$DOGE Apart from Musk's tweets, what value support does Dogecoin have?
Speaking of the value of DOGE, we have to be honest. It is now mainly supported by market sentiment and capital flow, without much real fundamental support. To put it bluntly, it is highly speculative.
Short-term price fluctuations may be very sudden. A piece of news can make it rise or fall sharply, and the risk is not small.
Here comes the point. In this market, if you want to make quick money, you have to keep an eye on the changes in the pressure and support levels. Whether the pressure level can be rushed through and whether the support level can be held are the key to judging the next step.
Counting upwards, the previous high of 0.19640 and today's highest point of 0.20400 are obvious pressure points. If the price wants to rush up, these two places are likely to be stuck.
Looking down, the recent low of 0.16778 is a strong support. Going up is the short-term moving average concentration area near 0.18. If it falls below this, it may have to go down to find a bottom in the short term.
After the recent price rebounded from 0.16778, it was a bit tangled, but a signal similar to "no fall" appeared at the 15-minute level, indicating that there is a rebound momentum in the short term.
But now there is a problem. The volume has not increased significantly. The rebound may be suppressed by the moving average above. If it cannot pass 0.19640, it is likely to step back to the support near 0.18 to test the water.
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