With the references in the encryption market increased to $ 1.6 billion over the past 24 hours, the Meme currencies are in increasing fluctuation. The largest Mimi, Dogecoin, has decreased by 8.6 % over the past 24 hours.
However, the DOGE price has returned with a trading value of 0.1482 dollars after creating the lowest level in 24 hours at 0.12984 dollars. With the significant rejection of the low price in the candle inside the day, Dogecoin hints to the upward recovery.
Will this recovery in Dogecoin increase a price higher than $ 0.20? Let’s discover.
Dogoin (Doge)
In the daily graph, Dogecoin’s work reveals a declining direction under the influence of the strong resistance direction line. With the pattern of the evening star created during the weekend, Dogecoin fell by 11.67 % on Sunday.
This represents a decisive transformation of 38.20 % Fibonacci and local resistance direction line. The decline recorded to the lowest level of 24 hours at 0.12984 dollars, the lowest Dogecoin price since October 26, due to a sudden increase in the width pressure.
Moreover, EMA 100 and 200 days give a negative intersection. This complements the negative alignment of the medium -enable intermediate lines 50, 100 and 200 days. Thus, technical indicators lead to a sale signal for Dogecoin.
However, rejecting the low price in the candle inside the day highlights strong upward domination at the level of 23.60 % at 0.13729 dollars. With the upscale momentum of Dogecoin, Bulls expects the EMA line for 20 days at $ 0.1703.
This will increase the possibility of turning the Dogecoin to the level of 38.20 % with the outbreak of the direction line.
Dogecoin futures
Because of the massive price fluctuations, the derivative market witnessed a great shook. Dogecoin merchants also witness a huge defeat, Open attention It decreases by about 11 % and is $ 1.35 billion.
Moreover, the gradual increase in the Habudiya feelings fluctuates the financing rate to the negative lands. Currently, OI’s weighted financing rate is 0.0003 %.
This represents a sharp correction of the peak of 0.0087 %. It is worth noting that the gradual increase in the number of short situations has decreased long to a maximum to 0.9643.
Doug’s price goals
From an optimistic point of view, the Fibonacci level recovery can challenge 50 % near the $ 0.20 psychological brand. On the other hand, a declining extension is less than 23.60 % of Fibonacci will undermine any other possibility of upscale recovery.
In such a scenario, the DOGECOIN price is likely to collide with a psychological support of $ 0.10.
