After Dogecoin (DOGE) rose to $0.48 recently, it stopped rising.
The market always fluctuates greatly, and Dogecoin fluctuates between $0.42 and $0.37.
Today, Dogecoin fell to $0.3832, a 4.11% drop from yesterday.
Many people who trade Dogecoin think it will fall, which may be a sign that the market is about to change. The price keeps hovering in this range, and those who want to buy are a little anxious.
Everyone used to be quite optimistic, but now they have turned pessimistic, which shows that those who want to buy have no strength and those who want to sell can't move.
Now the sellers have the final say, there are more sellers and fewer buyers, and the price keeps falling.
There is also something called the relative strength index (RSI), which also shows that Dogecoin has been falling in the past 10 days.
Some people made money when the price rose before, but now they dare not cover their positions when it falls, so the price falls even more.
There is also an indicator (+DI) that keeps falling, which means that Dogecoin is losing momentum to rise. At the same time, the downward momentum is getting stronger and stronger, fewer people want to buy, and the bearish pressure is getting greater and greater.
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