Dogecoin: Will it rise or fall this week?
The price of Dogecoin in the last 24 hours has been like a roller coaster, fluctuating between $0.42 and $0.44. The $0.42 level is quite stable, but the $0.44 level has tried several times but couldn't break through.
The upcoming week is a critical moment for Dogecoin players. The price of Dogecoin (DOGE) is bouncing up and down, sometimes at $0.42, sometimes at $0.44. Although $0.42 seems to hold firm, it just can't get past $0.44. The market is acting like a weather vane, with traders guessing whether it will rise or fall.
The price is just grinding there.
Looking at the data from TradingView, the Relative Strength Index (RSI) indicates that it is currently in a neutral state, neither too hot nor too cold. This means that Dogecoin could go in either direction, depending on the short-term momentum. Additionally, the short-term moving average is congested around $0.43, indicating that everyone is uncertain; this price level is significant for those waiting for a breakthrough or a collapse.
Trading volume and market sentiment
The trading volume also fluctuates wildly; it surges when prices rise but goes quiet during corrections. This suggests that buyers are not strong enough, but it can’t be said that sellers are in a dominant position either. The overall trend of the cryptocurrency market this week has a significant impact on Dogecoin.
If the $0.42 level cannot hold, Dogecoin might drop below $0.40. However, if it can break through $0.44, it might head towards $0.46 or even higher, especially if many people rush to buy.
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