Price Dogeco (Doge) recently struggled with momentum, and failed to break the main resistance levels. As of the time of the press, Dog retains a price of $ 0.169, higher than the decisive support of $ 0.164.
This recession is alluded to the possibility of further declines, but the main investors are still strong.
Dogecoin faces challenges
The liquidation map reveals that approximately $ 216 million of long positions may face the liquidation if the price of Dogecoin decreases to $ 0.150. This price is not far from its current decisive support of $ 0.164.
If DOGE drops below this level, the liquidation of long contracts can provide an additional sale, which leads to a decrease in the price. It is possible that this is the most calm feelings among merchants, which leads to inhibiting new investments in the meme.
Moreover, the liquidation threat is waving on the horizon as the price hovers near critical support levels. If Doge continues to weak, traders may be more likely to get out of situations, which exacerbates the declining direction.
On the other hand, it appears that LTHS is focused on assembling the original at its current low price.
Hodler Net Net change shows an increasing number of LTHS who eventually trust prices. Since Dog is still relatively inexpensive, these investors look at the current conditions as a possible opportunity to achieve future gains.
This accumulation can be by LTHS as a buffer against additional low prices. Their confidence in the recovery of Dogecoin and its long -term capabilities helps to maintain current price levels. If these holders continue to accumulate, it may prevent a radical decrease and even paving the way for a future price recovery.
Correct the price of Doug is unlikely
At the time of this report, Dogecoin is traded at $ 0.169, higher than the decisive support of $ 0.164. Altcoin was unable to break the resistance of $ 0.176 for several days, indicating signs of stagnation.
The potential result is the continuation of the standardization of higher than $ 0.164, as investors await a potential incentive for the upcoming movement.
If Dogecoin managed to violate $ 0.176 resistance, it may rise to $ 0.198, which represents a positive transformation in feeling. This is likely to encourage more purchase activity and helps pay the price up.
However, without enough momentum, DOGE will remain besieged in its current scope, and you may face more monotheism.
If the price decreases to less than $ 0.164, it may slip to $ 0.147 in the coming days, leading to more than $ 216 million in long. This scenario will indicate a shift towards a declining momentum, which nullifies the ups in the upcoming Dogecoin.
The coming days will be crucial in determining whether Doge can recover or continue to decrease.
Disintegration
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