Dogoin (DOGE) price chart does not look good amid a 14 % decrease: Here’s what is the following

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Yesterday, the news broke out that there will be weekly matches that include Elon Musk and Vivek Ramaswamy, where they discuss recent developments in the Ministry of Energy (DOGE). Of course, almost immediately, the symbols were created on both Ethereum and Solana Ecosystem with the same name. We will mostly focus on one on ethereum because in this ecosystem, there are more politfi traders who can raise the price. Is Dogecast the next large Mimi currency? The maximum current market for Dogecast on this network is about $ 7 million, and this may rise much higher, especially when Elon begins to tweet on this topic. He has already confirmed two days ago that there will be weekly updates about Dog. However, it still needs to use the actual word "Dogecast" This can go bananas. https://twitter.com/dogeCastte/status/185768509416667413 will also depend on the extent of ELON's frequency this topic and when the podcast is already launched. According to reports, it started "almost," Once the official date is announced, it can benefit from the price as merchants will have a specific date to focus on it. This type of concrete schedule often creates anticipation in the market. Of course, note that this is a new Mimi currency that only depends on a narration that can be hot in the coming days but also depends on CTO and their team. If they decide to withdraw the carpet, it can go easily to 0. However, if they do not do it and the narration remains hot, we will search for the market ceiling of $ 50 million or even $ 100+. It should still be seen in any case.

Dogecoin recently witnessed some price movement indicating that more downward pressure may be on the horizon, although it has already decreased by 14 % of the last levels. The technical analysis of Doge/USDT Daily Chart reveals many signals related to the famous MEME currency.

Dogecoin tried to pay the resistance level of $ 0.28 but failed to keep the momentum. This rejection has led to a significant decrease of approximately 14 %, indicating that sellers are currently dominating the market.

Inability to maintain prices above this threshold indicates a basic weakness in purchasing pressure. Without stronger upscale feelings, Dog may struggle to restore rising momentum in the short term.

Bolinger ranges indicate an increased declining pressure

The price procedure is currently drifting towards the bottom Bollinger BandWhich usually indicates an increase in sales pressure on the market. In addition, the expansion of these domains indicates an increase in volatility – it is often an introduction to the continued movement of prices in the prevailing direction.

With the circulation of Doge near the bottom domain, the hill signals work to enhance them, indicating more decrease or unification at low price points.

MACD confirms the feelings of Dogecoin

Technical traders watch MACD Index We will notice that he sits firmly in landfill. Through the (orange) signal line at the bottom of the MACD (blue) line, while the graph remains negative.

These factors collectively enhance the current declining momentum. Without any visible signs of reflection in this indicator, it appears that the declining trend is likely to continue in the short term.

Also read: Indicators that sell Ripple (XRP) signal with low prices: It is time to empty symbols?

Support levels to watch Duji Mimi currency

The visible descending trend line on the graph as an enormous resistance, which makes the price of Dogecoin effectively trapped in a declining channel. Currently, DOGE tests a decisive support area of about $ 0.24, which represents an important turn for the encrypted currency.

If this support level fails, traders can expect more declines about $ 0.20, and perhaps low up to $ 0.15, based on historical support levels.

What is the following for Dogecoin?

Dogecoin finds itself firmly in a short -term declining direction, with multiple technical indicators indicating poor continuity. The last rejection at $ 0.28, followed by a 14 % decrease, is a confirmation that sellers maintain control of the market. If the current support collapses at $ 0.24, DOGE may experience additional drops about $ 0.20 or lower levels.

Also read: Why are Solana prices decreased?

In order to reflect this declining trend, you will need a decisive fracture over the descending trend line that limits price movement, and created subsidies with success higher than a level of $ 0.28. Until these conditions are met, caution is still the word monitoring investors.

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