Dogcoin $0.258874 (Doge) has reached a critical level of support, and investors are now wondering if there will be a strong recovery from this level. Memecoin is traded at the decisive technical levels after a significant decrease in recent weeks. Will there be an upward movement from these levels or will there be a deeper correction? Let’s take a closer look.
Dogecoin Analysis: What does technical data say?
Dogecoin is trying to hold on to the 200 -day moving average (MA) support of $ 0.23045. This level DogIt stands out as an important region that has made strong recovers in the past.
However, if this support is lost, it may be faced with a harder decrease. Fibonacci correction levels indicate that Doge hangs below the 0.618 percent Fibonacci level of $ 0.39485. This is usually considered as a signal that indicates that the trend will continue.
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Currently, Doge’s next important support is $ 0.23045. This level can create a critical “security network için for investors. In order for the ascension scenario to come to the agenda again, Doge must remain above this level and regain the 50 -day moving average $ 0.32976.
Dogecoin Price Comment in the Light of Technical Indicators and Network Activity
Dogecoin’s relative power index (RSI) is 33.32. This level Doge CoinHe points out that he is close to the over -selling zone. In general, the fact that RSI falls below 30 means that the price can be recovered. However, this recovery may be delayed if market sensitivity remains weak.
In addition, a significant decrease in the number of active wallet addresses on the network has been observed recently. The number of active wallet addresses, which was 9.8 million in December, has now declined to 1.32 million. This decrease means that the activity in the network is reduced and the interest of investor has weakened. In the past, however, similar situations have triggered the recovery of long -term investors from low levels.
In general, investors should closely monitor whether Doge Coin can hold $ 0.23045. If this level is lost, the next important support level is around $ 0.20. However, it is important to pay attention to basic technical indicators and network activity before short -term movements.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
