Bitcoin, Ethereum, Dogecoin daily view of current variations

Looking at the BTCUSD chart on the day time frame, we see that the price has jumped to $ 59900 today, and we are now testing the psychological level at $ 60,000. We are further up the growing channel, testing the upper resistance line, and for further continuation, we need a break above this line. After that, we can expect further price movement towards the previous high at $ 65,000. If the price fails to break, then we expect to see a pullback down, looking for better support for a new bullish momentum. Our first lower support is at $ 55,000, then at $ 53,000, the place of the previous high breakout, and in the zone around $ 50,000, we are waiting for moving averages of 20 days and 50 days with the support of the lower support line.

Ethereum chart analysis

Looking at the ETHUSD chart on the daily time frame, we see that this morning’s price made a new high at $ 3850. We now have a smaller withdrawal to $ 3750, and we can expect a further pullback to $ 3650 instead of our previous resistance to the bullish scenario. Now we are looking for additional support there. The 20-day and 50-day moving averages are in the zone around $ 3400, and if the price breaks the upper resistance to 3650, we can expect stronger support here. For the bullish scenario, we need to continue the positive consolidation, for the first goal to visit our the previous high at $ 4000, from 2  September.

Dogecoin chart analysis

Looking at the Dogecoin chart on the daily time frame, we see that yesterday’s price met resistance at 0.2400, then we pull the pullback to 0.22000. Here now, we are again looking for support in the 20-day moving average, while on the upper side, our 50-day moving average is, for now, a big resistance on the upper side, and we need a break above for a potential bullish trend. The 200-day moving average is in the 0.27000 zone, and the break above us returns to a stronger bullish trend with the next target to visit the previous high at 0.32000.

Market overview

Recognizing the potential benefits of innovation in digital money and payments, finance officials from the Group of Seven (G7) major economies addressed relevant policy and regulatory issues at their last meeting. They drafted dozens of guidelines for central bank digital currencies (CBDC). In a published statement, participants confirmed:
Any CBDC should be based on our long-standing public commitment to transparency, the rule of law, and good economic governance.
A sovereign digital currency designed for use in households and businesses must “support and not harm” the central bank’s ability to maintain monetary and financial stability, G7 finance leaders said after Wednesday’s meeting. “The CBDC would replenish cash” and could serve as an “anchor for the payment system,” they added. It should also meet “rigorous standards” of privacy, transparency, and data protection and be resistant to various risks such as cyber threats, fraud, and illegal use.
Discussing innovations in private digital money, policymakers reiterate their commitment to ensuring that development there is secure and in line with the group’s policy objectives. If not properly regulated, stable money could pose a significant risk to financial stability, they point out, warning that unstable cryptocurrencies without subsidies cannot be widely used as a means of payment.
Monetary and financial stability is one of the basic principles. By designing a CBDC that supports public policy objectives, central banks can use the digital currency as an instrument to improve stability and manage impacts on financial intermediaries, the report notes. G7 officials point to the need to respect the rule of law and maintain economic governance in legal and governance frameworks. Policymakers emphasize: appropriate national legal, regulatory, supervisory, and supervisory frameworks are essential to ensure trust, resilience, security, and trust in any CBDC.