Dogecoin has turned bearish after losing the crucial $0.10 psychological support, increasing concerns of a deeper correction in the coming days. The broader crypto market weakness, combined with declining derivatives activity, has added further pressure on the memecoin. The latest drop comes as Bitcoin and the altcoin market continue to face macro-driven selling pressure, while the DOGE price appears to be breaking down from a multi-week rising structure.
With momentum weakening and Open Interest declining sharply, traders are now watching whether DOGE price could extend its losses toward lower support zones.
Dogecoin is trading within a rising parallel channel after rebounding from the yearly lows near $0.078. Dogecoin recently faced rejection from the upper boundary of the ascending…
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Source coinpedia.org
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