![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
Dogecoin (CRYPTO: DOGE) price encountered a strong resistance at the $0.4000 mark on January 7th. Following this rejection, the token nosedived more than 11% within 24 hours.
With the current market sentiment overnight, the bear army attempted to breach the prompt support zone of $0.3300 to deepen the losses.
At press time, the Dogecoin price traded at $0.3477, noting a severe drop of over 11.28% in the past 24 hours. Its market cap has fallen to $51.3 Billion, ranking 7th among the top crypto coins.
Following a three-day consolidation, a breakdown was observed intraday, and bulls stayed on the back foot. However, the DOGE price action signified that it was still in a short-term uptrend.
Despite the minimal declines, the higher highs and higher lows structure was intact. That directed the bullish setup. Additionally, it has given successive ascending triangle pattern breakouts in the past sessions. Moving ahead, the token was riding another rally.
The first breakout led to sustained gains, consolidating near $0.25. A second triangle formed and broke upwards, targeting $0.75. Volume increased at each breakout, confirming buyer interest. Another triangle breakout above $1.5 could precede a rally toward the anticipated $5 mark.
An analyst named TraderTardigrade recently made a post regarding Dogecoin in their X post. He signaled that he would not short-sell the token at current levels.
According to the analyst, the Dogecoin price chart formed an ascending triangle pattern. Furthermore, the token retested the apex of the triangle. In case of a successful bounce above $0.4200, bullish swings toward $0.500 can be anticipated in the coming sessions.
The DOGE price seemed to be losing momentum on the hourly time frame analysis. DOGE’s RSI has declined below the midline at 48. This signaled that the momentum was weakening and a reversal might be looming.
However, the CMF readings still depicted significant capital inflows happening in the market. At press time, it was around 0.07.
Furthermore, the Advance Decline Ratio (ADR) slipped below the 1 mark. This signaled a sign of bearish sentiment, indicating that bears were starting to dominate. The shift in market sentiment has put investors in a dilemma.
Data from Coinglass showed that DOGE’s long liquidations have surged over 60% in just two days. With this, more than $4.50M worth of DOGE long positions have been liquidated.
The Long/Short ratio across major crypto exchanges highlighted forced selling pressure. This happened as more shorts have been added in the last 24 hours.
On Binance, 52% of the short contracts exist compared to 47% of longs. That caused the recent decline. Moreover, there is still a crucial liquidation zone below the current price.
If the Dogecoin price falls below $0.3300, these liquidations could put pressure further. Moreover, an extended decline could be seen. The Open Interest (OI) shed over 15.25% to $3.55 Billion alongside the Dogecoin price decline. That conveyed long, unwinding moves.
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
부인 성명:info@kdj.com
제공된 정보는 거래 조언이 아닙니다. kdj.com은 이 기사에 제공된 정보를 기반으로 이루어진 투자에 대해 어떠한 책임도 지지 않습니다. 암호화폐는 변동성이 매우 높으므로 철저한 조사 후 신중하게 투자하는 것이 좋습니다!
본 웹사이트에 사용된 내용이 귀하의 저작권을 침해한다고 판단되는 경우, 즉시 당사(info@kdj.com)로 연락주시면 즉시 삭제하도록 하겠습니다.
-
-
-
-
-
-
-
-
- NFL 헌법 파트 1 & 2의 연속
- 2025-04-02 13:30:12
- 돌고래 의이“포드”는 먹이를 막았습니다. 총 범죄로 리그를 이끌었습니다
-