Dogecoin forming double top pattern, trading near the demand zone
DOGE slipped below 50 day and 200 day ema indicates bearish trend reversal on a higher time frame.
Dogecoin had tried multiple times to sustain higher levels but sellers kept on dominating the higher levels. As per coinglass, DOGE/USDT futures 24 hours long buildup at 42.92% whereas short build up at 57.06% shows sellers are more as compared to buyers. Currently, the DOGE is trading positive with gains of 2.34% on a intraday basis and 24 hour volume to market cap ratio stood at 0.0824
Will the DOGE take support at the demand zone ?
Source : DOGE/USDT 4 hour chart by Tradingview
On a daily time frame, it is visible that DOGE has been a favorite meme coin of speculators as it has given some wild swings in the past couple of months with a higher volume and later got dumped badly. In the end of October, Dogecoin jumped almost 144% in just one week, hitting highs at $0.15893 and in the next week it dumped down and lost
We współpracy z: https://www.thecoinrepublic.com/2022/12/17/dogecoin-price-prediction-doge-near-previous-month-low-at-0-07053-will-it-sustain-or-break/
