A crypto analyst, known as Cheds, is predicting some price drops for popular cryptocurrencies. Let’s take a look at what he’s saying.
Dogecoin’s Potential Plunge
Cheds, who boasts a large following on X (formerly Twitter), believes Dogecoin (DOGE) could see a significant correction. He’s predicting a drop of around 33%, potentially taking DOGE down to the $0.11-$0.12 range. He points to a “bad chart” and a strong descending supply trend as reasons for his bearish outlook. At the time of this writing, DOGE is trading at $0.166.
Ethereum’s Predicted Support Level
Shifting focus to Ethereum (ETH), Cheds sees the price heading towards a support level around $1,000. He suggests that ETH, currently trading at $1,808, might be worth considering around the $1,200-$1,300 range.
XRP: A Cautious Outlook
Finally, Cheds offers a more optimistic outlook for XRP, suggesting bulls are in control as long as it stays above $2. However, he advises caution, recommending risk reduction if the price falls below that level. XRP is currently trading at $2.12.
Disclaimer: This information is for general knowledge only and should not be considered investment advice. Always do your own research before investing in cryptocurrencies.
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