The recent movement of Dogecoin prices shows a classic battle between bears and bulls, the cryptocurrency of meme finding stability after a significant decrease trend.
The part experienced a drop of 9.7% from $ 0.237 to $ 0.214 before buyers intervened at key support levels. This purchase pressure has created what analysts describe as a “hold of the panic area” around the bar of $ 0.215, which has so far firmly firm against sales pressure.
The structure of the market indicates that DOGE is currently navigating in a falling corner model, generally considered as a bullish inversion formation when it is broken upwards.
The Ichimoku cloud on short -term graphics shows the price in equilibrium territory, with several technical indicators converging to create close reference levels between $ 0.212 and $ 0.225.
For merchants, the emphasis is placed on the question of whether Doge can exceed the descending descending resistance almost $ 0.219 to $ 0.220. A decisive decision above this level could target the range from 0.235 to 0.244 $, while non-compliance with the current support could see prices with $ 0.20, or even $ 0.185 in the short term.
Strengths of technical analysis
- DOGE formed a descending channel with a clear resistance at $ 0.235, where the sales pressure has become constantly.
- A notable support zone developed about $ 0.215 to $ 0.217, confirmed by an increased volume during 1:00 p.m.
- V -shaped V model formed with the background at $ 0.215 around 13:14, followed by regular accumulation.
- The volume has increased considerably to more than 10 million units around 1:30 p.m., triggering a net ascending movement.
- A new support area established at $ 0.218, with several high volume candles confirming a strong purchase interest.
- The overall price of the prices suggests a lower momentum with intermittent consolidation phases.
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