Bitcoin‘s price is holding steady at $57,500 while altcoins continue to experience a downturn. The persistent volatility in the cryptocurrency market shows no signs of abating, at least until the Federal Reserve’s decision on September 18, which could further shape market sentiment. Analysts have provided insights into the potential future performance of Dogecoin (DOGE) and PYR Coin, offering their forecasts amid the current market turbulence.
Dogecoin (DOGE)
Crypto analyst JAVON, who operates under a pseudonym, recently shared his evaluation of Dogecoin (DOGE). He anticipates a breakout from a falling wedge pattern, suggesting significant gains could be on the horizon. JAVON asserts that DOGE, known for its meme status, could see its price more than double if the market trends upward in the last quarter of the year. He shared his mid-term price target, suggesting a substantial increase.
According to JAVON, the technical indicators point towards a potential breakout by early October. He stated that Dogecoin could return to $0.22, significantly higher than its current levels. He remains optimistic about a higher target of $0.653 if the breakout materializes successfully.
PYR Coin Price Target
Daan Crypto Trades, another well-known analyst, focuses on PYR Coin. The price of PYR was noted to be above $2.5 when the analyst released his latest chart. He identified $2 as the bottom support level and expressed satisfaction with the recent price recovery. He highlighted the importance of Bitcoin’s price movements in influencing PYR’s trajectory.
Daan Crypto Trades pointed out that PYR is making a higher low after the first upward impulse from its range bottom. He stressed the need for Bitcoin to maintain some stability to support PYR’s movement towards its targets. A weekly close above $57,000 for Bitcoin is crucial for continued strength, although this remains uncertain before the upcoming Fed meeting.
Key Takeaways from Analysts
– JAVON predicts Dogecoin could see a more than 100% increase if a falling wedge breakout occurs.
– The mid-term price target for DOGE is set at $0.22, with a higher target of $0.653.
– Daan Crypto Trades identifies $2 as a critical support level for PYR Coin.
– PYR Coin is showing signs of recovery and needs Bitcoin to remain stable to progress further.
– A weekly close above $57,000 for Bitcoin is vital for continued market strength.
As the cryptocurrency market awaits the Federal Reserve’s upcoming decision, analysts’ predictions for Dogecoin and PYR Coin offer a glimpse into potential opportunities. The market’s next moves will be crucial in determining whether these forecasts come to fruition.
