DOGE Testing Critical Resistance: Double Bottom Formation in Focus

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DogeCoin (DOGE) continues to be closely monitored by technical analysts. With the current price at $0.12 and a 4.21% drop in 24 hours, the coin is at a critical moment, where the double bottom formation remains under test, especially in the $0.125 region.

Technical Signals Converge

Technical indicators show positive convergence. The 4-hour KDJ signal generated a favorable crossover, while the (MFI) money flow index indicates an upward trend. These signals suggest potential institutional accumulation at lower levels, reinforcing the importance of the double bottom formation as structural support.

On-Chain Data and Market Sentiment

On-chain analysis reveals that sentiment is normalizing. With 50.98% of participants optimistic and 49.02% pessimistic, the market is in balance, suggesting a gradual improvement after periods of selling pressure.

Key Levels to Watch

Traders should pay attention to the following levels: main support at $0.125, immediate resistance near $0.134, and a volume cluster (POC) around $0.14. These levels define the operational space in the coming days.

Technical analysis for informational purposes, valid for 1-5 days. Not investment advice.

DOGE0,74%
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