Digital assets traded in the red today as cryptocurrency enthusiasts remain skittish amidst the United States Presidential elections.
Bitcoin price retraced towards the $68K mark, dragging the altcoin market lower over the past day.
The bellwether token trades at $68,790 at press time, with bears signaling further declines before probable uptrends.
While bears dominate the market, Dogecoin and Tron holders had something to smile about.
The original meme token led the gainers in the sea of red, jumping over 10% within the past day.
Meanwhile, Tron continued to cement its position as one of the top crypto projects, with nearly all its holders making a profit despite the gloomy market conditions.
Bitcoin price outlook
The top cryptocurrency by market cap traded at $68,790 during this publication.
Bulls attempt to reverse the latest slide as Bitcoin gained 0.40% over the past 1 hour.
Source: Coinmarketcap
BTC demonstrates heightened volatility due to the US elections, and technical indicators show the selling pressure could stay until the electioneering period ends.
Bitcoin trades inside Keltner Channel’s (KC) bearish territory while near the $67,990 VWAP (Volume Weighted Average Price), signaling significant downward momentum.
Intensified bearish actions could plunge prices beneath the psychological support of $65K, welcoming further downsides toward the KC’s lower border at $63,821.
Meanwhile, analysts forecast swift post-election rebounds upon Trump’s victory.
That could catalyze upsurges past the $68,117 nearest resistance before opening the gates to new ATHs.
Thus, enthusiasts should monitor technical markers at $65K and $68K as the US presidential results unfold.
Dogecoin defies bearish trends
While Bitcoin’s struggle at $68K catalyzes uncertainty in the crypto sector, Dogecoin emerged as the top gainer.
Bullish factors such as continued support from Elon Musk have kept DOGE afloat.
Further, the rising market dominance has positioned the meme token for robust rallies.
The original meme token gained over 10% within the past day to trade at $0.1683.
Source: Coinmarketcap
Technical indicators suggest more room for Dogecoin surges. For instance, the 50- and 200-day SMAs’ bullish crossover indicates an upward momentum.
Also, the Stochastic RSI’s D and K lines have approached an optimistic verge.
Dogecoin’s prevailing performance showcases its resilience amidst broad market woes.
With conditions likely to improve post-elections, DOGE remains poised for remarkable rallies in the upcoming sessions.
Dogecoin’s ties with Elon Musk set it for recoveries towards the $0.22899 52-week peak upon Trump’s win.
That will likely trigger a rounding bottom breakout, opening the doors towards $0.37130 – a 120% increase from current prices.
Tron holders enjoying profits
TRX trades at $0.1624 after losing 1.60% in the past day. The alt’s performance reflects the current bearish wave in the overall marketplace.
Tron exhibits a bullish mid-term trajectory after soaring over 6% the previous month.
Source: Coinmarketcap
Moreover, IntoTheBlock stats show nearly all Tron holders are profitable at current prices.
Over 97% of all TRX wallets were enjoying returns at press time.
Tron remains among the tokens poised for remarkable rallies upon broad market recoveries, expected after the US elections period.
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