Title: DOGE breaks below the $0.26 mark! Can it stop the decline and rebound in the next 24 hours?
Trend Analysis:
Dogecoin (DOGE) is currently priced at $0.25337, down 4.4% in the past 24 hours. From a technical perspective, DOGE has broken below the key support level of $0.255, and the rebound in the short term still appears relatively weak. Currently, DOGE's short-term resistance level is around $0.2624. If it breaks this level, it may welcome a corrective rebound.
Bull-Bear Battle:
Bears dominate, with MACD continuously in the negative region. The DIF and DEA lines have not shown a significant crossover, indicating considerable selling pressure. Meanwhile, RSI (6) is approaching the oversold area of 30, suggesting that a market rebound opportunity may be imminent. However, if it breaks the current support level of $0.247, it may further decline.
Support and Resistance Levels:
• Support level: $0.2466
• Resistance level: $0.2624
• Short-term target: If the resistance level is broken, the target looks towards $0.2714.
Conclusion:
Can DOGE hold at the support level to avoid further decline? Will there be a dramatic reversal in 24 hours, or will it continue to languish? Leave your thoughts in the comments, and don't forget to follow us to stay at the forefront of the market!