The recent Dogecoin price movement shows a classic battle between bears and bulls, with the cryptocurrency meme finding stability after a significant lower trend.
The currency experienced a 9.7% drop from $ 0.237 to $ 0.214 before buyers intervened at key support levels. This purchase pressure has created what analysts describe as a “new test of the panic zone” around the $ 0.215 brand, which until now has remained firm against the sale of pressure.
The market structure indicates that Dege is currently sailing a wedge pattern that falls, usually considered a bullish investment formation when it breaks up.
The Ichimoku cloud in short -term graphics shows the price housed in equilibrium territory, with multiple technical indicators that converge to create adjusted reference levels between $ 0.212 and $ 0.225.
For merchants, the immediate approach remains in itself can break over the resistance of the descending trend line about $ 0.219- $ 0.220. A decisive movement above this level could be directed to the range of $ 0.235- $ 0.244, while the current lack of support could see that prices retire around $ 0.20 or even $ 0.185 in the short term.
TECHNICAL ANALYSIS
- Doge formed a descending channel with a clear resistance at the level of $ 0.235, where the sale pressure consistently arose.
- A remarkable support zone developed around $ 0.215- $ 0.217, confirmed by a higher volume during 1:00 p.m.
- The V -form of V form was formed with the fund at $ 0.215 around 13:14, followed by a constant accumulation.
- The volume significantly increased to more than 10 million units around 13:30, which caused an acute and ascending movement.
- New support zone established at $ 0.218, with multiple high volume candles that confirm strong purchase interests.
- The general price action suggests a bearish impulse with the intermittent consolidation phases.
External references
