Amid the current crypto Carnage, some cryptocurrencies are shaking the ground while daring to climb to higher levels. The widespread selloff in the market has not only paralyzed many investors, it has made short-term holders want to try their bet on HODLing. The market is on a downward path and lifeline support areas are being broken. Bitcoin (BTC), for instance, has lost over $1,200 since last week and is trading at $6,292. Ethereum has been battered extremely hard by the selling pressure, besides it is battling for support above $190 after recovering from a dip to $185.
In spite of the declines, investment can never take a pause. Investors are currently searching for the coins that have the biggest potential for recovery towards the end of 2018. For this reason, this article will explore two coins that are sending strong bullish technical signals and are likely to go higher as opposed to taking another trip downstream.
Bitcoin Gold (BTG)
Bitcoin Gold was introduced as a hard fork of Bitcoin. However, it differs from Bitcoin blockchain due to the added levels of decentralization as well as the infrastructure that supports its mining. This cryptocurrency was introduced in November 2017 and has within a short time grown its market capitalization to $334 million.
The protocol utilizes the Proof of Work (PoW) algorithm referred to as Equihash. The mining of BTG is more inclusive because it can be done using general purpose computer hardware (GPU). Moreover, it locks out ASICs mining that is commonly associated with Bitcoin (BTC). The cryptocurrency is a free open-source project that boasts of having a strong and rapidly growing community. To guarantee the security of tokens the team has employed unique addresses and the execution of full replay protection.
Bitcoin Gold is trading at $19.34 after an incredible recovery from the primary support at $14.00. BTG/USD recently changed hands above $22 before the uptrend turned bearish below $20.00. There is a strong support at $18.00 while the prevailing trend is bullish.
Dogecoin has grown against all odds to become a top 20 cryptocurrency with a market capitalization of $728 million. According to the Dogecoin website, “it is an open source peer-to-peer digital currency, favored by Shiba Inus worldwide.” The platform is decentralized and supports transactions using the official coin, DOGE. The token is a peer-to-peer digital asset commonly referred to as “the internet currency.” The Doge community has remained supportive through the ups and downs but the input of the team has been essential to the current success.
Dogecoin has given a blind eye to the bear trend that that is sinking digital assets in the market. The uptrend began toward the end of August where DOGE/USD detangled from the selling pressure at $0.25. The bullish trend spilled into September as Dogecoin broke above $0.0050. This paved the way for more upside movement above $0.0065, came close to $0.0070 but subtle lower corrections shook it down to $0.45. Dogecoin has remained stable above this level, besides it is trading at $0.00568 at the time of writing. Dogecoin is up 9.48% in the last 24 hours showing how the crypto has been defiant of the current selling pressure.