- The Dogecoin price fell on the request zone of $ 0.300.
- Doge Price has decreased by 22% in the past two weeks.
The Dogecoin price (DOGE) has undergone sales pressure on the territory of $ 0,400 and has witnessed the sales pressure. The Dogecoin price dropped by 22% in just two weeks, falling to the request zone of $ 0.300. Since mid-December, the token has defended the $ 0.300 area.
The price of the Doge could reach $ 0.34: analysts weigh
The Dogecoin price experienced a sharp increase before meeting technical resistance at $ 0.34. This is probably a crucial area where the token could not stabilize and resume its upward trend.
According to the cryptocurrency analyst Ali Martinez, the Mediating prices slightly fell. He oscillated just below the objective of $ 0.36 due to the inability to maintain the momentum above this level.
Due to its proximity to the level of Fibonacci retracement of 38.20% of the current market, the level of $ 0.34 is particularly significant.
Many traders carefully monitor pricing because the DOGE remains in this resistance area. They try to determine whether a recovery, an additional decline or a Doge price is imminent.
The funding rate has increased in Dogecoin
However, according to the most recent data, the DOGE financing rate was still 0.0088%positive. This also indicated that the feeling of the market is still very optimistic.
A positive funding rate has stressed that long expects an upward movement soon and are ready to pay more to occupy long positions. This sustained confidence on the market is crucial because the bulls will probably try to push the market higher soon, especially if $ 0.30 is valid.
Therefore, if the bullish momentum continues, DOGE can be ready to return to the bar of $ 0.36. The price of Dogecoin could increase even more at other levels of resistance.
The price of Dogecoin is lower; Can it bounce back from the request zone?
Dogecoin crypto was negotiated at $ 0.323 at the time of the press, which dropped by 1.42% in the last 24 hours. The market capitalization was around $ 47.88 billion and the 2 -hour negotiation volume was $ 1.77 billion. Doge Crypto is the largest piece of memes in terms of market value.
Based on the graph, the DOGE price has displayed sales pressure in recent weeks. In the midst of this lower decision, the price was approached by the request zone. Based on the historic table, buyers expressed their interest in the request area and the price worked positively.
Buyers can dominate in advance if the Dogecoin price receives a purchase pressure in the request area. This could be a bullish signal once the price goes away from the request zone. A strong bullish momentum can be seen if the price of the token exceeds the 20 -day EMA.
On the other hand, if the price dives below the significant level of support of $ 0.300, it could be a sale opportunity. Massive sales pressure can be anticipated if the price is maintained below the bar of $ 0.300.
Within 4 hours, the price of the DOGEs formed a reason of ascending triangle. He triggered ventilation and should fall into the request zone. After ventilation, the price left the short -term resistance area of $ 0.34.
Non-liability clause
This article is for information purposes only and does not provide any financial advice, investment or other advice. The author or any person mentioned in this article are not responsible for any financial loss which may occur by investing or negotiating. Please do your research before making financial decisions.
Varuni has been in the web3 space for half a decade, witness to the changing DLT, blockchain and web3 dynamics. With 8 years of journalistic expertise, she is strongly interested in emerging technology and their impact on society. She has published news and chain analysis articles on the NASDAQ as well as in some of the best new crypto companies. Currently, she heads the republican corner as editor -in -chief.