As a seasoned crypto investor with battle-tested nerves and a hearty appetite for digital gold, I’ve seen my fair share of market swings – from the dizzying heights to the crushing depths and everything in between. Today’s news about DOGE‘s 6.66% correction over the last 24 hours has me neither elated nor disheartened.
Some cryptocurrencies have already entered a correction phase, according to CoinMarketCap.
DOGE/USD
The rate of DOGE has fallen by 6.66% over the last 24 hours.
On an hourly basis, the value of Dogecoin (DOGE) could potentially have established a temporary floor around $0.3512. Should the trend persist, a challenge to the day’s resistance at approximately $0.4160 may occur by the end of the trading session.
From my perspective as an analyst, if the current trend persists until the end of today, it seems likely that Dogecoin (DOGE) will continue to trade within yesterday’s daily range. This would suggest a period of sideways movement, with potential prices hovering between approximately $0.32 and $0.42.
As a crypto investor, I find myself cautiously optimistic about the short-term future, but I’m holding off on making long-term predictions just yet. With the bar closing in a matter of days, it seems prudent to focus my attention on the immediate situation and adapt accordingly.
Should the price reach or surpass the region around 0.4385 (slightly above 0.40), there could be an opportunity for a breakout in the level, which might then lead to a test within the range of 0.45-0.50.
DOGE is trading at $0.3796 at press time.
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2024-11-13 15:26