DOGECOIN (DOGEUSDT) is trying to liquidate its oversold condition - Analysis - 01-28-2025

The price of DOGECOIN (DOGEUSDT) stabilized slightly higher during its recent trading at the moment levels, due to the stability of the current support level of $0.31430, which gained some positive momentum for the price to try to compensate for part of the previous losses it incurred, and at the same time it is trying to liquidate some of its clear oversold condition with the relative strength indicators, especially with the beginning of the appearance of a positive intersection in them, in light of the stock being affected by its break of a minor ascending trend line in the short term, with the continuation of negative pressure due to its trading below its simple moving average for the previous 50-day period.

Therefore, our expectations suggest a decrease in the price of the currency during its upcoming trading, especially in the event that it breaks the previously mentioned support level of $0.31430, to then target the support level of $0.22888.

Expected direction for upcoming trades: Likely to fall $DOGE

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