Dogcoin $0.263109 (Doge) price has decreased to critical levels by experiencing a 3 %decrease in the last 24 hours. The data that attracts attention in the technical analysis indicates that investors should be cautious. In particular, the MVRV ratio and 200 -day moving average can be a harbinger of a potential decrease. According to Analyst Ali Martinez, similar formations caused losses between 26 %and 44 %in the past.
Technical data for Dogecoin gives a decrease signal
Technical analysis indicators show that a compelling period can begin in Dogecoin. Analyst Ali Martinez considers the MVRV ratio and the intersection of the 200 -day average as an important signal. In the past, similar formations have led to harsh decline in 26 to 44 %in Dogecoin.
Coings data also shows that sales pressure is increasing. While the positions based on Dogecoin are reduced, the increase in 24 -hour liquidations is remarkable. This development strengthens the expectation that the market will follow a more wavy course.
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Some analysts say that Dogecoin remained durable in the last recovery process. Popular analyst Bluntz said that Diege managed to remain stable despite the general market pressure. However, technical data emphasizes that investors should be cautious.
Market and Regulation Developments maintain its effect
Last week, the Argentine leader’s statements about LIBRAKeni negatively affected the breast coin market. Popular beings such as Dogecoin and Shiba Inu continue to feel the effect of this pressure. While general market sensitivity decreases, negative signals stand out for Dogecoin.
The US Securities and Stock Exchange Commission (SEC) on the application of Dogecoin Spot ETF has created hope in the market. However, it is observed that a cautious monitoring strategy is adopted due to existing market conditions and technical difficulties.
Investors prefer to act more carefully in the light of technical indicators and regulative developments. Possible fluctuations in the market are among the critical factors to determine the course of the price of Dogecoin in the coming period.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
