Ethereum, SafeMoon and Dogecoin – European Wrap 31 May

Ethereum price seems to have found support on the 21-week Exponential Moving Average (EMA), which has paused the downswing momentarily. While a continuation of the rally seems logical, several on-chain metrics point to a rather off-putting outlook for ETH.



SafeMoon price is currently undecided on its directional bias and could sway either way. However, going by the general market structure of most cryptocurrencies, it is likely SAFEMOON will head higher.


SAFEMOON/USDT 4-hour chart

Dogecoin price is on a slow but steady downtrend, suggesting a lack of bullish momentum. However, its recent bounce from a key support barrier could restart the uptrend


DOGE/USDT 4-hour chart