Dogecoin Dege, the popular meme cryptocurrency, suffered a difficult night while immersing more than 10% in a sudden advantage that shook the markets.
The fall, from $ 0.226 to $ 0.202, occurred around midnight, coinciding with an increase in the volume of negotiation to 1.18 billion, highlighting a struggle between merchants who react to the widest irrantile of the market.
Although Dege achieved a modest rebound of its minimums, it remains stuck in a consolidation pattern between $ 0.202 and $ 0.206. This suggests that the market is taking a break after the initial shock, but merchants remain cautious, with volatility that goes out and does not arise a decisive direction.
The technical analysis shows that the duxes tests multiple levels of support during the blockade before establishing a key resistance to $ 0.217. It may be forming a potential double background pattern, giving some hopes to the bulls that observe a break towards $ 0.25 if Doge can collect enough impulse to overcome that resistance.
The open interest in Doge derivatives rose 2.89% to $ 2.71 billion, indicating that merchants are positioning for the next great movement. If that movement is up or down, it is still an open question, since the mixed feeling prevails throughout the market.
Technical analysis
- Doge fell from $ 0.226 to $ 0.202, a strong decrease of 10.6%.
- The most intense sale reached midnight (00:00), with a 5.5% drop in an exceptional volume.
- The key resistance has formed to $ 0.217, with broken support levels below.
- Consolidation between $ 0.202 and $ 0.206 indecision of the signal market.
- A brief recovery between 09:43 and 09:56 saw Dege go back to $ 0.205, but with low volume.
- Open interest growth points to merchants who prepare for a possible volatility peak.
As the dust sits, merchants and investors will closely observe the signs of a sustained rebound, or a deeper decrease, in the next few hours.
