Bitcoin Shows 0.76% Kimchi Premium in Korean Market
- Bitcoin Price Increase: As of December 31 at 12:00 AM KST, Bitcoin (BTC) was trading at 128.82 million KRW on South Korea's Upbit exchange, up 1.31% from the previous day, indicating strong market demand that may attract more investors' attention.
- Global Price Discrepancy: On the global exchange Binance, BTC was priced at 127.84 million KRW, resulting in a price gap of 0.98 million KRW, highlighting the uniqueness of the Korean market and the willingness of investors to purchase, which further boosts local market activity.
- Other Cryptocurrency Premiums: Ethereum (ETH) recorded a kimchi premium of 0.74%, while other major altcoins like Solana (SOL) and XRP showed premiums of 0.76% and 0.65% respectively, indicating rising demand for these assets that may influence investors' asset allocation strategies.
- Market Trends: Most top altcoins are trading with premiums in the range of 0.6% to 0.8%, reflecting sustained investor interest in the cryptocurrency market, which could lead to increased capital inflow into the sector and drive overall market growth.
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Technical Analysis for DOGE
Technical Sentiment Analysis for Dogecoin (DOGE) As of , Dogecoin (DOGE) is exhibiting a Strong sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 0 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for DOGE stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, DOGE is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Dogecoin (DOGE) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0521 | 0.0661 | 0.0827 | 0.0966 | 0.113 | 0.127 | 0.144 |
| Fibonacci | 0.0661 | 0.0777 | 0.0849 | 0.0966 | 0.108 | 0.115 | 0.127 |
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