Watch mixed signals such as price tests of $ 0.185

TLDR

• Dogecoin experienced a daily drop of 10%, pushing the price to $ 0.185
• The recent classification of the dry of coins because collectibles open up a new regulatory clarity
• Technical analysis shows the formation of a cup and handle model almost $ 0.169
• Historical RSI levels correspond in March 2023
• Polymarket indicates a high probability of approval from the ETF DOGE by July 31

The cryptocurrency market has experienced another spectacular turn when the price of Dogecoin slipped below the crucial threshold of $ 0.20, currently distorting $ 0.185. This movement represents a sharp drop of 10% in the last 24 hours, extending to a larger decrease of 26% during the week.

The market players closely followed the action of DOGE prices, in particular in the light of recent regulatory developments. The recent Clarification of the SEC concerning the parts even established these digital assets as collectibles rather than titles, marking a central moment in the regulatory landscape.

Commercial data reveal an increase in sales pressure between the main exchanges, contributing to the downward price movement. The current price level of $ 0.185 represents a hollow of four months for popular cryptocurrency, testing the resolution of long-term holders.

The technical analysis of the daily graphic shows that the RSI (relative force index) falling to 23, the corresponding levels for the last time during the banking crisis of March 2023. This technical indicator suggests extremely occurred conditions, although historical data show that such levels can persist in highly lower markets.

The formation of a potential cup and handle pattern near the level of $ 0.168,96 drew the attention of market analysts. This technical structure, if validated, could indicate a possible trend reversal in the coming weeks.

The feeling of trafficking, measured by the market value ratio on the value achieved (MVRV), indicates that current holders are confronted with unpaid losses of around 20%. This metric has historically served as a reliable indicator for market funds, although current conditions remain uncertain.

Despite the drop in prices, Polymarket data suggests growing confidence in potential approval of DOGE ETF. The platform displays a record probability of approval by July 31, representing a potential catalyst for a future price action.

The cryptocurrency price movement has broken several levels of support, leading analysts to look at the brand of $ 0.12 as the next crucial support area. A violation below this level could potentially trigger additional sales pressure.

Analysis of the negotiation volume shows increased activity during the recent drop in prices, indicating active market participation. This high volume suggests a strong conviction behind the current market movement, although management remains mainly down.

Market analysis

Market observers note that, although the classification of parts even of the SEC as non-security gives regulatory clarity, the immediate impact of the market has been limited by wider market conditions. This development could have longer -term implications For Doge Market position.

The daily analysis of the graphs reveals a coherent downward trend, the action of prices not having maintained support for previous key levels. This technical rupture contributed to the current lowered feeling.

Long-term holders seem to maintain their positions despite the drop in prices, suggesting underlying confidence In Doge future perspectives. This model of behavior often precedes market reversals, although timing remains uncertain.

The level of $ 0.16896 has become a key price for merchants and analysts. This level could prove to be decisive to determine whether the current downward trend continues or reverses.

Reading RSI in occurrence generally suggests rebounds in potential prices, but current market conditions have not yet supported a reversal. Historical data show similar RSI levels during the main market events, including the March 2023 banking crisis.

The increased probability of FNB approval, combined with the regulatory clarity of the dry, has an interesting dynamic for the future action of Doge prices. However, the immediate feeling of the market continues to promote downward pressure.