Analysts publish a sales signal for Dogecone, targeting $ 0.179, $ 0.163 and $ 0.144, citing technical indicators in the midst of current prices.
DOGECOIN (DOGE) has experienced significant price fluctuations, cryptocurrency decreased sharply in recent days. In the past 24 hours, DOGE has dropped by more than 11%, extending its losses to almost 44% in the last 30 days.
The price now oscillates about $ 0.18, marking a substantial withdrawal from its heights earlier this year. Despite this slowdown, DOGE remains 90% in the past year, indicating that long -term investors are still in profit. However, the recent decline has put key pressure levels under pressure, which raises concerns about short -term prospects.
Short Dogecoin levels
In the middle of the current volatility, analysts on tradingView shared information on potential trading strategies. An analyst, PollBackSIGNAL, emitted A sales signal for DOGE / USDT on the one hour table.
The analyst suggests that traders should consider selling at the current price with a stop-loss set at $ 0.217.
The identified target profit levels are $ 0.179, $ 0.163 and $ 0.144. The analysis is based on conventional technical indicators, including pricing action candlesticks, fibonacci trace levels, RSIs, mobile averages, ichimoku clouds and Bollinger strips.
On the other hand, another analyst, exoce03, has identified A potential bullish configuration based on a falling corner model. According to the analysis, the market should reject resistance to the upper corner before forming a low stocking of $ 0.175.
The analyst provides an escape if the market conditions align. In addition, the level of $ 0.235 was highlighted as a key escape point, while a potential drop to $ 0.175 could offer an entry opportunity for long positions.
Opposition for purchase and profit opportunity
Procrypto23 also adopted a contrasting position, indicating The current price of this DOGE represents an attractive purchasing opportunity. The analyst indicates that DOGE is unlikely to drop a lot and has entered a long position at $ 0.18590, with a stop-loss at $ 0.18,200.
The target profit levels extend considerably higher, ranging from $ 0.78 to $ 2.00. In the midst of these forecasts, key data suggest a decrease in interest, which could lead to new drops.
Dogecoin open of decline
In particular, the open interest of Dogecoin for the term markets has dropped by more than 67% in the last three months. According to At Glassnode data, Dogecoin’s open interests increased from $ 4.07 billion on December 8 to $ 1.33 billion.
Open interests measure the total number of current contracts on derivative markets and are often used to assess the feeling of the market. A sharp drop in open interest generally points out a reduction in optimism among traders.
Difles: This content is informative and should not be considered financial advice. The opinions expressed in this article may include the author’s personal opinions and do not reflect the basic opinion of cryptography. Readers are encouraged to do in -depth research before making investment decisions. The Crypto Basic is not responsible for financial losses.