Understanding what’s next for Dogecoin’s price action after OI hits $5.5 billion

AMB Crypto 8 months ago 303

Dogecoin recorded figures of $5.5 billion in Open interest, reflecting high trader speculation
Critical $0.36 support level could determine whether Dogecoin’s rally continues or reverses

Dogecoin’s [DOGE ($0.20)] rally above the critical $0.39 resistance has reignited bullish sentiment, but the sustainability of this momentum hangs in the balance. With $0.36 emerging as a pivotal support zone, a breach below this level could signal a bearish reversal, putting recent gains at risk.

Adding to the intrigue, Dogecoin recently hit a record $5.5 billion in Open Interest, reflecting heightened trader activity and speculation. Does this rally have the strength to continue, or is a bearish shift on the horizon?

Dogecoin – Testing key levels

Dogecoin was trading at $0.3983 at press time, facing strong resistance near $0.40 as seen on the daily chart. The RSI seemed to be nearing the overbought zone, signaling that bullish momentum could be slowing.

Despite this, however, the OBV maintained a steady upward trajectory – A sign of solid trading volume and market interest.

BitRss shares this Content always with

License.

Read Entire Article

Screenshot generated in real time with SneakPeek Suite

Search Crypto News

The latest Top News, only from Leading exponents of BlockChain, Bitcoin, Altcoins and different Accredited Crypto Currency Sources.

Since 2015, our Mission was to Share, up-to-date, those News and Information we believe to represent in an Ethical and sincere manner the current Crypto Currencies World: everything you are looking for, in one place!

We have always tried to give priority to the News and the Sources; for this reason we have designed this New Version of BitRss.com with a clean and simple Style, usable by all Devices, fast and effective. Our exclusive Algorithm, in addition to filtering (a lot..) sponsored content of dubious interest, Lists the News, in Chronological order of Publication on the Internet, allowing our Users to Follow the Flow of Articles in a fast and intuitive way.

You can also check the Cryptocurrency Price in Real Time directly in the shared Articles (the TAG's highlighted in green), which allows you to Learn more about the Market Trend of that particular Coin with many other related information. Each content includes always a Screenshot of the Article's Source.