AgriDex (AGRI) - BTSE Listing - 06 Dec 2024

The Casper Network is holding a significant vote concerning their delegation policy from December 5 to December 8, 2024. This vote involves how treasury funds are managed and delegated, aiming for better decentralization and validator performance. Although only the validators can vote, the results might influence investor confidence and affect CSPR's price. Governance activities on blockchain platforms can often signal a maturing ecosystem. Depending on the outcomes, perceptions of Casper's network decentralization and efficiency could impact market sentiment. More information is available here.

SynFutures will be listed on the Bitget exchange on December 6, 2024. When a token gets listed on a major exchange like Bitget, it can bring increased attention and liquidity to the coin. This event could lead to a price increase as more people can easily buy and trade the token. New exchange listings often bring positive sentiment and can activate trading opportunities. The listing of SynFutures with the F/USDT pair will begin trading at 10:00 AM UTC. You can find more details about this event here.

The Dogecoin (DOGE) price stands at a critical juncture as technical analysts point toward a potentially significant breakout. Renowned crypto analyst Rekt Capital has identified a pivotal pattern on the DOGE/USD daily price chart, suggesting an imminent surge.

Will Dogecoin Price Confirm The Breakout Today?

The daily chart of Dogecoin reveals an ascending triangle formation that has been developing over recent weeks. This pattern is typically considered a bullish continuation signal, characterized by a horizontal upper resistance line and a rising lower support line. The formation indicates accumulating buying pressure, as each price retracement becomes shallower—implying that bulls are willing to buy at higher lows.

The top horizontal line of the triangle sits at approximately $0.44, a level that has been tested multiple times and serves as a significant barrier for upward movement. The ascending support trendline begins around $0.34 and rises gently, forming the triangle’s lower boundary and highlighting increasing support levels.

Rekt Capital emphasizes the importance of the current price action, stating: “Dogecoin has followed every Bitcoin thus far. Now retesting the top of the Ascending Triangle as support. Successful retest here is crucial to precede a confirmed breakout.” If this retest solidifies the triangle’s upper resistance as a new support level, it could pave the way for a substantial price increase.

The potential breakout target can be calculated by measuring the maximum height of the triangle—from the base near $0.34 to the top at $0.44—and projecting it upwards from the breakout point. This suggests that Dogecoin could potentially reach or exceed the $0.54 mark.

Dogecoin Price Analysis (4-Hour Chart)

Another prominent crypto analyst, Satoshi Flipper (@SatoshiFlipper), has provided insights based on the 4-hour DOGE/USD chart. He notes: “DOGECOIN/usdt 4 hour: DOGE still consolidating, for almost 1 month now, but this flawless ascending channel is filling out nicely and the breakout is going to be EPIC, just wait.”

The chart illustrates an ascending channel pattern, characterized by two parallel upward-sloping lines containing the price action. This pattern is recognized as bullish, formed by higher lows and higher highs. The Dogecoin price has been oscillating between these lines, with the lower line acting as support and the upper line as resistance.

Currently, the price is nearing the midline of the channel, which provides significant resistance around $0.46. Key levels to watch include: The lower boundary support sits around $0.40. The upper boundary resistance is near $0.52, a potential catalyst for Dogecoin’s next major move.

The price target following an ascending channel breakout can be estimated by measuring the channel’s height at its widest part and extending that distance upward from the breakout point. This projection suggests that DOGE could rise towards $0.64.

Adding to the technical signals, there could be a major catalyst for DOGE price today, December 5th. As reported by NewsBTC, Elon Musk and Vivek Ramaswamy are set to address members of Congress. They are expected to present key proposals under the auspices of the Department of Government Efficiency (DOGE). This development could have a substantial impact on the Dogecoin price, as Elon Musk’s involvement with the memecoin has historically influenced market sentiment.

At press time, DOGE traded at $0.44.

Shares of United States manufacturer Worksport (WKSP) surged 9.1% on Dec. 5 after the company decided to incorporate Bitcoin and XRP into its treasury strategy.

According to an announcement, Worksport plans to allocate up to 10% of any excess cash from operations to purchase Bitcoin and XRP , with an initial investment of up to $5 million. Taking this step, the company expects to hedge against inflation while diversifying its treasury.

CoinDesk Bitcoin Price Index is up $165.25 today or 0.17% to $99137.34

• Highest 4 p.m. level since Nov. 22, 2024, when it traded at $99290.67
• Up two consecutive days, up 3.62% over this period
• Up 133.06% year-to-date
• Down 0.15% from its all-time high of $99290.67 on Nov. 22, 2024 (based on 4 p.m. levels)
• Up 129.27% from 52 weeks ago (Dec. 7, 2023), when it traded at $43240.97
• Down 0.15% from its 52-week high of $99290.67 on Nov. 22, 2024 (based on 4 p.m. levels)
• Up 153.15% from its 52-week low of $39161.76 on Jan. 23, 2024 (based on 4 p.m. levels)
• Traded as high as $103852.71; New all-time intraday high
• Up 4.93% at today's intraday high; Largest intraday % increase since Nov. 27, 2024, when it was up as much as 7.02%

Note: CoinDesk Bitcoin Price Index (XBX) at 4 p.m. ET close

Data compiled by Dow Jones Market Data