Dogecoin Price Hovers at Key Support Level

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 1 hour ago

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Price Fluctuation Analysis: Dogecoin's price briefly dipped to $0.0997 after approximately $16.4 million in long positions were liquidated, but rebounded to $0.103, indicating the market's defensive capability around the key support zone of $0.100 to $0.102, suggesting bulls are still striving to maintain stability.
Technical Indicator Observation: Currently, Dogecoin trades below the 100-day simple moving average at $0.108, which slightly tilts short-term pressure towards sellers, although the relative strength index (RSI) around 46.56 indicates the market is in neutral territory and not fully bearish yet.
Market Sentiment and Whale Activity: Following the drop below $0.10, whales have continued to accumulate Dogecoin, indicating that large buyers are removing liquidity during panic, thus creating stronger support zones, although market sentiment remains highly volatile and could reverse at any moment.
Future Outlook and ETF Impact: If Dogecoin can break above $0.108 with strong volume, traders may target $0.112 and previous highs of $0.118-$0.120; conversely, a drop below $0.100 could lead to a retreat towards the support area of $0.095-$0.098.

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Technical Analysis for DOGE

Technical Sentiment Analysis for Dogecoin (DOGE). As of , Dogecoin (DOGE) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 6 technical signals, shows that 3 indicators are flashing buy, while 3 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	0.0761	0.0867	0.0962	0.107	0.116	0.127	0.136
Fibonacci	0.0867	0.0944	0.0992	0.107	0.115	0.119	0.127

About DOGE

Dogecoin (DOGE) is based on the popular 'doge' Internet meme and features a Shiba Inu on its logo. The open-source digital currency was created by Billy Markus from Portland, Oregon and Jackson Palmer from Sydney, Australia, and was forked from Litecoin in December 2013. Dogecoin's creators envisaged it as a fun, light-hearted cryptocurrency that would have greater appeal beyond the core Bitcoin audience, since it was based on a dog meme. Tesla CEO Elon Musk posted several tweets on social media that Dogecoin is his favorite coin.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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