On-chain indicators continue to decline, and the price of Dogecoin may fall by 12%!
The uncertainty of the conflict in the Middle East has caused the entire market to fall, and the price increase momentum of Dogecoin has also stalled recently.
However, as the price of Bitcoin slowly climbed back to $61,200, Dogecoin and other altcoins also benefited from it, and the price rebounded.
But strangely, according to the data on the chain, the price of Dogecoin seems to be falling by 12%.
Although the on-chain data is not very good, the price of Dogecoin is still rising.
Judging from the on-chain indicators of Dogecoin, this altcoin is not having a good time now.
The price of Dogecoin and network activity are now very different.
The difference of -66% shows that the network activity has shrunk significantly compared to the price. The price has risen, but the user activity has not kept up. This may be a sign of deteriorating market sentiment, which is not a good thing for the price of Dogecoin.
Although the on-chain data is not optimistic, the price of Dogecoin today is $0.1081, and it has risen by 2.6% in 24 hours. However, analyzing the price of Dogecoin, this situation may not last long.
Dogecoin price analysis: $0.095, be careful!
The price trend of Dogecoin is now neutral to bearish. The chart shows that the price tried to break through the neckline of a double bottom pattern, but failed and fell again. Although the price is now a little above the 50-day exponential moving average (EMA), it failed to break through this time, which shows that everyone is bearish.
$0.1250 was a high point when the price tried to rebound before. If the price wants to rebound again, this is another difficult point.
If the price of Dogecoin can gain a foothold at $0.0950, it may be a good opportunity to buy for the long term.
However, if the price of Dogecoin suddenly soars and breaks through the neckline, it means that the cryptocurrency market is still quite vibrant, and the price may try $0.13 again, or even higher, and then the bearish view may have to stand aside.
After a few days of sharp declines, BTC, ETH, SOL, PEPE, SUI, DOGE, WIF, FET, AAVE, and BNX should enter the market and ambush, otherwise you will miss this wave of bull market!If you are still hesitant and confused, come to me and I will teach you
