Market Pulls Back as Dogecoin Dips Below Key EMA

The cryptocurrency market has seen significant price fluctuations in recent days. Dogecoin (DOGE) is currently trading at around $0.0860, reflecting a pullback phase after its 35% rally last week capped near $0.1000. The DOGE price remains above the 50-day Exponential Moving Average (EMA) at $0.0771 but is below the 200-day EMA at $0.0956. A confirmed breakout above the 200-day EMA and $0.1000 could signal a return to its upward trend, potentially targeting the $0.1161 supply zone.

Bitcoin (BTC) has maintained its bullish bias after last week's 23% rally, trading near $78,760 at press time on Wednesday. It hovers above the 78.6% Fibonacci retracement level at $77,489 measured over the downswing from $82,850 to $57,800.

Ethereum (ETH) saw a significant increase in liquidations over the past 24 hours, led by short liquidations of $69 million. The ETH price has shown strong buying momentum following an aggressive golden cross signal, with the 20-day EMA crossing above the 200-day EMA and the 50-day EMA above the 100-day EMA.