Dogecoin (DOGE) has recently undergone significant sales pressure, undergoing a sharp decline of 10% in the last 24 hours. The popular cryptocurrency part fell below a critical level of support of $ 0.22136, reporting that the lowering feeling moved to the market. This price movement indicates that DOGE is likely to deal with new challenges because it continues to fight against increasing negative dynamics.
The Dogecoin Prix struggles in the middle of the lowering feeling
After reaching a summit of $ 0.46766 in December 2024, Dogecoin began to show signs of weakness, especially after failing the level of key resistance of $ 0.48. This failure triggered a descending spiral because the price has formed a series of lower stockings, breaking under key support levels, including the exponential mobile averages of 50 days and 200 days (EMA).
The continuous decline suggests that the former popular Altcoin has fallen into disgrace with investors, and the negative feeling of the market now dominates price action. The recent decrease of 10% in Doge’s price is the direct result of increasing sales pressure, and the price is now likely to go more down, unless a significant purchase volume between the market to reverse the trend .
Technical indicators indicate a downward momentum
Recent performance of Dogecoin is strongly influenced by lower lower technical indicators. One of the key signals pointing to additional declines is the relative resistance index (RSI), which is currently 26.44. This value indicates that DOGE is in a state of occurrence, and although the conditions of occurrence sometimes lead to price rebounds, the RSI remains below the simple 14 -day mobile average (SMA), indicating that bears control.
In addition, the divergence of mobile average convergence (MacD) has printed a “death crossover” and is firmly found in the negative zone, further supporting the lowering perspectives of Dogecoin. The MacD signal suggests that the sale of the momentum remains strong and could persist until the market finds a more favorable catalyst for recovery.
DOGE is currently negotiated at $ 0.20494, with a market capitalization of $ 29.72 billion. The 24 -hour negotiation volume has reached $ 2.7 billion, but this volume of trading seems to be motivated by a speculative activity rather than a sustained purchase pressure. This suggests that even if commercial activities are accelerating, the interest of investors for Dogecoin is currently limited and that reversal of the downward trend can be difficult without obstacles in substantial capital.
Can the price of Dogecoin recover?
Despite the current downward trend, it is always possible that Dogecoin will restore if he can unravel the EMA of 50 days, which has become a crucial level of resistance. If buyers can push the price above this level, this could point out the potential of a short-term rally or a consolidation greater than the support of $ 0.22136. However, this remains a distant possibility at the moment, because the bears are still in control.
Investors must be cautious and wait for confirmation of an escape before committing a new capital in the asset. If the price fails to recover key support levels, such as $ 0.18271 or $ 0.14690, DOGE could continue its downward trend towards lower levels. On the other hand, a thrust above 0.2596 could invalidate the lowering perspectives and allow a more durable recovery.
Conclusion
The recent decrease of 10% of Dogine highlights the growing sales pressure and the bearish momentum that seized the market. Cryptocurrency is currently struggling to maintain its position, with key technical indicators indicating additional drop potential. Although the feeling of the community remains mainly optimistic, prices’ action suggests that investors should remain cautious and wait for more favorable market conditions before making significant investments in Doge.
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