Despite the recent fluctuations in the cryptocurrency markets, Dogecoin has shown a significant recovery. In the last 24 hours, it gained more than 6.5%, rising from the two-month low of $0.1508 to $0.1632. In this rise, increasing buying interest and the broken downtrend played a significant role.
Geopolitical tensions between the USA and Iran have increased volatility in global markets, while airstrikes that took place over the weekend created selling pressure on cryptocurrencies in the short term. However, Dogecoin showed a faster recovery performance compared to others in this environment, indicating investors' positive outlook.
Trading Volume and Price Dynamics
With the increase in trading volume, especially in the evening hours, the price of Dogecoin rose by approximately 3.7%. This increase allowed for the overcoming of significant resistance points, resulting in a new peak at $0.1632. After the rise, a slight pullback and stabilization in prices were observed, while the $0.161 level emerged as a solid support in the short term. Technical analyses indicate that $0.150 serves as a strong base, while $0.165 is a new resistance area.
Dogecoin Network and Expert Opinions
Recently, there has been an increase in Dogecoin's trading volume and the number of active wallets on the network. Experts express that interest in digital assets continues and the upward potential is sustained along with technical indicators. Another observed factor is that investors are seeking safe havens in a high-risk environment.
Technical analyst John Smith stated, "Dogecoin's recent rise is supported by strong trading volume and surpassed technical resistances. If investor interest continues, we can expect the price to move towards the $0.17-0.18 range."
Despite the fluctuations in the crypto markets, Dogecoin is gaining attention with improvements in technical indicators and increasing trading volume. Especially, the strong maintenance of trading volume in the short term may pave the way for the continuation of the upward trend. Current support and resistance levels guide potential short-term price movements.
Dogecoin's recent performance reflects both investor interest and the vibrancy of network activities. No matter how volatile market conditions are, as long as buying demand continues, it seems likely that positive price movements will continue in the short term.
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