DOGE is currently trading around $0.238, achieving a daily jump of nearly +9% amid active trading exceeding $5 billion. This movement confirms the return of interest in the most popular meme coin in the market.
Technical indicators:
The general price trend remains within a short-term upward trajectory supported by flowing liquidity.
The buying momentum, as indicated by the Relative Strength Index (RSI), shows it approaching overbought areas, which may pave the way for short-term profit-taking.
Volatility: Rapid increases reflect strong speculation on the currency with the potential for sharp fluctuations at any moment.
Support and resistance levels:
First support: $0.225 is an important level that maintains the upward trend if it holds above.
Second support: $0.209 represents today's bottom, and any break below it opens the door for a wider pullback.
First resistance: $0.242 is a nearby barrier that requires a clear breakout to initiate a new wave.
Second resistance: $0.260 is a psychological level that may attract intense profit-taking when reached.
The forecasts remain positive as long as the price stays above $0.225, with the potential to target $0.26 in the short term. However, if it fails to surpass $0.242, we may witness a pullback to retest previous supports.
In summary, Dogecoin shows clear buying strength supported by massive liquidity, which makes the near-term outlook positive. However, its proximity to potential selling pressure areas requires caution. Trading at these levels requires close monitoring of support levels at $0.225 and resistance at $0.242.
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