As a seasoned researcher with extensive experience in the cryptocurrency market, I’ve seen my fair share of ups and downs. The current trend, however, is particularly concerning, as evidenced by the 5% decline in DOGE‘s rate over the past day.
The cryptocurrency market keeps falling, according to CoinStats.
DOGE/USD
The rate of DOGE has declined by 5% over the previous day.
As a crypto investor, I’m closely monitoring the hourly chart for DOGE. The price currently hovers around the local support level of $0.1322, giving off a bearish vibe. If this trend persists until the end of the trading day, there’s a possibility that we could see a breakthrough and a subsequent drop to the $0.13 zone.
On the daily chart, a comparable occurrence has been noted. If the candle concludes near the current levels, it’s likely that a corrective phase towards the support at $0.1252 will ensue. This situation holds true until the end of the week.
Based on the midpoint perspective, the DOGE token price is nearing the significant threshold of $0.1260. A breach above this level could potentially trigger a sell-off, pushing the price down towards the $0.10 range due to accumulated market pressure.
DOGE is trading at $0.1343 at press time.
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2024-04-30 19:09