Dogecoin Rises with Strong Trading Volume

Despite the uncertainties in global markets, Dogecoin has attracted attention by showing a strong recovery. In the last 24 hours, the popular cryptocurrency gained value by 6.56%, rising from a low of $0.1508 to $0.1632. This movement was technically supported by the broken downward trend and increased trading volume.

Positive Divergence Despite Geopolitical Tensions

Although the tension between the US and Iran led to short-term selling pressure in the crypto markets, Dogecoin recovered faster than leading cryptocurrencies in this environment. Investor interest continued despite the fluctuations caused by the US airstrikes on Iran.

Technical analysts indicate that breaking the downward trend that Dogecoin has been in for a long time has created a positive change in the market structure. While the RSI indicator is giving an upward signal by exiting the oversold area, the trading volume exceeding 800 million units also signifies a decrease in selling pressure.

Trading Volume and Technical Levels

It is seen that the rise sped up especially with the increasing trading volume in the evening hours. Around 22:00 UTC, the price reflected intense buying interest by increasing by 3.77% within an hour. A short-term peak was seen at $0.1632, followed by a slight pullback and sideways movement.

The level of $0.161 stands out as a short-term support point, while the $0.150 region is seen as a strong base. In upward movements, $0.165 is monitored as a new resistance level.

Network Activity and Market Expectations

An increase in trading volume and the number of active wallets in the Dogecoin network has been observed in the last week. This situation indicates that investor interest is ongoing. Analysts emphasize that in uncertain environments, investors tend to turn to alternative digital assets.

Technical analyst John Smith stated, 'The rise of Dogecoin is supported by the increase in trading volume and breaking through technical resistances. If interest continues, the range of $0.17 to $0.18 can be targeted.'

General Overview

According to experts, the current price movements indicate a healthy consolidation process. While the MACD and other technical indicators reveal that upward potential continues, the upward trend in short-term charts stands out.

The resistance exhibited by Dogecoin during this process created a separate trust factor in the eyes of investors. The formation of clear support and resistance levels technically opens the way for new price movements. The liveliness in trading volume and the increase in network activity are important signals for the continuation of the rise.

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