Can DOGE Break Through $1 After Breaking Key Resistance?
Release: 2024/12/03 01:14 Reading: 484
DOGE Declines with Liquidations
DOGE is trading at $0.4109, a loss of over 3% in 24 hours. The meme coin has witnessed liquidations totaling $32.76 million.
Bitcoin (BTC) Dips Below $95K
As December approaches, the largest cryptocurrency, Bitcoin (BTC), has dipped to $95K. The market remains greedy, with the Fear and Greed Index at 79.
Dogecoin Market Cap at $126 Billion
The meme coin market cap stands at $126 billion. Dogecoin (DOGE) has lost 3.10% over the past 24 hours. At press time, DOGE is trading at $0.4109, with a market cap of $60.40 billion.
DOGE's 24-Hour Liquidations and Trading Volume
Over the past 24 hours, DOGE has experienced liquidations worth $32.76 million. The daily trading volume for the asset stands at $12.14 billion.
DOGE's Surprising November Performance
The meme coin surged by over 156% in November, from $0.1593 to a monthly high of $0.4735.
Analysts' Optimism for DOGE
Analysts predict bullish signals for DOGE if it crosses $0.40. Despite a mixed outlook, there is hope for a positive sentiment as the year ends.
Technical Indicators Suggest Bearish Momentum
DOGE's Moving Average Convergence Divergence (MACD) line is below the signal line, indicating a potential downtrend. The Chaikin Money Flow (CMF) is negative (-0.11), showing sellers overtaking buyers.
Key Support and Resistance Levels
If the bearish momentum continues, DOGE may fall towards previous lows with a support level at $0.36. On the upside, a breach of the $0.44 resistance level could push DOGE towards $0.50.
Neutral Market Sentiment and Mixed Moving Averages
DOGE's market sentiment is approaching neutrality, with the relative strength index (RSI) at 43.24. The short-term 9-day moving average is above the long-term 21-day moving average on the daily frame.
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