Briefly –
- Ethereum and Bitcoin saw price spikes on Wednesday after Musk’s panel comments at the B-Word conference.
- Ethereum value hits around $2,000 as enthusiasts aim $2,400.
- DOGE registered recoveries as well, closing the $0.2 gap.
The crypto market had most assets trading in the green on mid-Wednesday after the losses at the start of the week. Bitcoin increased over $30K before stepping above $32K as Elon Musk made bullish comments at the meeting with Cathie Wood and Jack Dorsey.
The tech billionaire declared that his company would resume Bitcoin transactions if mining achieves its green goals. He also affirmed that he owns BTC, ETH, and DOGE. Moreover, his Space firm Space X also has BTC holdings.
Ethereum
Ether saw rebounds from $1,730, the weekly low, as Elon Musk hit the media again. The ‘smart’ contract pioneer saw extended bullish moves over $1,900 while the conference proceeded.
The bullish attitude paused over $1.9K. However, it seems to resume on the European sessions on Thursday. While writing this article, ETH is trading at $1,997 as bulls struggle to take the altcoin above $2,000.
Meanwhile, the coin has to conquer the resistance by 100 SMA to extend the surges above $2,000. Though investors eye $2,400, the 200 Simple Moving Average at $2,050 will hinder uptrends.
Dogecoin
Dogecoin seems to gain some ground in the mid-week sessions after the plunges that had it hitting $0.16. The upswings come from Musk’s B Conference appearance. Also, the reaction to the oversold condition that the meme coin had earlier on the week boosted price changes.
Though the executive did not have all his attention on meme assets, the Dogefather appearance means a lot for Dogecoin. As a result, the themed crypto increased towards $0.2 before sliding to $0.191.
Keep in mind that DOGE trades over a long-term declining trend line, affirming the uptrends. The coin has to defend this level for bulls to take Dogecoin above $0.2.
If Dogecoin manages to trade over $0.2, it will confirm massive bullish, gazing at $0.3. The asset will need to conquer several obstacles, including the 50-SMA and the 100-SMA on the 4-hr chart for uptrends.
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