- Dogecoin exchanged $ 0.3,33,15, up 0.96%, with a key resistance at $ 0.35 and a support at $ 0.32.
- The accumulation of whales increases in the middle of the Dogecoin ETF Bitwise deposit, fueling market optimism.
- Doge follows the trends in the past cycle, signaling a potential escape if the momentum is maintained.
The Dogecoin price continued to negotiate in a consolidation phase, because its price has increased slightly during the last day. The token always had a downward trend. However, he still finds support for a lower beach with resistance to a crucial level.
Consequently, traders pay attention to the action of prices because recent examples point out that greater gains are possible. If the price of the Doge continues to grow, this is possible.
In addition, speculation of a DOGECOIN ETF has led to improved commercial activity. More important investors have been confident in digital assets.
Dogecoin price movement and keys resistance levels
In particular, the Dogecoin price was still linked to the beach. $ 0.35 was a critical level that was to be violated so that the Bulls won further.
The asset has not experienced significant changes and currently has the level of support at $ 0.32. This has further embarrassed the decline.
If the price of the DOGE crosses the resistance brand, a move to $ 0.40 can be observed. However, non-compliance with the upward trend may result in withdrawal from lower support levels, such as $ 0.30.
Technical analysis provided a neutral perspective, with the relative force index (RSI) to 47. The volume of trading has also increased as the cryptocurrency market continues to recover.
This meant that investors returned to the market. However, escape is based on the continuation of the purchase pressure and favorable economic factors.
Accumulation of whales and increasing speculation of the FNB
There was an increase in the number of institutional investors who bought Dogecoin. This has also led to speculation on the possible changes in the market.
The accumulation of whales paved the way for a dogecoin price rebound. This is particularly true when wealthy institutions and investors try to influence market feeling and liquidity.
Whale activity has increased in the recent past. This could indicate that whales have invested in Dogecoin for long-term yields when the cryptocurrency market is recovered.
In addition, Bitwise also deposited an FNB Dogecoin Spot, contributing to growing demand. He raised the question of whether institutions can play a role in the meme parts sector.
If it is approved, the FNB can improve investment in Dogecoin and increase liquidity and demand. FNB approval is still not conclusive. However, previous ETF approvals for Bitcoin and Ethereum have shown that FNB approval could cause high changes on the market.
Historical trends suggest a possible escape
In addition, mastiff price has also shown a tendency of sudden peaks in periods of relative stability. There are 3 clear trends in prices in the history of Dogecoin, each characterized by periods of consolidation and price peaks.
If history must repeat itself, the price of Dogecoin can be in the last phase of the third cycle, which could trigger another rally. The overall market conditions also influence this. These aspects include fluctuations in bitcoin prices, regulatory problems and macroeconomic factors that affect the Mediating prices.
At the time of the press, the token was negotiated at $ 0.33,315, up 0.96% in the last 24 hours. The price tested a support for almost $ 0.3235 before rebounding.
The immediate resistance remains $ 0.333, supporting the ascending momentum greater than $ 0.330. The increase in volume suggests a bullish feeling, although additional confirmation is necessary for an escape.
Non-liability clause
This article is for information purposes only and does not provide any financial advice, investment or other advice. The author or any person mentioned in this article are not responsible for any financial loss which may occur by investing or negotiating. Please do your research before making financial decisions.
