The feeling of negotiation moves as the price decreases

TLDR

• Doge Price fell at $ 0.23, marking a weekly drop of 8.55% in a more broad uncertainty of the market
• Historical analysis shows a correction model of 53 to 65% before major overlaps
• Market feeling indicators suggest an increase in lowering positioning with a longtime ratio at 0.87
• The level of $ 0.30 remains a key technical obstacle for potential optimistic momentum
• The recent price point to additional possible $ 0.20 level of support

Monday’s negotiation session reveals continuous pressure on Dogecoin while the popular cryptocurrency is negotiated at $ 0.23, recording its second consecutive week of losses. Market data show a drop of 8.55% in the last seven days, which has aroused renewed attention to traders and analysts.

Recent market indicators paint an interesting image of the feeling of traders. The longtime ratio, a key metric to understand the positioning of the market, is currently at 0.87, indicating a clear preference for short positions among active traders.

Trading models during the last month show a series of lower ups and lower stockings, forming a descending channel that traders look closely. The price action follows the rejection of the level of $ 0.27, which represents a retracement of 50% compared to the price movement last year.

Technical analysis reveals several key levels that market players monitor. The most immediate support zone is $ 0.20, corresponding to the bases at the beginning of February. This level drew increased attention while the downwind pressure continues to go up.

Market observers note that the current price action reflects the previous correction phases. Historical data show that Dogecoin generally experiences withdrawals ranging from 53% to 65% during bull market cycles before launching new upward movements.

Technical analysis

The volume analysis provides additional information on market dynamics. Recent trading sessions have shown a drop in purchase pressure, sellers keeping control of the short -term price department. This model often precedes prolonged consolidation periods.

The weekly graph highlights the importance of the threshold of $ 0.30, which coincides with several technical indicators, including the Haussier market support strip. Analysts suggest that the closures supported above this level could arouse a renewal of purchase interest.

Momentum price indicators on the daily delay show an increasing down pressure. The relative force index (RSI) currently reads 32, approaching the territory of occurrence but not yet indicating an immediate reversal signal.

The analysis of the market structure reveals that Dogine’s The price movement continues to correlate strongly with the wider trends in the cryptocurrency market. This relationship suggests that the global feeling of the market will play a crucial role in determining the future price orientation.

The commercial data of major exchanges show an increase in short positions in last week. This positioning could lead to net price movements if market conditions change unexpectedly.

The technical models suggest that the slightest resistance path remains downwards in the short term. However, analysts note that historical correction models indicate potential support at current levels.

The daily graphus shows a clear rejection of the retrace level of 50% to $ 0.27, calculated from August 12 of the lowest $ 0.05 at December 2 of $ 0.48. This rejection has strengthened the current lower feeling.

Market players closely monitor volume profiles at key price levels. The $ 0.20 support area shows historical purchasing interests, making it a critical level for the potential price stabilization.

Recent negotiation sessions have shown a reduction in volatility compared to previous weeks. This compression in the price movement often precedes greater directional movements, adding importance to current support levels.

The analysis of the price action indicates that buyers must recover the level of $ 0.30 to move the market structure to a more optimistic perspective. Until then, traders remain cautious about the potential more downwards.