As the liquidation of Crypto Market has increased to $ 1.6 billion in the last 24 hours, MEME COINS is increasing volatility. Dogecoin, the biggest meme coin, has decreased 8.6% over the last 24 hours.
However, Doge Price returned to $ 0.1482 after creating a 24 -hour minimum from $ 0.12984. Dogecoin suggests a strong recovery as the price decreases significantly in the venous candles.
If this recovery is executed in Dogecoin, the price of more than $ 0.20 is soaring? Let’s find out.
Dogecoin (DOGE) price analysis
In the daily chart, Dogecoin price behavior shows a weakness due to the strong resistance line. During the weekend, Dogecoin decreased 11.67% on Sunday.
This is an important weakening time of 38.20% Fibonacci level and local resistance line. If you drop to the lowest level of $ 0.12984, the supply pressure suddenly soared and registered the lowest Docoin price since October 26.
In addition, the 100 -day EMA line provides a negative crossover. This completes the sound alignment of the 50 -day, 100 and 200 days index moving average line. Therefore, the technical indicator triggers the sales signal of Dogecoin.
However, the low price rejection of patience candles emphasizes strong strength from 23.60% to $ 0.13729. When Dogecoin’s optimistic momentum is reinstated, Bulls is expected to be $ 0.1703 for the EMA line on the 20th.
This increases the likelihood that Dogecoin surpasses 38.20% of trend line brake out.
Dogecoin Futures
Due to the large -scale price fluctuations, the derivatives market has witnessed major shaking. As Dogecoin merchants witnessed a huge shaking out, the public interest decreased almost 11%, $ 13.5 billion.
In addition, the gradual increase in weakness reverses the financing rate into a negative area. The current rate of financing is 0.0003%.
This indicates a steep correction in 0.0087% peak. In particular, the long -term ratio has dropped to 0.9643 due to the gradual surge of short positions.
DOGE price target
From an optimistic point of view, Dogecoin’s recovery can be challenged to 50% fibonacci near the psychological mark of $ 0.20. On the other hand, the weak extension of the weaker than 23.60% Fibonacci will undermine the possibility of additional recovery.
In these scenarios, Dogecoin prices can collide $ 0.10 psychological support.
