Why DOGE, DOT, AVAX are not good choices for investment portfolio?

Crypto markets have seen a significant uptrend so far this year due to the unexpected failure of the FTX exchange in November 2022, which many see as a reward for surviving the Terra-Luna crash and heavy losses in May 2022 .

The prices of top coins like Bitcoin and ETH are up 30% and 28% year-to-date (YTD), respectively. Both are trading at prices last seen before FTX crashed.

Altcoins such as FTM have surged more than 100% in price since January 1, while APT has grown exponentially by 300%.

According to data from CoinMarketCap, the global cryptocurrency market capitalization has increased by 24% in the past 42 days.


stupidohNoun: CoinMarketCap

While holders of top BTC and altcoin ETH are recording profits for the first time in months, the question remains which other assets should be invested for maximum long-term returns?

femaleh,This altcoin canUm? is nHeyI live in noSafety

in a postal In a blog post from December 2022, market analyst Jessica Doosan suggested 25 “zero-loss” coins that investors “will earn extremely handsome returns in 2024-2025.”


Let’s assess the short-term performance prospects of the top 3 altcoins of Doosan’s 25 largest market caps, namely DOT, DOGE, and AVAX, and what their holders can expect.

Prices are expected to fall in the short term

Observing DOT, DOGE, and AVAX price trends on the daily charts reveals a common pattern: all three are starting new bearish cycles.

For DOT, the price has increased by 45% year-to-date. After several weeks of bullishness, the altcoin finally peaked at $7.1 on Feb. 3 and has been heading south ever since.

This coincided with the MACD line crossing the trendline downwards, starting a new bearish cycle. At the time of writing, DOT was trading at $6.20, down 11%.

Key indicators such as the Relative Strength Index (RSI) and Money Flow Index (MFI) are approaching their respective neutral zones as buying momentum continues to wane.

As the decline continues, the position of these momentum indicators shows that DOT buying pressure has subsided over the past few weeks, and the lack of liquidity to drive prices higher will lead to continued price declines.


pip/USDT | Source: transaction view

The same goes for DOGE, the top memecoin. At press time, DOGE is changing hands at $0.0845. Its price has risen 20% since the beginning of the year. After a sharp decline, the RSI and MFI have broken their neutral points and moved towards oversold territory.

This shows that the accumulation trend of DOGE has slowed down significantly as many holders took profits.

The Aroon Up (orange) line at 42.86% confirms the weakening buying trend in the DOGE market. On the other hand, the Aroon Down (blue) line is at 78.57%.

With Aroon’s upward line near 0, the uptrend is weak and the recent highs have already been reached. This could be a sign of an underlying trend reversal.

Likewise, when the Aroon Downline approaches the 100 level, it indicates that the downtrend is strengthening and the recent lows are relatively close.


Dogecoin/USDTB | Source: transaction view

For AVAX, key momentum indicators are also near oversold lows at press time. Additionally, Chaikin Money Flow (CMF) has broken out of its mid-line down and stands at -0.08 at press time.

This indicates a significant decline in buying momentum and continued distribution. With CMF in a downtrend, the price of AVAX is expected to drop further.

In order not to miss the news, we sincerely invite you to pay attention to our Telegram:

AVAX/USDT | Source: transaction view

Negative sentiment continues to plague these assets

Data from Santiment programme DOT, DOGE and AVAX have been affected by negative investor sentiment over the past month.

With weighted sentiment remaining negative for all three assets at press time, a bullish correction would only make sense if investor sentiment also changes.


source: Santiment

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According to AMBCrypto

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