Radar

Dogecoin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/analysts-predict-sharp-swings-for-dogecoin-as-interest-rises" rel="noopener noreferrer nofollow">Analysts Predict Sharp Swings for Dogecoin as Interest Rises</a><br></p>
<p style="text-align: justify"><a href="https://en.bitcoinhaber.net/technical-analysis-insights-for-dogecoin-in-the-futures-market" rel="noopener noreferrer nofollow">Dogecoin</a>, the well-known meme-inspired cryptocurrency, has recently experienced a decline, dropping below $0.079. Ali Martinez, a seasoned crypto analyst, has issued an alert for potential heightened volatility in DOGE’s price, which may result in significant market fluctuations.</p>
<h2 id="dogecoin-s-volatility-on-analysts-radar">Dogecoin’s Volatility on Analysts’ Radar</h2>
<p style="text-align: justify">Martinez broadcasted his prediction on Twitter, pointing to the constricted Bollinger Bands in a 4-hour chart as a precursor to potential price turbulence. This technical indicator, which measures market volatility and price trends, has narrowed to a squeeze not seen since October 2023, hinting at an impending volatile movement for Dogecoin.</p>
<h2 id="market-movements-and-potential-upswing">Market Movements and Potential Upswing</h2>
<p style="text-align: justify">Despite the recent price slip, DOGE’s open interest—a measure of market activity—has seen an uptick of 2.47% in the last day, reaching over $432 million. This growing interest contrasts the heavy liquidation of long positions, amounting to approximately $653,000, which some experts believe contributed to Dogecoin’s price dip.</p>
<p style="text-align: justify">As investors continue to engage with Dogecoin through derivatives, the altcoin’s immediate trajectory suggests a downward trend with a marginal 0.10% decrease in value over the past day. Nevertheless, another analyst, Crypto Patel, remains optimistic, projecting a potential future surge to a $3 price point during the current bull run, given a strong upward move from the $0.11 level.</p>
<p style="text-align: justify">Patel also sets a more conservative target of $1, conditional upon a robust breakout. This outlook stems from pattern analysis and the historical performance of Dogecoin, which previously yielded a 268-fold return in its last major bull run. The anticipation of such a significant price increase reflects both the speculative nature of cryptocurrency markets and the impact of investor sentiment on meme coins like Dogecoin.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/analysts-predict-sharp-swings-for-dogecoin-as-interest-rises" rel="noopener noreferrer nofollow">Analysts Predict Sharp Swings for Dogecoin as Interest Rises</a></h5>

Analysts Predict Sharp Swings for Dogecoin as Interest Rises

목차

BH NEWS

2024년 2월 5일에 게재된 다른 기사

Polygon (MATIC) On-Chain Metrics Hints at Mega Rally Ahead

Decentralized Social Media Platform Friend.Tech Faces Slowdown After Initial Hype

ProBit Global Marks Gaming Milestone, Lists GameGPT’s DUELTOKEN

Jupiter Token (JUP) Price with LFG Launchpool Optimism

CRO Crypto Price is 15% down in 3 Weeks; What’s Next for Bulls?

Why is Arcblock Price Up By 140%? Analyst Warns ABT Investors Of This Metric

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!