Ethereum price has formed a strong support at $2,100 as whales continue 
accumulating the asset. Now, a bullish pattern on charts hints at more 
potential upside over the coming sessions. According to data from crypto.news, 
Ethereum bulls managed to fend…

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Architectural innovations in decentralized finance, like multi-use liquidity 
pools, can improve capital efficiency without adopting risky collateral 
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The Sovereignty Tax In the current market landscape, trading on a centralized 
platform feels like driving on a paved highway, while decentralized trading 
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A crypto wallet tied to a convicted drug dealer thought to have lost his 
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Ongoing accumulation of Bitcoin is likely one of the factors behind why the 
cryptocurrency is trading in a tight range, say crypto analysts.

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A cryptocurrency analyst has pointed out how a Dogecoin price level holds the 
cost basis of a notable amount of the memecoin, potentially making it a major 
support line. Dogecoin Traders Last Moved 28 Billion Tokens At $0.074 In a new 
post on X, analyst Ali Martinez has talked about the latest UTXO Realized 
Price Distribution (URPD) of Dogecoin. This indicator tells us about the 
amount of the asset that was last purchased at the various levels visited by 
it in its history. Related Reading: Ethereum Rebounds 6%, But Coinbase Demand 
Remains Weak Below is the chart for the metric shared by Martinez. As 
displayed in the graph, Dogecoin is currently trading around levels where 
little supply last changed hands. The nearest major cost basis center lies at 
$0.074, where 28 billion tokens of the cryptocurrency last became involved in 
transactions. In recent months, the memecoin has been in a downtrend and if 
the bearish momentum continues, it&#8217;s possible that it could end up retesting 
this huge supply zone. Currently, these investors are in a state of net 
unrealized profit, but when the retest will occur, they will drop back to 
their break even. It&#8217;s hard to say for sure how these holders would react to 
their cost basis being threatened, but often, traders try to protect their 
break-even level by participating in more accumulation. Though, this is 
usually the case when the market mood is positive. Given the sheer scale of 
the $0.074 supply barrier, however, any buying reaction could be of a 
significant degree. This is why the analyst has called it &#8220;one of the most 
important support zones&#8221; for Dogecoin. In some other news, DOGE has recently 
appeared to be following a Descending Triangle pattern, as Martinez has 
highlighted in another X post. The &#8220;Descending Triangle&#8221; forms whenever an 
asset observes consolidation between two converging trendlines, with a chief 
feature being that the lower of these lines is parallel to the time-axis. As 
is visible in the below chart, Dogecoin has been moving down this pattern on 
the 4-hour timeframe. Earlier this month, the coin retested the resistance 
level of the channel, but it ended up finding rejection. Currently, DOGE is 
trading about midway between the upper and lower levels, so it&#8217;s uncertain 
which level it might end up visiting next. Related Reading: Bitcoin HODLers 
Quietly Add 332,000 BTC Amid Market Chaos In the scenario that an escape from 
the triangle occurs during the next retest, it&#8217;s possible that Dogecoin could 
see a sustained move in the direction of the breakout. Based on the height of 
the Descending Triangle, Martinez has noted that a 29% move could be on the 
horizon for the asset. DOGE Price At the time of writing, Dogecoin is floating 
around $0.095, down over 7% in the last seven days. Featured image from 
Kanchanara at Unsplash.com, chart from TradingView.com

Cryptocurrency price in TWD