In the midst of market uncertainty, Dogecoin (Doge), a popular and the world’s largest crypto -Meme -Munt, seems to have difficulty getting Momentum. In the midst of this, a prominent crypto expert shared a message on X (formerly Twitter), which indicates that the meme coin on two key levels has resistance: $ 0.18 and $ 0.21.
In the meantime, the expert also noted that if Doge violates these resistance levels, a huge bull rally could follow.
Current price momentum
From now on, the Meme Munt is traded nearly $ 0.17, after he has registered a price destination of 2.75% for the past 24 hours. During the Traday trade, however, it reached a highlight of $ 0.175, but was confronted with a strong resistance, which led to a price reputation. In the meantime, the trading volume of the active period in the same period fell by 10%, which indicates lower participation of traders and investors compared to the previous day.
Dogecoin (Doge) Technical analysis and upcoming levels
According to the technical analysis of experts, Doge Beararish seems to be re -testing the demolition of a rising trend line. Based on a recent price promotion, if Doge refuses and closes a four -hour candle below the level of $ 0.162, there is a strong possibility of a significant price decrease in the coming days.
DOGE is currently being traded under the 200-day exponential advancing average (EMA) on the daily period of time, which indicates a strong bearish trend and weak price action, which may contribute to lower participation.
Traders’ $ 25.60 million bullish bets
Traders, however, seem to have a bullish image, because according to the on-chain analysis company they bet on the long side Coinglass.
Data from Spot Inflow/Outflow showed that traders are currently used too much at $ 0.164 at the bottom and $ 0.1745 at the top, with $ 25.60 million in long positions and $ 8.50 million in short positions in the last 24 hours.
These strong bets on the long side are more than double those on the short side, indicating that bulls are firmly in control.