Dogecoin (DOGE) faced a strong selling pressure two days ago on October 9. As a result, there were changes in prices and signs reminiscent of June for investors. This situation also reflected the power loss experienced by the bulls and was not considered a positive sign for investors looking to make long-term investments in Dogecoin.

도지코인(DOGE)은 이틀 전 10월 9일 강한 매도 압력에 직면했습니다. 그 결과 투자자들에게는 6월을 연상시키는 가격 변화와 징후가 있었습니다. 이 상황은 또한 강세가 경험한 전력 손실을 반영했으며 Dogecoin에 장기 투자를 원하는 투자자에게는 긍정적인 신호로 간주되지 않았습니다.

Due to the volatile market conditions and the war-like atmosphere, a strong bearish sentiment seems to have formed in the market. With this sentiment, a breakthrough can occur in the price support zone. As a result, investors trading on a daily basis may seek opportunities in short positions.

How Much is Dogecoin Worth?

도지코인의 가치는 얼마입니까?

The area indicated by the red box points to an important point. This red box indicates the boundaries of the 4-hour bullish order block located in the $0.06 region. The movement in price on Monday resulted in a breakthrough below this zone. As a result, potential price movements regarding the future of DOGE also emerged.

The price rally at the end of September brought a series of Fibonacci retracement levels (pale yellow). This price movement brought along a process in which the price continued from $0.0593 to $0.0642 before the start of the retracement movement.

9월 말의 가격 상승으로 일련의 피보나치 되돌림 수준(연한 노란색)이 나타났습니다. 이러한 가격 움직임은 되돌림 움직임이 시작되기 전에 가격이 $0.0593에서 $0.0642까지 지속되는 과정을 가져왔습니다.

As a result, traders can consider short positions after a possible rejection and retest from the resistance zone ahead of the decline. The Relative Strength Index (RSI), closely monitored by investors, also reflected a clear downward momentum. In addition, On-Balance Volume (OBV) was also in a downward trend in October.

The Future of Dogecoin

도지코인의 미래

Cumulative Volume Delta (CVD) remained in a sideways trend between October 5 and October 9 when price movements occurred. It started to decline after October 9, Monday. This price decline also showed parallelism with Bitcoin‘s (BTC) movement. During the same period, the price of Bitcoin dropped to $27,400.

The Open Interest (OI) chart also showed a downward trend. Decreases in open interest generally indicate potential declines in futures. Therefore, larger losses in Dogecoin may be seen in the market in the coming days.

계속 읽기: https://en.coin-turk.com/will-the-fear-in-dogecoin-come-true-how-did-bitcoins-price-movement-affect-dogecoin-are-investors-running-away /