Look!!! DOGE is highly volatile! The price has rebounded, but there are clear bearish signals for the future.

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According to CoinStats, although most cryptocurrencies have returned to the green zone, the price of Dogecoin (DOGE) has risen by 25.6% since yesterday; however, the market performance is not entirely optimistic.

DOGE/USD trend analysis:

Short-term performance: Although the DOGE price has risen significantly, the hourly chart shows that the price is still in a bearish trend. After breaking through the resistance level of $0.3487, DOGE's price began to pull back.

Support level test: If the adjustment continues, traders may anticipate a test of the support level tomorrow. If the trend does not improve, the area between $0.28 and $0.30 will become the focus.

Mid-term observation: Traders should pay attention to the candle closing price of $0.2724, which will be crucial for whether the price continues to decline in the short term. If the candle closes far from this level, it may indicate that the downward trend will be postponed.

The price of DOGE is $0.3252, and investors should be cautious of future volatility.

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