As most cryptocurrencies return to the profit zone, the price of $DOGE has also seen a significant increase. Since yesterday, the exchange rate of DOGE has risen by 25.6%. Although the price surged sharply today, the price trend of DOGE still shows bearish signs from the hourly chart. After a false breakout of the resistance level at $0.3487, the price began to decline.
If this adjustment trend continues, traders may expect to test the support level in the upcoming trading days. From a larger time frame perspective, the current candlestick is about to close with a long upper shadow, which is a bearish signal. If the situation does not change during the day, it is expected to soon test the price range of $0.28 to $0.30.
From a medium to long-term perspective, traders should pay attention to the closing of the candlestick at the level of $0.2724. If the closing price moves far from this level, further declines may be delayed. As of now, the trading price of DOGE is $0.3252.
In the cryptocurrency market, price fluctuations are often accompanied by complex changes in market sentiment and technical analysis. As a well-known meme coin in the market, the price fluctuations of DOGE are often influenced by market sentiment. Investors should combine market dynamics, technical analysis, and their personal risk tolerance when making trading decisions, and operate cautiously. Although short-term price fluctuations may be quite volatile, in the medium to long term, the fundamental trends and value support of the market remain important references for investment decisions. #Doge #XRPS