- Dogecoin tests support from $ 0.19 to $ 0.16, whales buying 110 million Doge, suggesting potential accumulation.
- Resistance at $ 0.2556 and $ 0,2650, as well as RSI and MacD signals, indicate the downward pressure.
- The prospects are neutral lowering, with an additional drop possible if DOGE does not hold a support of $ 0,2400.
DOGECOIN ($ DOGE) recently experienced a certain volatility, fighting to maintain an upward momentum while facing a bearish pressure. A critical support zone emerged between $ 0.19 and $ 0.16, with Crypto Ali Martinez expert highlighting That if this support is valid, the objective of $ 3 for Dogecoin remains a strong possibility.
While the market looks closely, the activity of the whales adds an interesting turn, in the last 48 hours, the whales bought 110 million Dogecoin, which raises questions on potential accumulation and action of the prices of prices .
Technical analysis of Dogecoin
By currently negotiating at $ 0.2437, Dogecoin faced a significant bearish pressure. After failing to maintain key mobile averages, the 50 EMA, 100 EMA and 200 EMA are now acting as resistance levels, strengthening the dominant decrease trend. Despite recent difficulties, traders closely monitor the key levels that could report a change of momentum.
The key resistance levels for Dogecoin are $ 0.2,556 and $ 0,2650, while the critical support levels are $ 0,2400 and $ 0,2350. These levels will play a crucial role in the formation of the short-term price directorate of DOGE, because a rupture above the resistance could point out a potential bullish overth .
A more in -depth examination of the technical indicators reveals a lower bias for Dogecoin. The relative resistance index (RSI) is currently at 42, indicating a downward trend but not yet reaching the levels of occurrence. This suggests that if the market is negative, there can still be room for movement. The MacD shows a lower crossover, strengthening the momentum. In addition, the low volume of trading indicates a low purchase interest, which supports the overall lowering feeling.
The current prospects of the Dogecoin price are neutral hobby. For a bullish reversal, Doge should exceed the keys resistance levels of $ 0.2556 and $ 0,2650. However, if DOGE does not hold the support area of $ 0,2400, the price can continue to drop, opening the potential for the additional decline.
The action of Dogecoin prices remains uncertain, emphasizing the key support and resistance levels. The combination of lower lower and activity of the whale indicators creates a complex environment for investors. As always, traders must remain vigilant and prepare for any potential movement in both directions.
Related | Dry firm OpenSea probe, marking a victory for the NFT industry