TLDR
- Dogecoin (DOGE) currently negotiating at $ 0.23, down 8.55% in last week with a continuous pressure pressure
- The longtime ratio at 0.87 indicates that more traders are betting on the drop in prices
- The technical analysis suggests a potential decrease to $ 0.20
- Historical data show that DOGE generally experiences corrections from 53 to 65% before major overlap
- $ 0.30 identified as the key level required for a potential optimistic reversal
Dogecoin (DOGE) continues its downward trend, trading at $ 0.23 on Monday, February 24, 2025, marking a drop of 8.55% in last week. The popular cryptocurrency faces assembly pressure as market indicators and the feeling of traffic will indicate potential declines.
Current trading data reveals a clear change in market positioning, the long -standing ratio of quince falling at 0.87. This metric indicates that more traders take short positions, betting on additional short -term price reductions.
The price action follows a rejection of the level of $ 0.27 last week, which represents a retracement of 50% of the lowest August 14 of $ 0.05 at the December 2 summit of $ 0.48 . This technical rejection added to the lowering momentum on the market.
The daily analysis of the graphics shows the reading of the relative resistance index (RSI) to 32, approaching the conditions of Surolon at 30 years. Although this suggests a strong downward dynamics, it also indicates that the sales pressure could approach exhaustion levels.
Mediating prices
Historical data provide a context for the current market situation. Previous cycles of the Haussier market show that Dogecoin generally undergoes substantial corrections ranging from 53% to 65% before launching new upward movements. The current correction is part of this historic model.
Technical analysts identified $ 0.20 as a crucial level of support, corresponding to the lowest of February 3. This prize has become a goal for merchants while cryptocurrency continues its descent from recent summits.
Analysis of the volume of the main exchanges indicates a drop in purchase pressure during recent negotiation sessions, sellers taking control of the short -term prices department. This model often precedes prolonged periods of price consolidation.
The price level of $ 0.30 has become a key technical obstacle for potential optimistic momentum. Market technicians suggest that the weekly closures supported above this threshold could arouse a renewal of purchase interest and potentially move the structure of the market.
Reduction of volatility
Recent negotiation sessions have shown a reduction in volatility compared to previous weeks. This compression in the price movement generally precedes greater directional movements, adding importance to current support levels.
The weekly structure of graphics shows a series of lower ups and lower stockings, forming a descending channel that traders watch closely. This technical model supports the current lower lower bias on the market.
The commercial data of major exchanges reveal an increase in short positions in last week. This positioning could lead to net price movements if market conditions change unexpectedly.
The analysis of the market structure shows The price of this dogecoin The movement maintains a strong correlation with wider trends in the cryptocurrency market. This relationship suggests that the global feeling of the market will play a key role in determining the future price orientation.
Momentum indicators of prices on the daily delay continue to show an increasing down pressure, although they have not yet reached levels which generally signal immediate reversal points.
The volume profiles at key price levels show historical purchase interests around the support area of $ 0.20, making it a critical level for the potential price stabilization.
Technical perspectives suggest that the slightest resistance way remains short in the short term, the level of $ 0.20 serving as the next major support targets for merchants.