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.
受加密货币市场有关现货比特币 ETF 的最新消息以及影响币安的法律问题的影响,狗狗币 (DOGE) 的价格在整个 11 月份表现出较高的波动性。尽管每日时间框架图表上的价格波动明显,但这些波动并未形成明确的趋势,表明控制权并未牢牢掌握在多头或空头手中。在这次盘整中,狗狗币遵循三角形形态和新形成的上升支撑趋势线,可能会影响其短期趋势。
Dogecoin Price Analysis
狗狗币价格分析
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.
著名的模因币狗狗币因其参与太空计划而再次吸引了投资者的关注。围绕该硬币的最新进展包括 DOGE-1 Cubesat 的部署,这是 SpaceX Nova-C/IM-1 卫星发射的一部分,该卫星发射已推迟约两年。这些更新表明 DOGE-1 月球任务已获得监管部门批准,将于 2024 年 1 月 12 日开始。
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.
目前,DOGE价格交投于0.08美元,在新的支撑趋势线影响下逐渐上涨。尽管 11 月份的不确定性增加,但 memecoin 的价格多次从这条上升趋势线获得支撑,帮助买家保持持续上涨。
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.
因此,价格预计将上涨约 5%,然后在长期三角形形态的上部趋势线上遇到 0.084 美元左右的阻力。历史数据表明,重新测试这条趋势线往往会增加下行动能并导致大幅回调,因此投资者此时需要保持谨慎。
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.
因此,确认跌破上述支撑趋势线可能会增加抛售压力,导致当前价格可能下跌 28%,从而导致狗狗币跌至较低的趋势线。
Is DOGE Ready for an Uptrend?
DOGE准备好迎接上升趋势了吗?
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.
DOGE的价格在大约两年的时间里一直受到对称三角形形态的影响,呈横盘趋势。如果代币的价格从上述的上方趋势线转向,预计下个月将继续横盘整理。因此,为了更明确地确认复苏,买家需要看到价格突破三角形形态。
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.
每日时间范围内的相对强弱指数(RSI)斜率表明山寨币的看涨势头正在减弱,价格下跌的可能性很高。同样,布林线 (BB) 指标相对平坦的上限为 0.084 美元,这可能会成为针对买家的额外障碍。
- Dogecoin’s price shows continuous volatility.
- Triangle formation could influence the short-term trend.
- Breaks in support trend line may signal downturns.
狗狗币的价格显示出持续的波动。
三角形的形成可能会影响短期趋势。
支撑趋势线的突破可能预示着下跌。
继续阅读:https://en.coin-turk.com/understanding-dogecoins-volatile-ride-analysis-and-key-levels-to-watch/