🔥💥ANALYSIS Will Dogecoin pump? New metrics point to a 15% jump
The #Dogecoin volume indicator showed increasing buying pressure.
The liquidation heatmap suggested that #DOGE prices would be pulled up in the near term.
Dogecoin [DOGE] has maintained its long-term bullish outlook. The price action chart supported the bulls, but there was significant resistance near the local highs. These pockets of liquidity could force the bears to retreat.
The trading activity on April 9th saw prices fall by 9%, accompanied by a decrease in trading activity. Since then, DOGE has not broken this short-term downtrend and the key short-term resistance in the 0.2035 hour time frame has been $1.
The market structure turned bullish, and the key decline still remained at $0.1225. A drop below the $0.1673 level will turn the short-term bias to the downside, and traders can expect a deeper drop to $0.163 or $0.145.
These levels were based on Fibonacci retracement levels (pale yellow). The RSI on the daily chart was decisively above the neutral 50 mark. While this indicates that the bulls are still the favorites, it did not indicate a clear upward trend that is ongoing.
The CMF rose above the +0.05 mark, signaling a significant capital flow into the Dogecoin Sunday. Bulls are hoping that this flood of demand can push up prices.
Magnetic regions in the north have a higher chance of attracting prices to them, and analysis of the bitcoin liquidation heatmap showed that Dogecoin is necessary for a short-term rally.
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At the last dip, it collected liquidity just above the $0.18 level. The next local areas of interest are US $ 0.21 and US $ 0.226.
There was a gap in liquidation levels in the south, given that DOGE wiped them out to $ 0.18. Combined with the CMF, it seemed that Dogecoin could soon register an increase of 15%.
