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On April 26, according to the Wall Street Journal, in order to simplify the negotiations on reciprocal tariffs, US negotiating officials plan to use a new framework developed by the Office of the United States Trade Representative (USTR), which lists major categories of negotiations, such as tariffs and quotas, non-tariff trade barriers, digital trade, product origin principles, economic security and other commercial issues. In these categories, US officials will put forward specific requirements for individual countries, but people familiar with the matter emphasized that this document may also be adjusted at any time. People familiar with the matter said that the United States initial plan is to negotiate with 18 major trading partners in turn over the next two months. The initial plan is to alternately participate in the talks with six countries per week for three weeks (six countries in the first week, another six countries in the second week, and another six countries in the third week) until the deadline of July 8. If US President Trump does not extend the 90-day suspension period he set by then, those countries that cannot reach an agreement will begin to face reciprocal tariffs.On April 26, after the United States announced additional tariffs on goods from many countries, Peruvian business people expressed concerns that the US governments extreme measures would disrupt the global trade order and may even trigger a global economic recession. Alvaro Barrenechea Chavez, vice president of the Peruvian-Chinese Chamber of Commerce, said that the negative impact of the US tariff policy has begun to emerge and hoped that the US government would rethink. Recognizing the importance of countries working together to promote development, I think this is the best way to become a true "world citizen."Market news: Musks xAI company plans to raise about US$20 billion in a financing round.Conflict situation: 1. Ukrainian top commander: Russia tried to use air strikes as a cover to increase ground attacks, but was repelled by Ukraine. 2. Ukrainian Air Force: Russia launched more than 103 drones in the night attack on Ukraine. 3. Local officials said Ukraine launched an attack in the Belgorod region of Russia, killing two people. 4. The local governor said that Russia launched an attack on the Dnipropetrovsk region of Ukraine, killing one person and injuring eight people. Peace talks: 1. Trump: ① The situation between Russia and Ukraine is gradually becoming clear, and they are "very close" to reaching an agreement. ② Ukraine is unlikely to join NATO. ③ Ukraine has not yet signed the rare earth agreement and hopes that the agreement can be signed immediately. ④ It is foreseeable that the United States will conduct commercial cooperation with Ukraine and Russia after reaching an agreement. 2. Russian Foreign Minister: Russia is "ready to reach an agreement on Ukraine." 3. Russian Presidential Assistant Ushakov: Russia and the United States will continue to maintain active dialogue. 4. Russian Presidential Assistant: Putin discussed the possibility of resuming direct negotiations between Russia and Ukraine with the US envoy. 5. The differences between the United States, Europe and Ukraine are clear. The documents show that European countries and Ukraine have raised objections to some of the US proposals to end the Russia-Ukraine conflict. 6. Market news: As part of the peace agreement, the United States asked Russian President Putin to abandon the demilitarization requirement. Other situations: 1. President of Hungarys OTP Bank: We hope to return to all business areas in Russia after the (Russia-Ukraine) conflict ends. 2. Ukrainian President Zelensky: US ground forces are not necessary for Ukraine. 3. Trump said Crimea will remain in Russia, Zelensky: Never recognize it. Agreeing with Trumps view, Crimea cannot be recovered by force. 4. NATO Secretary-General Rutte met with Trump and senior US officials to discuss defense spending, NATO summit, and the Ukrainian conflict.Rising global trade risks, overall policy uncertainty and the sustainability of U.S. debt top the list of potential risks to the U.S. financial system, according to the Federal Reserves latest financial stability report released on Friday. This is the first time the Fed has conducted a semi-annual survey on financial risks since Trump returned to the White House. 73% of respondents said that global trade risks are their biggest concern, more than double the proportion reported in November. Half of the respondents believe that overall policy uncertainty is the most worrying issue, an increase from the same period last year. The survey also found that issues related to recent market turmoil have received more attention, with 27% of respondents worried about the functioning of the U.S. Treasury market, up from 17% last fall. Foreign withdrawals from U.S. assets and the value of the dollar have also risen on the list of concerns.

Shiba Inu (SHIB) Sees Breakout Above Key Downtrend as Dogecoin (DOGE) Consolidates Below $0.000012

Alina Haynes

Jul 11, 2022 11:35

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In the light weekend trade on Saturday, the majority of the main cryptocurrencies are in a consolidation phase. The majority of the major cryptocurrencies, however, appear to be ending the week with good gains and not far from highs. Despite a surge in US rates and the Fed tightening expectations due to positive survey data on the US service sector and jobs market, sentiment improved this week.

 

The price of bitcoin was most recently settling at $21,500, having gained over 12% this week. That indicates that the market value of the company is presently about $413 billion. Following a pennant breakthrough earlier in the week, the cryptocurrency gained momentum. It even reached a high of $22,400 at one time, but it was unable to hold onto a $22,000 handle.

 

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Ethereum, on the other hand, was last seen trading well supported around the $1,220 region and was up approximately 14% this week. The second-largest cryptocurrency in the world by market cap recently had a value of slightly under $150 billion. The current market capitalization of all cryptocurrencies was about $935 billion, up over $80 billion or 10% over the previous week.

Prediction of Dogecoin's (DOGE) Price

On Saturday, Dogecoin was consolidating just below the $0.07 mark. The cryptocurrency is up approximately 1.3 percent today, and it has gained roughly 4.0 percent over the past week.

 

The pair has been consolidating in low trading volume after its unsuccessful effort to move above its 50-Day Moving Average at $0.072 on Friday. But since late June, an uptrend that has been supporting it has been leading DOGE/USD upward.

DOGE/USD remains on a downward trend

This indicates that Dogecoin will probably retest its 50DMA during the next few of days. However, resistance in the shape of this week's highs and a long-term downtrend will be difficult for the bulls to overcome beyond there and around $0.073/$0.074.

 

In fact, DOGE/USD has been unable to break out of its downtrend since mid-May. It will be interpreted as a hint that the gloomy trend of the previous two months is about to resume if the cryptocurrency does lose momentum in the coming days.

 

If DOGE were to subsequently breach the aforementioned short-term support trendline, a decline back towards the low-$0.60s would be possible. Beyond there, the Dogecoin bears would probably aim for a test of the $0.05 region's yearly lows.

 

However, if the atmosphere in cryptocurrency markets stays positive, as it did this week, then such a decline is improbable. If that's the case and DOGE manages to break through the long-term downtrend, it may be headed in the direction of late-June highs around $0.08. 

Prediction of the Shiba Inu (SHIB) Price

This weekend, the Shiba Inu bulls are still in charge and hoping to cap off a successful week. SHIB was last trading just under $0.00012, just below a crucial region of short-term resistance, and was up more than 5.0 percent on the day.

 

The most recent rise has caused SHIB to trade 17.5 percent higher this week. This makes it one of the top 20 cryptocurrencies by market capitalization this week with the best performance.

 

Over the previous two weeks, SHIBA/USD seems to have established an ascending triangular pattern. These patterns frequently come before bullish breakthroughs. That would entail a firm ascent over the $0.000012 barrier for SHIB/USD.

 

Of course, the late-May highs between $0.0000125 and $0.000013 would soon present resistance to the pair. The door would be open to a run all the way higher to the $0.000017 region, though, if it were able to pass through these tiers. There isn't much in the way of meaningful opposition to halt such a move.


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