As a seasoned crypto investor with battle scars from past market corrections, I’ve learned to expect the unexpected and remain calm during turbulent times. The recent correction phase, as indicated by CoinMarketCap, doesn’t faze me too much. However, it’s always the smaller coins like DOGE that seem to take the hit hardest.
The crypto market has entered a correction phase, according to CoinMarketCap.
DOGE/USD
DOGE is one of the biggest losers today, falling by 12.31%.
On an hourly basis, the Dogecoin price appears to have possibly established a temporary support around $0.3650. If the rate revisits this level, it could lead to a breakout, potentially triggering a further slide towards the range of $0.35 to $0.36.
On a larger time scale, it’s advisable for traders to concentrate on the $0.3512 as potential support. Should the downward trend persist and the closing price falls around this level, there may be sufficient accumulated momentum for a sell-off towards the $0.34 region.
Looking at the midpoint analysis, the Dogecoin (DOGE) price appears to be decreasing following an unsuccessful breach above the resistance level of $0.4385.
If the candle closes below $0.35, the ongoing decline may lead to a test of the $0.30-$0.35 range.
DOGE is trading at $0.3752 at press time.
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2024-11-26 17:05