News: The 'powder keg' of long and short competition
Key support area battle:
Currently $0.1608 closely sticking to the historical demand zone of $0.142-$0.16, this is the bull's 'lifeline' since November 2024. Once lost, it may trigger panic selling, dropping to $0.13; if it holds, it may replicate the 40% violent rebound from March.
On-chain data shows that the 30-day MVRV has dropped to -15.43%, most people are trapped, and selling pressure is weakening, laying the groundwork for a reversal.
ETF and regulatory uncertainties:
The approval of the US spot Dogecoin ETF is still pending. If approved, it will trigger new funds; if rejected, it may exacerbate the sell-off.
Technical aspect: Triangle convergence at the end, a turning point is imminent
Four-hour K-line key signal:
MACD death cross DIF, DEA, short-term bears dominate, but both lines remain above the zero axis, and the overall trend has not collapsed.
Bollinger Bands narrow to the lower track: price pressed to $0.16067 intraday low, weakness is evident. If volume breaks out, it may accelerate the drop towards $0.15.
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