Dogecoin Bulls Remain Strong Despite Market Sell-Off

  • 📰 CryptoAmb
  • ⏱ Reading Time:
  • 62 sec. here
  • 8 min. at publisher
  • 📊 Quality Score:
  • News: 45%
  • Publisher: 68%

CRYPTOCURRENCY أخبار

DOGE,CRYPTO,BULLISH SENTIMENT

Dogecoin shows resilience against market downturns with strong support from whales and bullish sentiment among traders.

Dogecoin could surge by 25% to hit the next resistance level of $0.45 if it maintains its position above $0.345. Following the Fed Chair Jerome Powell's rate cut announcement and anti-crypto stance, market sentiment shifted negatively, leading to a significant sell-off across the crypto market. Amid this downturn, DOGE experienced a decline of over 13.5%. Despite this, on-chain analytics firm Coinglass reports strong interest from whales and long-term holders.

Data from DOGE’s Spot Inflow/Outflow revealed a substantial $150.03 million outflow of DOGE from exchanges. This metric indicates that large DOGE holders are withdrawing from exchanges, suggesting potential upward momentum and a favorable buying opportunity. Furthermore, traders exhibit strong optimism towards the meme coin. Coinglass’s Binance DOGEUSDT Long/Short Ratio stands at 4.93, signifying bullish sentiment. Driven by this positive sentiment, DOGE has held above the critical support level of $0.345. AMBCrypto’s technical analysis portrays DOGE as bullish, and with continued support, the meme coin has begun its upward movement on the daily timeframe. Based on technical analysis, if DOGE sustains above $0.345, it could potentially rally by 25% to reach the next resistance level of $0.45. Combining these on-chain metrics with technical analysis, it appears that bulls currently control the meme coin, protecting it from further price decline. At the time of writing, DOGE is trading near $0.36 and has seen a decline of over 4.65% in the past 24 hours. During the same period, its trading volume surged by 51%, indicating heightened participation from traders and investors compared to the previous day

لقد قمنا بتلخيص هذا الخبر حتى تتمكن من قراءته بسرعة. إذا كنت مهتمًا بالأخبار، يمكنك قراءة النص الكامل هنا. اقرأ أكثر:

 /  🏆 22. in SA
 

شكرًا لك على تعليقك. سيتم نشر تعليقك بعد مراجعته.

المملكة العربية السعودية أحدث الأخبار, المملكة العربية السعودية عناوين

Similar News:يمكنك أيضًا قراءة قصص إخبارية مشابهة لهذه التي قمنا بجمعها من مصادر إخبارية أخرى.

CHZ Token Surges Over 12.34%, Bulls Eye $0.35 Target Amid Strong Market SentimentCHZ token has seen impressive gains over the past 24 hours, with a 12.34% increase contributing to its cumulative monthly gains of 145.3%. Market analysts predict further growth, with the token potentially reaching $0.35 if current momentum holds.
مصدر: CryptoAmb - 🏆 22. / 68 اقرأ أكثر »