Crypto Analyst Says Dogecoin Has Broken Macro Downtrend, Now Testing Support Between These Levels
Portfolio Pulse from Mehab Qureshi
Dogecoin (DOGE) has shown a 78% increase over the last month despite a recent price decline. Crypto analyst Rekt Capital highlighted that DOGE broke its macro downtrend and is now testing support between $0.12 and $0.20. Despite a decrease in daily active addresses and transaction count, Dogecoin's price rose by over 6% in the last 24 hours, with its market value positioning it as the 10th largest cryptocurrency.
March 19, 2024 | 12:00 pm
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Dogecoin has broken its macro downtrend and is testing support between $0.12 and $0.20, with a recent price increase of over 6%.
The breaking of the macro downtrend and successful retest as support indicates a potential for price stability or increase. The recent uptick in price, despite a decrease in network activity, suggests a positive short-term outlook for DOGE.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100