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Dog looks shaky above $0.08 –

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Dogecoin (DOGE) price traded above $0.08 with a bullish bias, as a moderate recovery was observed in the broader cryptocurrency market. The meme coin is up 11.75% over the past 24 hours and has risen to the 8th position with a market capitalization of $10.86 billion. It seems that a recovery of the DOGE is possible, as the second session in a row in the green has become the clearest sign of the bullish trend.

If the recovery continues, Dogecoin could show a significant rally.

Dogecoin price bulls must hold above $0.08

The DOGE index has been suppressed by the descending trend line for the past two weeks, pulling away from its recovery attempt on November 10th. The ensuing downturn saw the altcoin lose the crucial support provided by the 50-day simple moving average (SMA) which held at $0.0803.

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However, the $0.072 level provided the launch pad needed to start the recovery on Tuesday. Note that this is an important demand area that is being embraced by both the 100-day and 200-day SMA.

At the time of writing, DOGE is trading hands at $0.0817 and appears to be fighting to stabilize above the 50-day SMA which is currently at $0.080. Crypto will require support from the broader market to hold above this level to avoid further losses.

Unfortunately, the Relative Strength Index (RSI) is still positioned below the center line at 44.5, which indicates that the bears still have the upper hand. In addition, the Moving Average Convergence Divergence (MACD) indicator is still moving within the negative territory below the zero line. This is an indication that market sentiment remains negative.

DOGE/USD daily chart

As such, the bears will now attempt to drag the price below the 50-day SMA at $0.080 with the first line of defense emerging from the 100-day and 200-day SMA at $0.072. The next support line can be found at the $0.067 level.

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Below that, DOGE could drop to the crucial demand area that extends from $0.056 to $0.067, where it could build for some time before returning.

Investors can recall that the cryptocurrency fluctuated within the range between late August and late October before surging 168% on the news that the American billionaire and CEO of Tesla Inc. Elon Musk has officially acquired the social media giant Twitter.

Therefore, if Dogecoin price drops to the above-mentioned area, a similar price action can be seen, given the type of support offered at that level.

Demand area from $0.056 to $0.067 is crucial for DOGE price

$$0.056 to $0.067 is critical meme icon backed by Musk, according to chain data from IntoTheBlock. The Global In/Out of the Money (GIOM) model shows that the area is within the $0.055 and $0.0678 price range where about 4.4 billion DOGE was pre-purchased by 345,230 addresses.

Any attempts to push the price below this level will be met with intense demand from this group of investors who may want to increase their profits.

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Dogecoin GIOM chart

Dogecoin GIOM chart
Source: Intotheblock

This support is relatively stronger when compared to the immediate resistance around the $0.085 level. This falls within the $0.084 and $0.11 price range as $17.53 billion was booked by only about 170,000 addresses.

On the other side

On the upside, DOGE could continue rising from the current levels to breach the bearish trend line to locate the psychological level of $0.085. If this happens, the bulls might be supported to push the price to the $0.090 bid level before initiating a rally in the $0.095 range. Such a move would represent an upside of 15.6% from the current price.

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Internet of Things (IoT) Token Price Prediction: VET, MIOTA, HNT, and IOTX

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The currencies referenced below have fallen to the bottom of the chart. For example, HNT and VET It fell to historical lows of $2.29 and $0.019, which correspond to January 25, 2021, and August 3, 2020, respectively. The altcoins are consolidating towards the bottom of the chart. While MIOTA and IOTX are consolidating above current support levels.

The main trend for VET/USD practice: bearish
VeChain (VET) is seeing a decline after its recent drop to $0.018 on November 9. The decline has subsided over the past three weeks. The altcoin resumed a range-bound advance below the $0.020 resistance.

VET/USD – daily chart

The bears broke the current support on November 21, but the bulls bought the dips. Buyers are being held back by the $0.020 resistance on the upside. However, VeChain is currently trading in the overbought area of ​​the market. This refers to the emergence of sellers to lower prices. VET produced an upward correction in the November 9 economic downturn and the candle’s retracement body tested the 61.8% Fibonacci retracement line. VET is expected to drop to the Fibonacci extension level of 1.618 or $0.013.

