As a seasoned crypto investor with a few gray hairs to show for it, I’ve seen my fair share of market fluctuations. Today’s DOGE surge, while exciting, has me cautiously optimistic. With a career that’s been more volatile than a rollercoaster ride at Coney Island, I’ve learned the hard way not to get too carried away by short-term gains.
Most of the coins have returned to the green zone, according to CoinStats.
DOGE/USD
The rate of DOGE has risen by 25.6% since yesterday.
Regardless of today’s surge, the Dogecoin price appears to be trending downwards on the hourly graph. After a misleading breach of the $0.3487 resistance level, the rate has started to decrease.
If the correction continues, traders may expect a test of the support level by tomorrow.
Looking ahead on a larger time scale, the candle is nearly finishing with a long wick, which is a sign that bears might be in control. If conditions don’t improve before the end of trading today, a possible retest of the $0.28 to $0.30 range could occur soon.
Looking at the midpoint, traders should focus on whether the candles close near the $0.2724 mark. If they close significantly away from this point, a potential delay in further price drops may occur.
DOGE is trading at $0.3252 at press time.
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2024-12-21 16:37