CandleFocus Dogecoin Defies Crypto Market Crash: Analyst Says It Looks ‘Incredible’
2024-12-10
Author: Content Editor
The crypto market experienced a significant leverage flush out, but Dogecoin (DOGE) displayed resilience compared to other altcoins. The DOGE price managed to maintain a crucial support level and showed strong buyer interest each time it touched an uptrend line. Resistance formed near the $0.47 mark, indicating a potential consolidation phase. Open interest in DOGE contracts decreased, indicating a market reset and potential for a sustainable upward move. Funding rates also lowered, reducing the cost of holding long positions. The Cumulative Volume Delta (CVD) showed divergence between futures and spot markets, suggesting a more bullish sentiment in the spot market. DOGE traded at $0.40.
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