- The DOGE price table on the one hour delay revealed a symmetrical triangle, consolidating between $ 0.236 and $ 0.224 before decomposing.
- Doge’s volatility data, followed in the 4 -hour table, have shown a drop in trend in the last 24 hours.
DOGECOIN (DOGE) Recently showed a significant price movement, coming out of a symmetrical triangle model.
The analysis of Dogecoin prices on the one hour delay revealed a symmetrical triangle, consolidating between $ 0.236 and $ 0.224 before decomposing.
Source: Ali graphics
This invalidated the bullish target of $ 0.197. The 4 -hour graph confirmed the bearish momentum, with Dogecoin below critical support levels.
Fibonacci’s retracement analysis has shown that DOGE tested the level of 61.8% to $ 0.218 before continuing down.
The MacD indicator reflected a lower feeling, the MacD line crossing the signal line and the histograms becoming red, at the time of the press.
Source: Coringlass
In addition, the Cumulative Delta (CVD) volume on the 4 -hour graph culminated at -7.64b, signaling high sales pressure.
These factors align with the downstream break in the triangle, canceling the initial projection on the rise and reinforcing the momentum down.
Do merchants lose confidence in Doge?
Doge’s Spot Netflow Data in the past 24 hours, as shown in the graph to 1 day, reflected substantial outings totaling – $ 3.1 million. The red bars have dominated the graph, indicating strong sales pressure.
Source: Coringlass
This model started in mid-February. On February 24, a major exit increase was observed, coinciding with the drop in Doge prices below $ 0.22.
The Netflow graph reflected the price of the prices while DOGE went from $ 0.2511 to $ 0.2123. Netflows negative coherents suggested that investors have left the positions, reducing support for purchase. This invalidated the initial objective of 0.197 budgetary.
Without a renewal of purchase interest, DOGE remains vulnerable to the movement of the descent.
Stabilization or weakness of the market?
In addition, Doge’s volatility data, followed in the 4 -hour table, have shown a downward trend in the last 24 hours. The volatility index dropped to 0.23155, indicating a reduction in price fluctuations.
Source: Coringlass
The graph displayed a constant drop in volatility, with DOGE stabilizing almost $ 0.2123 after its net drop. This drop in volatility followed the rupture of the symmetrical triangle, strengthening the lowering feeling.
A lower volatility environment often indicates that traders have interrupted aggressive market activity, reducing the probability of net rebounds.
Combined with Netflow trends and prices’ action, reduced volatility of Doge confirms a lower market position. Traders are now focusing on potential support levels around $ 0.20.
What is the next step for Doge?
The recent action of Doge prices, the decrease in Netflows and reduced volatility point to a short -term perspective. The degradation of the symmetrical triangle, the current outputs and the activity of the mute market suggest that the pressure downwards would probably persist.
If the sale of the momentum continues, DOGE could test the support at $ 0.20. Larger market trends and the feeling of memes will determine if a recovery follows.
Similar eruptions in altcoins led to prolonged corrections before finding solid support areas.
Although the long -term Doge’s long -term trajectory can always promote upward movements, the immediate structure of the market suggests consolidation or additional drop before any significant recovery.