The Dogecoin Prix (DOGE) recently fought with momentum, having failed to break the levels of resistance of the keys. At the time of the press, DOGE held at $ 0.169, just above the crucial support of $ 0.164.
This stagnation suggests the potential of additional drops, but key investors are still strong.
Dogecoin faces challenges
The liquidation card reveals that around $ 216 million in long positions could cope with the liquidation if the Dogecoin price decreased to $ 0.150. This price is not far from its current critical support of $ 0.164.
If DOGE falls below this level, the liquidation of long contracts could feed an additional sale, pushing the lower price. This would probably cause a more lower feeling among traders, discouraging new investments in the memes room.
In addition, the threat of liquidation is looming as the price ranges near critical support levels. If Doge continues to weaken, traders may be more likely to leave positions, exacerbating the downward trend.
On the other hand, long -term dogecoin (LTH) holders seem to focus on the accumulation of assets at its current low price.
Hodler’s net position change shows an increasing number of LTH which are confident in the recovery of possible prices. As Doge remains relatively cheap, these investors consider current conditions as a potential opportunity for future gains.
This accumulation of LTHs could serve as a buffer against additional price drops. Their confidence in the resumption of Dogecoin and long -term potential helps maintain current price levels. If these holders continue to accumulate, this could prevent a drastic drop and even pave the way for a future price rebound.
Unlikely Doge Price Correction
At the time of writing the editorial staff, Dogecoin is negotiated at $ 0.169, just above critical support of $ 0.164. Altcoin could not break the resistance of $ 0.176 for several days, showing signs of stagnation.
The probable result is a continuous consolidation greater than $ 0.164 while investors await a potential catalyst for ascending movements.
If Dogecoin manages to violate the resistance of $ 0.176, it could quickly reach $ 0.198, marking a positive change in feeling. This would probably encourage more purchasing activities and would help increase the price.
However, without sufficient momentum, Doge will remain trapped in its current beach, potentially faced with additional consolidation.
If the price falls below $ 0.164, it could increase to $ 0.147 in the coming days, triggering more than $ 216 million long liquidations. This scenario would indicate a change towards a lower momentum, invalidating the optimistic perspectives of Dogecoin.
The next few days will be crucial to determine if Doge can recover or continue its decline.
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