DOGE drops to four-week low, as crypto markets are hit by a red wave.
Avalanche also dropped to a four-week low on Saturday, as the token hit a key support point. As of writing, the global crypto market cap is trading 5.46% lower.Dogecoin was a notable mover during Saturday’s session, as the meme coin fell to its lowest level since late July.
As a result of the sell-off, DOGE/USD fell below its long-term support level at $0.0650, which comes two days after trading at a ceiling of $0.0730.As seen on the chart, there was another technical occurrence which triggered today’s decline — the downward cross between the 10-day and 25-day moving averages .
As of writing, Saturday’s bleed has somewhat eased, and this comes as the 14-day relative strength index found a floor at the 40.00 mark. Following a peak of $23.17 on Friday, AVAX/USD slipped to an intraday bottom of $20.08 earlier in the day.
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