Cryptocurrencies Price Prediction: Luna, Dogecoin & Solana — Asian Wrap 11 July


Bitcoin’s stabilization could be key for LUNA price to trigger a move to $3.5

LUNA price shows the formation of a bottom reversal setup that could trigger a bullish move. Investors need to pay close attention to the immediate support level, a breakdown of which could result in further descent.

LUNA price set a swing low at $1.94 on June 8 after crashing 89% since May 31. This move was the last leg of the downswing and set a base for the triple tap setup. The technical formation contains three distinctive swing lows, with the central one deeper than the rest. The first and the third swing points are often along the same trend line. 

LUNA/USDT 4-hour chart

Despite crypto's bearish backdrop this is where you can buy Dogecoin price for a 90% gain

Dogecoin price shows the possibility of a quick retracement to significant support levels that could, from a macro perspective, kick-start an upswing. Investors need to pay close attention to this downswing as it could potentially trigger another recovery rally.

Dogecoin price rallied roughly 60% between June 18 and June 26 and set a range, extending from $0.049 to $0.078. As bullish momentum exhausted, DOGE retraced 20% and bounced off the midpoint at $0.063.

DOGE/USDT 1-day chart

If history repeats itself, this is where Solana’s SOL price could go

Solana price has been highly volatile after the crash in the first half of June 2022. As a result, SOL has seen massive recovery rallies that pushed it higher. However, the bounce seems to be facing a hurdle that is subduing it and preventing it from moving higher.

Solana price rallied roughly 60% between June 18 and June 24 to set a swing high at $42.89. While this move was impressive, it faced a limitation and its upside was capped due to the presence of the 8-day Exponential Moving Average (EMA). 

SOL/USDT 4-hour chart

 

 


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Join Telegram

Recommended content


Recommended Content

Editors’ Picks

Solana and XRP ETFs may be on the cards in 2025, Standard Chartered analyst says

Solana and XRP ETFs may be on the cards in 2025, Standard Chartered analyst says

Ethereum Exchange Traded Fund approval news has renewed optimism on Solana and XRP ETFs approval in 2025. Analysts at Standard Chartered believe more cryptocurrency ETFs may be approved next year, and these assets will not be classified as securities. 

More Solana News

Uniswap Price Forecast: UNI could be poised for 30% rally after month-long lull

Uniswap Price Forecast: UNI could be poised for 30% rally after month-long lull

Uniswap price has broken out of a 35-day consolidation this week, a sign of a possible rally ahead that could increase the token’s price around 30%. Technical indicators support the bullish thesis, while on-chain data also aligns with it.

More Uniswap News

Dogecoin inspiration Kabosu dies, leaving legacy of $22.86 billion market cap meme coin behind

Dogecoin inspiration Kabosu dies, leaving legacy of $22.86 billion market cap meme coin behind

Kabosu, the popular Shiba Inu dog that inspired the logo of the largest meme coin by market capitalization, Dogecoin, died early on Friday after losing her fight to leukemia and liver disease. Kabosu had gained popularity as the dog behind the viral “doge” meme. 

More Dogecoin News

XRP climbs past $0.53, SEC Chair Gensler says the agency has done very well in court cases

XRP climbs past $0.53, SEC Chair Gensler says the agency has done very well in court cases

Ripple lawsuit ruling is expected soon, following the new US crypto bill, FIT21. SEC Chair Gary Gensler says the agency has fared well in legal battles while speaking at the ICI 2024 Leadership Summit. 

More Ripple News

Bitcoin: BTC struggles, but $80K is at striking distance Premium

Bitcoin: BTC struggles, but $80K is at striking distance

Bitcoin (BTC) price is in a good position to resume the bull rally despite the recent struggle. Optimism will restart if BTC overcomes a critical hurdle and flips it into a foothold. In such a case, the pioneer crypto will be slated to push to a new all-time high (ATH). 

Read full analysis

BTC

ETH

XRP