The main trend for MIOTA / USD: bearish
IOTA (MIOTA) is in a downtrend, after falling sharply to as low as $0.19 on November 9.

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Internet of Things (IoT) Token Price Prediction: VET, MIOTA, HNT, and IOTX
MIOTA/USD – daily chart

The upward adjustment ended at $0.24. Today, MIOTA rebounded above the $0.20 support level, and resumed consolidation above it. The upward move was capped by $0.22 or the 21-day simple moving average. The cryptocurrency will be in the period of RSI 14 level 45. The coin is likely to drop further.

HNT/USD main trend: bearish
Helium (HNT) is falling and has dropped significantly to $2.45. With bulls buying on dips, bears pushed the currency to a new low of $2.06.

Internet of Things (IoT) Token Price Prediction: VET, MIOTA, HNT, and IOTX
HNT/USD – daily chart

An upward correction is facing resistance at the 21-day SMA. At the time of writing, the altcoin was trading at $2.29. The altcoin is holding above the $2.00 support. Price action is characterized by small, uncertain body candlesticks known as Doji. These candlesticks indicate that buyers and sellers are unsure of the direction of the market.

Main trend for IOTX/USD: Bearish
IoTex (IOTXUSD) is declining, however, it has recently corrected upwards to previous highs. Buyers pushed the currency to the previous high but were unable to break it, sending it lower. The altcoin fell to as low as $0.035 before resuming consolidation above the current support.

Internet of Things (IoT) Token Price Prediction: VET, MIOTA, HNT, and IOTX
IOTX/USD – daily chart

IOTX produced a bullish reversal in the pullback on November 13 and the candle’s retracement body tested the 78.6% Fibonacci retracement line. The correction predicts that IoTex will decline, but it will reverse at the 1.272 Fibonacci Extension level, or $0.020. For the period 14, the altcoin has been at the RSI level of 46. The cryptocurrency is in a slump and may continue to decline.

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Ripple is filing a final submission against the SEC as the landmark case draws to a close

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The most talked about crypto case involving the US Securities and Exchange Commission (SEC) and Ripple is coming to an end after a two-year battle.

On Dec. 2, the SEC and Ripple both filed redacted responses to each other’s opposition to motions for summary rulings.

Ripple argued in his move document that the SEC had failed to prove that its offering of XRP between 2013 and 2020 was an offer or sale of an “investment contract” and therefore a security under federal security laws.

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Ripple concluded the document by saying that “the court should grant the defendant’s request and should reject the SEC motion.”

This is Ripple’s “final submission,” Ripple General Counsel Stuart Alderotti said on Twitter on Dec. 3, asking the court to “make” a ruling in its favor.

He also stated that Ripple is proud of the defense it filed “on behalf of the entire cryptocurrency industry,” noting that Ripple “always played it straight with the court,” and took a subtle swing at the SEC saying that “the same cannot be said for our opponent.”

In another Twitter post, Alderoty continued to criticize the SEC on Dec. 5, referring to it as a “reversion regulator,” citing two statements suggesting they are on ends with each other.

Ongoing legal dispute Between the SEC and Ripple It began in December 2020 when the Securities and Exchange Commission initiated legal action against Ripple claiming that it raised $1.3 billion by offering Ripple’s native cryptocurrency XRP as an unregistered security.

Related: Investors are increasingly confident in Ripple’s victory over the SEC: CoinShares

Earlier November 30 on Twitter threadThere are only three cases left to be resolved in SEC vs Ripple, former federal prosecutor James Phelan said.

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This includes summary motions for judgment, expert challenges, and seal issues related to the Expert Reports, Hinman documents, and other materials on which the SEC and Ripple have relied in their motions.

Hinman documents refer to the speech given by William Hinman at the Yahoo Finance All Markets Summit in June 2018, where He stated that ether (ETH) was not a security.

Phelan believes that Justice Torres will not handle the three big cases “separately,” and instead will decide “everything together, and once she rules on the motions for summary judgment, a ‘big written judgment’ will be rendered — likely” on or before March 31. ) 2023.”