Dogecoin Breaks Key Support Level
- Whale Accumulation: In the last 96 hours, whales accumulated 160 million DOGE worth approximately $18 million, drawing fresh attention to Dogecoin's breakout attempt and indicating increased confidence among large holders.
- Price Movement Analysis: DOGE rose 4% in the past day and gained 14% over the past week, clearing the key $0.109 support level, which, if maintained, could lead to a further rise towards $0.114; however, a drop below this level may indicate a failed breakout.
- Market Sentiment Boost: Bitcoin also surpassed $80,000 during the same period, enhancing overall crypto market sentiment, particularly as DOGE's trading volume reached $1.77 billion, reflecting heightened market interest.
- Large Transaction Records: Santiment data revealed 739 transactions over $100,000 in a single day, indicating sustained interest from large holders, who now control 108.52 billion DOGE, marking a record high and suggesting a strong bullish sentiment in the market.
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Technical Analysis for DOGE
Technical Sentiment Analysis for Dogecoin (DOGE). As of , Dogecoin (DOGE) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 8 technical signals, shows that 3 indicators are flashing buy, while 5 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 crypto.
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 | 0.0801 | 0.0885 | 0.097 | 0.105 | 0.114 | 0.122 | 0.131 |
| Fibonacci | 0.0885 | 0.095 | 0.099 | 0.105 | 0.112 | 0.116 | 0.122 |
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