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Dogecoin It slipped further south on Sunday amid signals from a leading analyst that the memecoin’s bottom may still be some way off.
Ali Martinezcryptocurrency researchers and traders at large, have identified $0.058 as the key level where they will start collecting DOGE – more than 37% from current prices.
$0.058 is the level I am looking to start collecting Dogecoin $DOGE. pic.twitter.com/KPWrEaqfAg
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The Moving Average Convergent Divergence Index, which compares two of the fastest moving averages of an asset’s price, typically 12-period and 26-period, is flashing a “buy” signal for DOGE, according to TradingView.
In contrast, the interesting Oscillator, an indicator that compares recent market movements with historical market movements, highlighted a “sell” signal. The relative strength index, used to mark overbought and oversold conditions, was “neutral” as of this writing.
Meanwhile Polymarket Punters are betting more than 50% that DOGE will close below $0.06 this year.
Trend: Create your own AI-powered index in minutes – and get an unlimited 1% match when you take your portfolio public. Learn how it works.
The world’s most popular cryptocurrency has fallen sharply, with trading volume down 33% in the past 24 hours, as the escalating conflict in the Middle East weighed down the broader cryptocurrency market.
Spot price declines spilled over into derivatives, with open interest in DOGE futures sliding 9.72% over the past 24 hours, according to CoinGlass. Since the beginning of the year, more than $500 million has been written off in open interest.
Photo: ihrinmoisuc on Shutterstock.com
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This article to see the level of Dogecoin as Memecoin suffered in Iran war? Prominent Analyst Says They’re Looking Forward to ‘Collecting Starts’ appeared here originally on Benzinga.com
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