The cryptocurrency market has finally started to follow a positive trend, but it remains unclear how long this situation will last. An analyst with a wide following states that the leading cryptocurrency Bitcoin may decline in a short time. The same analyst thinks that a meme coin has the potential to reach higher levels towards the end of the year. He also states that the situation of the leading altcoin looks good.

Altcoin Sherpa's DOGE Comments
According to Kriptokoin.com, the market moved into the green zone as the selling pressure on Bitcoin decreased. However, analysts emphasize that the upward trend is not yet definitive. The analyst, known as Altcoin Sherpa, states that Dogecoin (DOGE) continues its long-term rise; However, he adds that DOGE has fallen below its 200-week exponential moving average (EMA) and is currently in a deep bear market. The analyst explains as follows:

"DOGE: I think it will reach big numbers late this year, but this process is painful. It regained most of its previous gains and lost value. It also lost the 200W EMA."

Meanwhile, Dogecoin is trading at $0.1099, up 3.5% on the day. Meme coin also entered the green zone on the weekly chart.

Optimistic Expectations for Ethereum
Altcoin Sherpa then touches on the leading altcoin Ethereum (ETH). The analyst states that ETH's recovery of the 200-day EMA as support is a positive development. "It's hard to ignore ETH. It still offers a good chart." says. At the time of writing, Ethereum is trading at $3,157, with a daily increase of 2.5%, and its weekly gain has exceeded 5%.

Critical Level for Bitcoin: $63,000
Finally, the analyst examines Bitcoin (BTC). Altcoin Sherpa expects BTC to make a bounce after falling below its 200-day EMA; However, he also states that there is a possibility of further retreat after this jump. "Trading below the 200-day EMA is not positive, but we are in a wait-and-see mode right now. I foresee the price jumping in both scenarios. If the decline occurs, we can bounce from here. If there is a real bounce, we can reach $63,000." says.

Additionally, the analyst emphasizes that Bitcoin could determine the direction of price movement around the 200-day EMA. "If we rally to $58,175 on the higher timeframes, things could look good up to $63,000. Otherwise, we could test $50,000." He adds:

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