DOGE Stabilizes Following Drop Caused by Tariffs

Global economic uncertainties and fluctuations in trade policies are impacting cryptocurrency markets, with Dogecoin demonstrating notable resilience amid recent declines.

The cryptocurrency has established a distinct bearish trend, encountering resistance at $0.236, although robust buying activity at support zones reflects maintaining investor confidence despite wider market jitters.

Key Points from Technical Analysis

• DOGE faced a considerable downtrend within a 24-hour window, dropping from 0.238 to 0.227, marking a movement of 0.015, or 6.3%.
• The price trajectory has created a definitive bearish channel, featuring resistance at 0.236 and emerging support at approximately 0.224.
• A surge in buying occurred during the 23:00 hour with a substantial volume of 643 million, well above the average for the day.
• Following the low point of the cycle, DOGE has formed a consolidation phase between 0.227 and 0.230, with volatility decreasing.
• In the past hour, DOGE displayed notable volatility, downwardly moving from 0.229 to 0.227, representing a 0.87% decrease.
• The price movement has resulted in a sequence of lower highs and lower lows, with discernible selling pressure noted at 13:35 and 13:56.
• A temporary support level was established at 0.227, with buyers entering the market at 14:01, driving the highest volume of the hour to 4.5 million.