November 8 Crypto Outlook: Dogecoin and Lunex Network Show Strong Gains Amid Market Shifts
On the weekly and monthly price charts, Dogecoin (DOGE) and Lunex Network (LNEX) are displaying profits despite shifting market trends. Tron (TRX), on the other hand, is struggling to break past barriers and reach new levels due to negative pressure. This has rekindled interest in DOGE, which had been slack for some time. Additionally, the new project has potential, as evidenced by the growth of the DeFi coin, LNEX. In summary, in the upcoming weeks, analysts predict that their prices will rise.
Dogecoin Surges 22% Weekly as Meme Coin Resilience Defies Market Decline
DOGE is among the leading meme coins that have managed to withstand the consequences of the current decline in the cryptocurrency market. The price of Dogecoin has risen by 22.33% on the weekly chart, according to data from CoinMarketCap.
At the biweekly and monthly levels, DOGE boasts double-digit gains of 20.6% and 81.43%, respectively. Over the past week, Dogecoin’s (DOGE) 14-day RSI has been rising and has been above the 50-mark. Bulls are in charge of the market, as seen by their steady rise. The Dogecoin may, therefore, reach new heights in the coming weeks.
LNEX Price Reaches New High at $0.0019, Promising Massive Gains for Investors
Investors are already taking notice of LNEX because of its decentralized trading strategy. Although LNEX has risen 58% to hit a new high of $0.0019, economists predict that before the year is out, the price of altcoins might rise by as much as 10 times.
Users can trade a lot of coins on several networks without worrying about expensive fees and lengthy transaction times because of its cross-chain feature. The lack of KYC is another advantage of the Lunex Network. Customers do not have to go through the identification process in order to trade on the Lunex Network, unlike many other platforms.
TRX Faces Bearish Pressure as Analysts Forecast Potential Drop
Over the past month, TRX has been stabilizing between $0.1525 and $0.17. The contrary has happened, despite many predictions that a huge increase may be avoided following the consolidation. The coin’s possible upward trend has been halted by resistance at higher levels. In order to overcome selling pressure at these levels, more buyers would need to enter the market.
According to CoinMarketCap data, the price of Tron has decreased by 3.68% over the past week. Analysts predict that the cryptocurrency’s value may yet decline to lower levels in the upcoming months. The 14-day RSI for TRX has also been sharply declining and is currently near 50. A bearish indicator, this decrease indicates that sellers are in control.
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