Dogecoin recently faced a series of setbacks, including the failed attempt that led to a decrease in its price. This descending movement has worsened more through a recent comment from Elon Musk, which is suspected of the future of Dukwin.
However, despite these challenges, Altcoin shows some signs of recovery, largely driven by their LTHS who accumulate more Doge at current low prices.
Dogecoin faces mixed signals
The percentage of the Dogecoin network to transactions (NVT) increased significantly, reaching a three -month height. This indicates that the value of the network does not coincide with the number of transactions, which indicates a possible shortage of investor confidence.
The last Elon Musk’s comment on Doge has provided the discourse surrounding the cryptocurrency. He explained that the United States government does not intend to use Dogecoin in any way, which led to some negative feelings. This statement formulated the expectations of the currency, although it did not completely come out of its place on the market.
Dogecoin’s total momentum shows stability marks, as shown from the last height in changing Hodler Net. LTHS has been accumulated with DOGE activity during the last decline, indicating a strong conviction between these bearers.
This accumulation provides a level of support, and it may help the currency to recover and prevent additional prices. The increasing change in the situation indicates that LTHS is confident in the long -term feasibility of Dogecoin despite the disturbances in the last market and the controversial Musk suspension.
This LTHS continuous accumulation may lead to a floor formation under the price of Dogoin, which provides insulation against more hybrid stresses. With the stability of the market and feelings of feelings, holders of this driving force that will lead to the next upward movement can become.
Doge PRICE stumbles, but can it be recovered?
Dogecoin is currently trading at $ 0.163, with the price slightly lower than the support level of $ 0.164. Over the past five days, the currency has witnessed a 16 % decrease after a failed attempt to penetrate the resistance level of $ 0.198. This failure to violate the key resistance levels indicate that Doge may not face immediate prices without external stimuli.
Given the current market conditions, it is possible that Dogecoin will not suffer from significant declines in the near future. The currency may restore $ 0.164 as support and continue to merge a little less than $ 0.198 resistance. However, this monotheism can continue until the market signals appear stronger to pay the price up.
The only scenario in which this neutral bullish view will be nullified is whether Musk’s suspension causes more damage to the Doug price. In this case, the Meme currency can decrease to $ 0.147, which extends its recent losses. Continuous contraction would refer to more negative feelings in the market and potentially stop the recovery of Dogecoin.
Disintegration
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