đ DOGE Market Cap analysis đ
đź Current Trend: The chart indicates that Dogecoinâs market cap has been moving within a downward channel since May. The price recently broke out of this channel, signaling a potential trend reversal from bearish to bullish.
đ Support Area: Price held above the support zone between $13B and $15B, showing a strong buying interest at these levels, preventing further downside.
đĄ Technical Indicators:
âą RSI is currently at 56.56, which indicates that there is more room for the price to rise before it reaches the overbought territory (70+).
âą The RSI trendline shows an upward trajectory, reinforcing the bullish sentiment.
â ïž Key Considerations: The breakout from the downtrend combined with the increasing RSI suggests an upward momentum. You should watch for confirmation with volume before entering a long position.
Disclaimer: DYOR and NFA.
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