FTX plans to liquidate $200 million from its holdings each week. While BTC and ETH are looking safe, DOGE and TRX seem at risk of price plummets.
, on the other hand, was already bearish as its value declined by over 4% in the last seven days. At the time of writing, it was trading at $0.06096 with a market capitalization of over $8.5 billion.
It was interesting to note that both coins had high trading volumes throughout the last week. A disparity was seen in their funding rates, as ’s metric was green, reflecting its demand in the derivatives market, while DOGE’s funding rate was red.The chances of both cryptos witnessing a downtrend after the liquidation seemed likely. However, a look at their daily charts helped understand whether there were other concerns apart from FTX’s action.
’s daily chat revealed quite a few bearish market indicators. For instance, the Money Flow Index registered a downtick, as did the Chaikin Money Flow .However, the RSI supported the buyers as it went up from the neutral mark.Like Tron, Dogecoin’s market indicators also looked bearish. Its MACD already displayed a bearish crossover. Moreover, its CMF and On Balance Volume moved sideways, while its MFI registered a decline.might witness drops in their prices over the days to follow.
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