đ Dogecoin (DOGE) Update: Are We Set for a Breakout? đ
#DOGE is hovering around $0.108, showing strong support at $0.1035 and resistance near $0.1109. A breakout beyond $0.1109 could signal a rally toward $0.115 and beyond, while a drop below $0.1035 could push DOGE toward the $0.091 mark.
đč Key Indicators:
âą RSI: Moderate at 59-61, signaling mild bullish momentum.
âą MACD: Showing a bullish crossover, with potential for more upward movement if confirmed.
âą Volume Profile: Strong buyer interest around the $0.105 to $0.108 zone indicates stability at these levels.
đ Bearish Scenario: Failing to break resistance at $0.1109 could lead to a drop to $0.1035 or lower, potentially testing $0.091 if bearish pressure increases.
đ On-Chain Insights:
âą Whales Accumulating: Large holders are piling up DOGE, signaling long-term confidence despite the current dip.
âą MVRV Ratio: Declining, suggesting short-term traders are at a loss, which could attract long-term buyers and fuel a reversal soon.
đŻ Whatâs Next?
âą A bullish breakout could lead to a 40% rally, targeting $0.15, as DOGE continues to trade within a falling wedge pattern.
âą Stay cautious! If the price drops below $0.1035, further declines could be on the horizon.
đĄ Trade/Invest Wisely: Watch for the breakout beyond $0.1109 for potential gains, or set alerts around the $0.091 support for buying opportunities.
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