Attention Dogecoin Investors! These Levels Are Very Important!
According to on-chain data, DOGE is trading at around $0.236, while facing significant selling pressure above.
The $0.36 region in particular is a level where approximately 5.7 billion DOGE has changed hands. This region stands out as a potential resistance area where investors who previously bought at this price may sell to take profits.
If this level is tested again, it is quite possible that the selling pressure will intensify and DOGE will struggle here. In other words, this is not only a technical resistance, but also a psychological profit realization zone.
On the downside, the $0.21 level is a critical support point for #Dogecoin . It is known that approximately 11.1 billion $DOGE changed hands at this price range. This corresponds to 7.5% of DOGE’s circulating supply, making this level a strong “demand floor.”
This area has been recorded as one of DOGE’s historically largest volume clusters. If the price pulls back here, it will be the first line of defense.
$DOGE has made a rapid rise from under $0.18 to over $0.23 in the last two weeks. This sudden move has taken the price to a high volume area on the URPD (Unspent Realized Price Distribution) chart. The coin is currently in a consolidation phase with this volume density.
How $DOGE will break out of this consolidation in the coming period will depend on the reaction it will give in the $0.21 - $0.36 range.
🔸️Bulls want #DOGE to break above $0.36. If it does, it will be the strongest bullish signal since the last big breakout.
🔸️For bears, a drop below $0.21 could pave the way for a deeper decline.
⚠️ Note: My posts are not investment advice. There may be errors due to translation. Please do your own review. You can also write your thoughts in the comments section.
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