Dogecoin (DOGE) extends its decline, trading around $0.23 on Monday after falling 8.55% last week. Coinglass’ long-to-short ratio for DOGE reads below one, indicating more traders are betting for a correction while the technical outlook projects a pullback toward the $0.20 level.
Bitcoin (BTC) price has been consolidating between $94,000 and $100,000 since early February. Ethereum (ETH) and Ripple (XRP) show signs of weakness in momentum indicators, hinting at a downturn ahead.
Over the past seven weeks, Bitcoin (BTC) has formed a symmetrical triangle pattern with lower highs and higher lows, indicating a period of consolidation and indecision before a potential breakout. A similar pattern preceded the recent sell-off in the Dow Jones Industrial Average, raising concerns that Bitcoin and other cryptocurrencies might follow suit.
