Price: $0.16617 -4.4849%
Market Cap: 24.67B 0.9178%
Volume (24h): 1.03B 0%
Dominance: 0.9178%
Price: $0.16617 -4.4849%
Market Cap: 24.67B 0.9178%
Volume (24h): 1.03B 0%
Dominance: 0.9178% 0.9178%
  • Price: $0.16617 -4.4849%
  • Market Cap: 24.67B 0.9178%
  • Volume (24h): 1.03B 0%
  • Dominance: 0.9178% 0.9178%
  • Price: $0.16617 -4.4849%
Home > News > Dogecoin at a Crossroads: Recovery or Further Decline? Key Levels to Watch

Dogecoin at a Crossroads: Recovery or Further Decline? Key Levels to Watch

Release: 2025/03/18 21:40 Reading: 931

Original author:The Bitcoin Daily

Original source:https://coinmarketcap.com/community/articles/67d96c777084d372393e4809

Dogecoin at a Crossroads: Recovery or Further Decline? Key Levels to Watch

Dogecoin (DOGE), the meme-inspired cryptocurrency, is facing a critical test. After losing nearly all its November and December 2023 gains, it's struggling to regain momentum. Bastian (Bitbull)'s price analysis highlights key support and resistance levels crucial to DOGE's next move.

Currently, DOGE is holding at the 800-day Exponential Moving Average (EMA), a significant support level. This area acted as a strong accumulation zone during summer 2023, with high trading volume. However, liquidity below the current price remains largely untapped, suggesting potential downward pressure if this support breaks. Conversely, significant liquidity above the current price offers a potential target for a recovery rally. DOGE's performance remains closely tied to Bitcoin (BTC); a BTC reversal could lift DOGE, while a continued BTC decline could pressure DOGE's support.

4-Hour Chart: Resistance at the 50 EMA

On the 4-hour chart, DOGE is testing the 50-day EMA, a level that has repeatedly acted as resistance. Rejection here could push the price back towards the key support zone. The MACD (Moving Average Convergence Divergence) indicator shows weakening positive momentum, nearing a potential negative shift. The RSI (Relative Strength Index), hovering near 50, reflects market indecision. A sustained breakout above the 50-day EMA could target the 4-hour 200-day EMA, suggesting a potential recovery. However, maintaining upward momentum depends on the 50-day EMA holding as support during pullbacks.

Liquidation Levels and Market Sentiment

Current liquidation levels show long positions outweighing short positions within this price range, with a long delta of $150 million. This could create short-term upward pressure, provided sufficient buying momentum emerges.

In Summary

Dogecoin's short-term outlook depends on defending crucial support levels and capitalizing on potential liquidity above the current price. While market uncertainty remains, a recovery is possible if Bitcoin stabilizes and DOGE gains momentum. Failure to hold key levels, however, could lead to further declines, emphasizing the importance of close monitoring of these technical indicators.

Selected Topics

  • Dogecoin whale activity
    Dogecoin whale activity
    Get the latest insights into Dogecoin whale activities with our comprehensive analysis. Discover trends, patterns, and the impact of these whales on the Dogecoin market. Stay informed with our expert analysis and stay ahead in your cryptocurrency journey.
  • Dogecoin Mining
    Dogecoin Mining
    Dogecoin mining is the process of adding new blocks of transactions to the Dogecoin blockchain. Miners are rewarded with new Dogecoin for their work. This topic provides articles related to Dogecoin mining, including how to mine Dogecoin, the best mining hardware and software, and the profitability of Dogecoin mining.
  • Spacex Starship Launch
    Spacex Starship Launch
    This topic provides articles related to SpaceX Starship launches, including launch dates, mission details, and launch status. Stay up to date on the latest SpaceX Starship launches with this informative and comprehensive resource.
  • King of Memes: Dogecoin
    King of Memes: Dogecoin
    This topic provides articles related to the most popular memes, including "The King of Memes: Dogecoin." Memecoin has become a dominant player in the crypto space. These digital assets are popular for a variety of reasons. They drive the most innovative aspects of blockchain.