CandleFocus Dogecoin (DOGE) Loses 40% From Top: What's Next?
2024-12-20
Author: Content Editor
Dogecoin has seen a significant decline, dropping 40% from its recent peak. Concerns are being raised about its future course and important levels to watch. The coin has broken below the critical 50 EMA support level and the next significant support level is around $0.28. If this level is not maintained, DOGE may decline further to $0.21. On the resistance side, $0.35 is now a significant barrier that needs to be broken for bullish momentum to return. Traders are exiting positions due to increased selling activity. There is a possibility of a short-term consolidation or relief rally if the RSI reaches oversold territory. The overall sentiment of the cryptocurrency market will greatly influence DOGE's future course. The recent losses highlight the volatility of the cryptocurrency market. Traders should pay attention to the $0.28 support and $0.35 resistance levels to predict DOGE's next move.
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