Dogecoin (DOGE) Price Prediction for July 25
Main Idea
Dogecoin's price has reversed sharply after a failed breakout, with technical indicators and market data suggesting continued bearish pressure in the short term.
Key Points
1. Dogecoin's price dropped below $0.24 after a rejection from the $0.29 supply zone, forming a bearish engulfing pattern.
2. Technical indicators like the Supertrend, DMI, and MACD confirm bearish momentum, with sellers dominating the market.
3. Derivatives data shows a surge in volume but a drop in open interest and options volume, indicating long liquidations.
4. Key resistance levels are at $0.2420 and $0.2515, while support levels are at $0.2245 and $0.2064.
5. The RSI hints at a possible short-term bounce but remains below neutral, and the MACD shows weak, bearish signals.
Description
After rising above $0.29 earlier this month, Dogecoin price today has reversed sharply, dropping below $0.24 as sellers reclaimed short-term control. The move follows a clear market structure shift on the daily chart, with DOGE now returning inside its previous trend channel. The recent decline also coincides with significant changes in derivative metrics and intraday momentum. What’s Happening With Dogecoin’s Price? DOGE price prediction (Source: TradingView) On the daily chart, Dogecoin has fa...
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