Crypto friends, as soon as we opened the market today, our hearts sank! Dogecoin has once again dropped below the key level. I know you are all asking: when will this decline end? Is it a rebound or will it continue to test the bottom? Don’t panic, I am Liangyi, and today I will explain it clearly in plain language!
The news turned from positive to negative, what tricks are the institutions playing?
The news mentioned that the active addresses of Dogecoin have surged, and the ETF application has also been submitted. Clearly, this is good news, but the price has dropped by 3%! Why? Because institutions are secretly offloading—trading volume surpassing 400 million tokens every hour. This is simply 'a show on the surface, but secretly maneuvering behind the scenes.' Retail investors see the positive news and rush in, but institutions take the opportunity to dump. Is there a bigger storm brewing behind this? Is the enthusiasm for the ETF just a bubble? Here comes the suspense: what actions will the institutions take next? Liangyi will closely monitor the on-chain data, and the next issue may reveal the answer.
All technical signal analysis, the key level 0.143 is the lifeline!
From the candlestick chart, the resistance and support levels are clear: the upper range of 0.166-0.187 is the rebound resistance area, the lower 0.143 is the key level, and further down are the supports at 0.12 and 0.1. However, the white and yellow lines of the MACD are dead crossing above the zero axis, indicating weak rebounds and that the bears are still gaining strength. The current situation of Dogecoin is that the news no longer works and has instead become a tool for institutions to dump. Large funds sold 400 million coins in one hour, and the price was forcibly smashed to 0.1447, just hanging on the edge of the 'lifeline' at 0.143. Looking at the chart, the death cross in the MACD clearly tells you: the rise lacks strength, and the fall is not over.
My view is very clear: I am bearish on DOGE! If $0.143 can hold, there may be a small rebound, but if it doesn't break through $0.166, the market will definitely pull back. However, if 0.143 breaks, the next target may be 0.12, or even drop to the bottom of 0.1. The most dangerous thing now is to impulsively catch falling knives. You need to wait like a hunter, waiting for the market to drop thoroughly and for real panic bottom signals to appear.
Focus on Liangyi, let's seize opportunities together in the fluctuations! The market is always changing, but Liangyi's analysis will not stop. If you don't want to be a lost lamb in the crypto circle, hurry up and follow me, join the room, and I'll help you see through the logic behind the rises and falls. On the path of cryptocurrency, Liangyi will accompany you steadily!
