Dogecoin is negotiated below key levels after dropping by more than 10% after the upward price action last night. The parts market even continues to fight and Dogecoin is no exception. Since the end of January, Doge has failed to recover previous peaks and has regularly set lower prices each week. Investors become cautious because the sales pressure remains strong, preventing any significant recovery.
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Despite the recent slowdown, some analysts remain optimistic about the long -term Doge prospects. The superior analyst Carl Runefelt shared a technical analysis on X, showing that Doge recently released a long -term fall corner model and holds it now. Historically, the fall in covered eruptions has led to significant increases, provided that the escape is confirmed.
If Dogecoin holds firm Above this key level and successfully confirms the escape, a massive price movement could follow, potentially reversing the downward trend. However, non-compliance with this level could lead to new drops, pushing Doge in lower demand areas. The next few days will be crucial to determining the short -term price management of Dogecoin while the traders ensure confirmation of the escape or signs of another slowdown.
Investors continue to sell Dogecoin: can this change?
Dogecoin faces a crucial test while trying to break above the key resistance without falling below the critical demand levels. The bulls are now working to recover a lost territory which could ignite a significant gathering, but the price of the prices remains uncertain in the short term.
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The parts market even underwent intense sales pressure, and Dogecoin had difficulty establishing high demand despite multiple escape attempts. Investors are watching closely for signs of strength, but so far, the bulls have failed to generate the necessary momentum for a sustained recovery.
Runefelt technical analysis Reveals that Doge recently released a long -term falling area and is now the Rettester. Historically, the fall in covered eruptions has led to explosive price movements, provided that the calendars are taken. Runefelt has set a price target of $ 0.434 in the coming weeks if the break remains intact.
However, despite this upward configuration, there is no clear direction for the wider market of cryptography as long as Bitcoin remains below the $ 100,000 level. The BTC opening the way to the entire industry, the pieces even as Dogecoin are likely to follow the Bitcoin movements. If BTC recovers key levels, DOGE may undergo a rapid price increase, but continuous uncertainty on the market could limit its increase in increase.
Doge tests short -term liquidity
Dogecoin is negotiated at $ 0.21 after a solid rally of 33% in the past few days. The bulls have gained a slight advantage, pushing the price above the levels of keys resistance. However, for DOGE to maintain the momentum, he must keep above the critical bar of $ 0.20, which now serves as short-term support.
If the Bulls successfully recovered $ 0.255 in the coming days, Dogecoin could see a significant escape, leading to a massive recovery phase. A movement above this level would confirm a bullish reversal and potentially trigger additional purchase pressure, sending DOGE to higher resistance areas.
However, the market remains volatile and losing the level of $ 0.20 could quickly reverse recent gains. If DOGE does not hold this support, a drop of 15% could follow, bringing the price back to lower demand areas. Merchants are looking closely at the Bitcoin movement, because any major BTC sale could have an impact on the parts even, including Dogecoin.
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For the moment, the Doge Bulls have control, but they must continue to defend the key levels to maintain the current trend. A decisive movement in both directions will set the ground for the next major Dogecoin movement.
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