DOGE price continues to trade sideways after its 9% peak on June 25 failed to translate into any tangible value. Despite lackluster price action, Dogecoin is getting bullish signals from market sentiment and technical setups.
DOGEpriceremainedlargelyflatonJune27afterMonday's9%spikefizzledout.However,keytechnicalsetupsandmarketcuessuggestapotentialrallyforthememecoin.Here'sacloserlookatthelatestDogecoinpriceanalysis.DOGEpriceCrabAfterMonday'sSpikeFizzlesDOGEpricereboundedoffamulti-monthdescendingtrendlinesupportonJune 25.However,theuptrendfailedtolastafterthetokendroppednearly4.5%onJune26.Moreover,thetoken's20-dayEMA(redwave)and200-dayEMA(greenwave)areclosetoformingadeathcross,abearishpatternthatsignifiesnegativemarketsentiment .Shouldthedowntrendcontinue,DOGEpricecoulddroptothetrendlinesupportnear$0.118.Breachingtheimmediatesupportcouldattractmoresellingpressure,forcingthememecoin'spricetotestthesupportnear$0.11.Ontheotherhand,aDogecoinpricerallyfromherewouldseethetoken'spricerisetotheresistancenear$0.13.FlippingabovetheresistancelevelcouldhelpDOGEprice targetthe50-dayEMA(purplewave)and100-dayEMA(bluewave)resistanceconfluencenear$0.144.TheRSIforDOGEremainedneutralforthetoken,withareadingof36.98onthedailych arts.DogecoinHolderDistributionShowsBullishCuesRecentdataontheglobalin/outofthemoney(IOM)positionsforDogecoinrevealasignificantnumberofholdersinprofit.Curr ently , 75.11%OffDogeaddresses, OR4.77millionaddresses, Are "IntheMoney." Incontras, 23.18%, OR1.47millionaddresses, Are "OutoftheMoney," 8.31kaddresses. "AttheMoney." "ThisIndicatesstrongProfitabilityAMongHolders, WhichcanBebutsoraiseStheriskProfit-TAKING.TORECALL," INTTTTTTTTTTO Hemoney " means the current price is higher than the purchase price, while “out of the money” means the current price is lower than the purchase price. “At the Money” means the current price equals the purchase price. cumulating.Largeholders,owning100millionto1billionDOGE,showfluctuationsbutatrendofslightaccumulation.Thelargestholders,withover1billionDOGE,maintainstableholdings,indicatingconfidence.WhilethedatasuggestsamoreorlessbullishoutlookforDogecoin,investorsshouldexercisecautionaspotentialprofit-takingremainsarisk.
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