Global economic uncertainties and trade policy shifts are affecting cryptocurrency markets, with Dogecoin demonstrating resilience amid recent downward trends.
The meme coin has established a distinct bearish channel with resistance at $0.236, although robust buying at support levels suggests persistent investor confidence despite broader market issues.
Technical Analysis Highlights
- DOGE encountered a notable downtrend in the last 24 hours, dropping from 0.238 to 0.227, a decline of 0.015 (6.3%).
- The price movement has charted a defined bearish channel with resistance at 0.236 and support around 0.224.
- A surge in buying volume took place during the 23:00 hour, reaching 643M—well above the 24-hour average.
- Following the cycle low, DOGE formed a consolidation pattern within the 0.227-0.230 range, exhibiting reduced volatility.
- In the past hour, DOGE experienced considerable volatility with a clear downward trend, falling from 0.229 to 0.227 (0.87% decline).
- The price action displayed a series of lower highs and lower lows, with marked selling pressure observed at 13:35 and 13:56.
- A temporary support level emerged at 0.227, with buyers stepping in at 14:01, resulting in the hour’s peak volume of 4.5M.
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