Dogecoin's current trend makes people shake their heads!
Since the end of May, this asset has been hovering around $0.25, and in the past week, it couldn't even hold $0.18. Want a rebound? No chance! As a result, it directly fell below $0.18 yesterday, hitting a low of $0.17 before barely bouncing back. This $0.17 is a "lifeline"! Since December last year, the lower edge of this descending channel has been like a wall, getting pushed back every time it rises to this point, and now it’s stuck here again.
The key question arises: can it break through the "ceiling" that has been pressing down for half a year? If it can break through, it might catch a breath; but if it can't even hold $0.17, then just wait for it to continue to test the lows!
Now the data is a bit contradictory: the price has indeed rebounded from $0.17, rising 5.2% to $0.1812 in 24 hours, but the trading volume has halved compared to yesterday, shrinking by 50%! What does this indicate? The people pushing the price up didn't really exert effort; it’s all just the internal funds playing around. This kind of "low-volume rebound" makes me skeptical.
Personal opinion: $0.17 is now the dividing line in the battle between bulls and bears. If it holds, there might be a chance to touch the upper edge of the channel; if it can't hold, we might see $0.15. But with the current trading volume, I advise everyone not to blindly chase the rise; let’s see if $0.17 can hold first. In any case, with Dogecoin's tendency, don’t expect a major trend without a breakout on volume; just continue to observe!
Are you stuck? When to bottom fish? Still the same saying, feeling confused and helpless about what to do, just click on the profile picture to comment. I need fans, you need references.
