Dogecoin is currently trading near $0.242 after a relative stabilization during today’s session, where the price moved between $0.228 – $0.242. This fluctuation reflects a state of caution among investors with the possibility of new liquidity entering to support the continuation of the positive trend
Technical indicators:
Moving Averages: The price is holding above the short and medium averages, reinforcing the continuation of buying pressure
RSI: The Relative Strength Index at around 55 indicates a neutral state with the possibility of starting a buying wave or a limited correction
MACD: The lines are in a positive divergence indicating the continuation of upward momentum without losing market strength
Support and resistance levels:
First support: at $0.228, represents a strong pivot point if the price sees a slight decline
Second support: near $0.220 breaking it may temporarily weaken the positive outlook
First resistance: at $0.242 breaking it could open the door for a new upward wave
Second resistance: at $0.260 is considered a major challenge for speculators
Forecasts: Maintaining support levels at $0.228 enhances the chances of continuing the upward trend with the possibility of reaching targets between $0.242 – $0.260 in the near term, and if the second support at $0.220 is broken, we may witness strong selling pressure and a potential correction in prices
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