As a seasoned researcher with extensive experience in analyzing cryptocurrency markets, I have closely monitored the recent developments of Dogecoin (DOGE). Based on the data and trends observed, it is clear that buyers have lost their momentum. The price of DOGE has seen a significant decline of almost 6% over the past day.
Buyers have failed to seize the initiative, according to CoinStats.
DOGE/USD
The rate of DOGE has declined by almost 6% over the last day.
On the hourly chart, the Dogecoin price hovers around the midpoint, with values fluctuating between the supportive level of $0.1221 and the resistant level of $0.1287.
As most part of the daily ATR has been passed, there are low chances to expect sharp moves soon.
After a bearish finish on the previous day, DOGE‘s downward trend persists. With no signs of a reversal in sight, the price could slide further and reach around $0.12 by week’s end.
Based on the mid-term perspective, buyers have been unable to sustain the uptrend following the bullish candle’s completion. Should buying pressure persist, a potential retest of the $0.11-$0.12 range could materialize in the upcoming month if this week ends without significant price improvement.
DOGE is trading at $0.1245 at press time.
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2024-07-25 18:56