The cryptocurrency market, after a positive start to the new year, has reminded investors that neither downturns nor upswings last forever. Investors are gradually realizing that the extreme sell-offs experienced over the past two years are not permanent, and likewise, prices do not always surge continuously. Current predictions for AVAX, DOGE, and LINK Coin are mixed.
AVAX has faced selling pressure, with each rise being countered by sellers offloading their holdings for profit, contributing to a short-term negative sentiment in the market. This pressure pushed the price below the $31 support level on January 22, a previously anticipated target. While bulls attempt a comeback above this region, the resistance at $34.32 could prove to be a barrier.
If AVAX’s price is rejected at this resistance, it could potentially fall to a new low at $24. Conversely, if bulls succeed, price targets of $37.63 and $41 could be realized. Similarly, DOGE has seen selling pressure from miners and panic sellers, preventing it from overcoming the $0.09 resistance and retreating to the strong $0.07 support.
Should DOGE lose this support level (contingent on BTC dropping to $34,000), it could aim for $0.06 and $0.05 targets. In the opposite scenario, with BTC seeking new highs and attempting to breach the $50,000 barrier, DOGE could surpass $0.11.
LINK Coin, despite its high market value, which may limit significant price increases, looks favorable this year due to its activity in the RWA sector. Its price, fluctuating between $12.85 and $17.32, offers volatility trading opportunities for investors. A break from either level could lead to a journey towards $10.5 or above $20.