Dogecoin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/analysts-expect-dogecoin-to-maintain-positive-trend/" data-wpel-link="internal">Analysts Expect Dogecoin to Maintain Positive Trend</a><br></p>
<p style="text-align: justify">Meme coin leader Dogecoin (<a href="https://en.coin-turk.com/dogecoin-doge-price-analysis-will-doge-continue-to-rise/" data-wpel-link="internal">DOGE</a>) continues to stay in the positive zone with a 1.68% weekly gain. Despite the bearish market outlook, DOGE has not lost all its weekly gains, and analysts remain optimistic about its upward trend. A chart shared by TradingShot on July 24 suggests that Dogecoin might be repeating past price movements.</p> 
<h2 style="text-align: justify" id="doge-s-history">DOGE’s History</h2> 
<p style="text-align: justify">According to the analysis, from 2014 to 2017, Dogecoin experienced a decline followed by an accumulation phase. During this 3-year period, DOGE’s price plummeted by an incredible 96.26%, hitting a low of $0.002198. After the decline, Dogecoin remained in a consolidation zone for approximately 1,050 days (150 weeks).</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-373719" src="https://coin-turk.com/wp-content/uploads/2024/07/btc-kripto-1-coin-turk-com.png" alt="" width="508" height="183"></p> 
<p style="text-align: justify">Following this period, from 2017 to 2018, the price movement indicated a rally. However, things changed from 2018 to 2019, and Dogecoin showed a downward trend. This decline reached 92.96%, causing panic among <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a>. The events followed a cycle, and after hitting the bottom, a new accumulation phase began.</p> 
<p style="text-align: justify">Since 2020, Dogecoin appears to be in a new accumulation phase. Considering past price movements, this phase seems to parallel previous events and suggests consolidation before a potential new breakout.</p> 
<h2 style="text-align: justify" id="doge-comments">DOGE Comments</h2> 
<p style="text-align: justify">Looking at the DOGE chart, the first support level is seen between $0.07 and $0.08, sustained by the 1-week moving average line. This level has previously served as significant support during accumulation phases and can be considered a precursor to potential breakouts.</p> 
<p style="text-align: justify">The next deeper support level is found around the $0.002198 region, which was one of the critical levels during past accumulation phases.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-373720" src="https://coin-turk.com/wp-content/uploads/2024/07/btc-kripto-2-coin-turk-com.png" alt="" width="498" height="185"></p> 
<p style="text-align: justify">Regarding resistance, the 0.236 Fibonacci retracement level at the $0.20 region marks an important point. For the upward movement to gain real momentum, surpassing this region is crucial. Beyond that, the resistance at the 0.618 Fibonacci level, located around the $2 region, remains distant and overly optimistic for now.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/analysts-expect-dogecoin-to-maintain-positive-trend/" data-wpel-link="internal">Analysts Expect Dogecoin to Maintain Positive Trend</a></h5>
<p>The post <a href="https://en.coin-turk.com/analysts-expect-dogecoin-to-maintain-positive-trend/" data-wpel-link="internal">Analysts Expect Dogecoin to Maintain Positive Trend</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.</p>

Analysts Expect Dogecoin to Maintain Positive Trend

Tabla de contenidos

COINTURK NEWS

Otros artículos publicados el 25 jul 2024

Elon Musk Forecasts U.S. Economic Peril: Insights on Imminent Financial Instability

Cryptocurrency Market Faces Decline as Altcoins Drop

DEX dYdX Recovers from DNS Hijacking Attack on v3 Platform

Nach Erfolg in den USA will Ferrari jetzt auch von europäischen Händlern Krypto-Zahlungen annehme...

FCA Imposes Fine on CB Payments Limited for Compliance Violations

WazirX Reports Breach to FIU, Reaches Out to 500+ Exchanges After $235M Hack

¡Únete a nuestro boletín gratuito para recibir actualizaciones diarias de criptografía!