Dogecoin’s (DOGE) price showed high volatility throughout November, influenced by the latest news in the cryptocurrency market regarding a spot Bitcoin ETF and legal issues impacting Binance. Despite noticeable sharp price movements on the daily time-frame chart, these fluctuations didn’t establish a definitive trend, indicating that control wasn’t firmly in the hands of bulls or bears. Amidst this consolidation, Dogecoin is following a triangular formation and a newly formed ascending support trend line, potentially affecting its short-term trend.

Dogecoin Price Analysis

Dogecoin 가격 분석

The prominent memecoin Dogecoin has once again captured investors’ attention due to its involvement in a space program. Recent developments surrounding the coin include the deployment of the DOGE-1 Cubesat, part of SpaceX’s Nova-C/IM-1 satellite launch, which has been delayed for about two years. These updates show that the DOGE-1 lunar mission has received regulatory approval to commence on January 12, 2024.

저명한 밈코인인 도지코인(Dogecoin)이 우주 프로그램 참여로 다시 한번 투자자들의 관심을 끌었습니다. 코인을 둘러싼 최근 개발에는 SpaceX의 Nova-C/IM-1 위성 발사의 일부인 DOGE-1 Cubesat의 배치가 포함되며, 이는 약 2년 동안 지연되었습니다. 이러한 업데이트는 DOGE-1 달 탐사가 2024년 1월 12일에 시작하기 위한 규제 승인을 받았다는 것을 보여줍니다.

Currently, DOGE’s price is trading at $0.08, gradually rising under the influence of a new support trend line. Despite increased uncertainty in November, the memecoin’s price has found support from this rising trend line multiple times, aiding buyers in maintaining a consistent rally.

As a result, the price is expected to increase by approximately 5% before encountering resistance at around $0.084 on the upper trend line of the long-standing triangular formation. Historical data suggest that retesting this trend line often increases downward momentum and leads to significant corrections, so investors need to be cautious at this point.

결과적으로, 오랜 삼각 패턴의 상단 추세선에서 약 $0.084의 저항에 직면하기 전에 가격은 약 5% 증가할 것으로 예상됩니다. 과거 데이터에 따르면 이 추세선을 다시 테스트하면 하향 모멘텀이 증가하고 상당한 조정이 발생하는 경우가 많으므로 현 시점에서 투자자는 주의해야 합니다.

Therefore, a confirmed break below the aforementioned support trend line could increase selling pressure, leading to a potential 28% loss from the current price, causing Dogecoin to fall to a lower trend line.

Is DOGE Ready for an Uptrend?

DOGE’s price has been affected by a symmetrical triangle formation for about two years, moving in a sideways trend. If the coin’s price turns from the upper trend line as mentioned, it can be expected to continue moving sideways over the next month. Hence, for a more definitive recovery confirmation, buyers need to see the price break above the triangular formation.

DOGE의 가격은 약 2년 동안 대칭 삼각형 형성의 영향을 받아 횡보 추세를 보였습니다. 앞서 언급한 것처럼 코인 가격이 상단 추세선에서 벗어나면 다음 달에도 계속 횡보세를 보일 것으로 예상할 수 있습니다. 따라서 보다 확실한 회복 확인을 위해 구매자는 삼각형 형태 이상의 가격 돌파를 확인해야 합니다.

The Relative Strength Index (RSI) slope on the daily time frame indicates that the bullish momentum in the altcoin is waning, and there’s a high possibility of price decline. Similarly, the relatively flat upper boundary of the Bollinger Bands (BB) indicator at $0.084 could serve as an additional barrier against buyers.

일일 시간대의 상대강도지수(RSI) 기울기는 알트코인의 강세 모멘텀이 약해지고 가격 하락 가능성이 높다는 것을 나타냅니다. 마찬가지로 볼린저 밴드(BB) 지표의 상대적으로 평평한 상한인 $0.084는 구매자에 대한 추가적인 장벽 역할을 할 수 있습니다.

• Dogecoin’s price shows continuous volatility.
• Triangle formation could influence the short-term trend.
• Breaks in support trend line may signal downturns.

계속 읽기: https://en.coin-turk.com/understanding-dogecoins-휘발성-ride-analytic-and-key-levels-to-watch/