-off, showing that buyers may come to rescue the asset.

Although with indecisiveness, DOGE might see uptrends if it accumulates enough bullish momentum at the level.

The canine-themed cryptocurrency has lost around 73% of its price since the 8 May highs at $0.745. For now, the alternative asset struggles with sell-offs, waiting for the correct catalysts to rally. As much as Dogecoin dropped beneath the $0.194 market, it recovered somewhat fast, indicating buyer’s activities. If bulls manage to control Dogecoin’s market from here, the altcoin might see its value increasing by 38%.

VET signals a 27% plunge

Yesterday, VeChain showed a head-shoulder topping price pattern. That indicated that the price structure that has been in place since the 22 June lows is fragile. The days, mild rebounds by VET seem not to disturb the bearishness, confirming an incoming break of the 22 June lows at $0.059.

VeChain price formulated a head-shoulders form that started with an ascending wedge model from 23 May to 19 June. The top pattern followed VET’s losses of about 40% in three days, including the 21 June 25.57% sell-off. The decline magnitude resembled the head-shoulders pattern’s move at negative 39.72%. With the current market bearishness, correct sentiments are essential for VeChain to avoid a 27% drop.

Axie Infinity shows signs of 30% loss

AXS seems to gain ground since plummeting on 22 June. The altcoin has extended its upward moves, exceeding most top crypto coins by significant margins. However, market players remain skeptical about the sustainability of the asset due to the overbought issue and increase to the vital Fib extension levels from the existing currency’s value. For now, analysts contemplate a slight correction for AXS to relieve the current price compression in the upcoming sessions.

However, bears seem to control the Axie Infinity market at the moment. If nothing happens to change the situation, the coin might experience a 30% sell-off.

Feel free to comment on your opinions below.

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