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Cryptocurrency analyst ˝December cryptocurrency rally forecast… led by Ethereum and Dogecoin ˝:Coin Leaders

Crypto analyst and trader Justin Bennett argued in December that Ethereum (ETH) and Dogecoin (DOGE) could bring a rally to the crypto market.”

According to the Daily News, a cryptocurrency media outlet on the 30th (local time), popular analyst Bennett told 91,000 Twitter followers that the Dollar Index (DXY), which shows the value of the dollar against the currencies of six major countries, including the euro and yen, is weakening. Diagnosed as suitable for the cryptocurrency rally heading into December.

A weaker dollar generally suggests investors are favoring other assets over the world reserve currency (the dollar).

In addition, Bennett said, “The total market capitalization (TOTAL) chart of cryptocurrencies is nearing the end of a downward wedge pattern (a pattern that temporarily declines in a long-term upward trend and then resumes an upward trend), and during a decline, the Relative Strength Index (RSI) ), suggesting a bullish reversal.”

In particular, he analyzed, “Ethereum, the second-largest cryptocurrency by market capitalization, and Dogecoin, a representative meme cryptocurrency, are ready to perform well in December.”

Meanwhile, the price of Ethereum (ETH, 2nd in market cap) is trading at $4,428 based on CoinMarketCap as of 4:10 pm on the 30th (Korean time). Dogecoin (DOGE, 10th in market cap) is trading at $0.217.

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