In a recent assessment, cryptocurrency analyst Rekt Capital provided an insightful review of Dogecoin’s (DOGE) recent price movements. The core focus of their analysis revolves around DOGE’s endeavor to establish $0.20 as a solid support level, following a promising monthly closure above this mark in March.
Read CRYPTONEWSLAND onDespite initial expectations, the extent of DOGE’s downward volatility surpassed prior estimations. Rekt Capital highlighted a significant downturn, bringing DOGE perilously close to revisiting the $0.12 range lows, breaching the previously observed $0.12-$0.20 range. This downward momentum also flirted with a retest of the macro downtrend, now transformed into a pivotal support level, signifying DOGE’s confirmation of its new Macro Uptrend.
Looking ahead, there’s an opportunity for DOGE to secure a monthly closure above $0.20, as observed by Rekt Capital. However, failure to achieve this milestone may confine DOGE within the $0.12-$0.20 range until a breakout occurs.
Of particular significance is the convergence of the $0.12 range low and the macro downtrend, now serving as critical support for DOGE’s upward trajectory. Rekt Capital emphasizes DOGE’s successful retest of this crucial area thus far.
At present, Dogecoin is trading at $0.1516, indicating a slight decline over the past 24 hours. Rekt Capital’s analysis underscores the pivotal nature of DOGE’s reevaluation of the $0.20 level and the reinforcement of support at $0.12 and the macro downtrend. The maintenance of this support is poised to define DOGE’s future macro uptrend trajectory.
Discover the next crypto to explode: #Toncoin's volatility, #Polkadot's steady growth, and #BlockDAG's innovative tech.…
Dwell in the crypto world, where a fierce brawl is anticipated between #Binance, #Avalanche, and…
Analyst insights signal a potential bullish surge for #Dogecoin! Can it break free from retracement…
#Solana rockets 25% in a week, with a staggering 47% surge over 21 days! 🚀…
Crypto giants Bonk and Dogecoin are affected by troubles as the #MoonBag presale takes the…
#Ethereum skyrockets! Key drivers: anticipated SEC approval of Spot #ETH ETFs and major investor buy-ins.…