{"id":161083,"date":"2023-09-22T22:25:35","date_gmt":"2023-09-22T16:55:35","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=161083"},"modified":"2023-09-22T22:25:35","modified_gmt":"2023-09-22T16:55:35","slug":"doge-what-the-weak-support-level-signifies-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/doge-what-the-weak-support-level-signifies-crypto-news\/","title":{"rendered":"DOGE: What the weak support level signifies &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<div class=\"single-post-author-top\">\n<p>\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" data-del=\"avatar\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2022\/08\/image-1-80x80.jpeg\" class=\"avatar pp-user-avatar avatar-48 photo \" height=\"48\" width=\"48\" \/><\/p>\n<p>contributor<\/p>\n<\/p><\/div>\n<p>\t\t\t\t\t\t\t\t<span class=\"mvp-post-date updated\">Posted: September 22, 2023<br \/>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span><\/p>\n<\/p><\/div>\n<div>\n<p><i data-stringify-type=\"italic\">Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer\u2019s opinion.<\/i><\/p>\n<ul>\n<li><em>DOGE\u2019s price remained above the critical $0.06 support level.<\/em><\/li>\n<li><em>However, its price action and indicators suggested that buyers could be overwhelmed by selling pressure soon.<\/em><\/li>\n<\/ul>\n<p>The market correction over the past day curtailed <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/search\/DOGE\" data-wpel-link=\"internal\">Dogecoin\u2019s [DOGE]<\/a> bullish advancement from the $0.06 support level. However, buyers held up the support, with the meme coin trading at $0.0617, as of press time.<\/p>\n<hr \/>\n<p style=\"text-align: center\">How much are\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/convert\/100-doge-to-usd\" data-wpel-link=\"internal\">1,10,100 DOGEs worth today<\/a>?<\/p>\n<hr \/>\n<p>A 0.87% decrease in the global crypto market cap led by <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/search\/BTC\" data-wpel-link=\"internal\">Bitcoin\u2019s [BTC]<\/a> drop from $27.1k to $26.6k could see the bullish defense of the support level end prematurely, due to increasing selling pressure.<\/p>\n<h4><strong>Selling pressure could break weakening support level<\/strong><\/h4>\n<div id=\"attachment_345644\" style=\"width: 1950px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/DOGEUSDT_2023-09-22_09-44-42.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-345644\" class=\"size-full wp-image-345644\" src=\"image\/svg+xml,%3Csvg%20xmlns=\" alt=\"DOGE Dogecoin price chart on dark background\" width=\"1940\" height=\"1054\" data-lazy-srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/DOGEUSDT_2023-09-22_09-44-42.png 1940w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/DOGEUSDT_2023-09-22_09-44-42-300x163.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/DOGEUSDT_2023-09-22_09-44-42-1024x556.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/DOGEUSDT_2023-09-22_09-44-42-768x417.png 768w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/DOGEUSDT_2023-09-22_09-44-42-1536x835.png 1536w\" data-lazy-sizes=\"(max-width: 1940px) 100vw, 1940px\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/DOGEUSDT_2023-09-22_09-44-42.png\" \/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-345644\" class=\"size-full wp-image-345644\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/DOGEUSDT_2023-09-22_09-44-42.png\" alt=\"DOGE Dogecoin price chart on dark background\" width=\"1940\" height=\"1054\" \/><\/a><\/p>\n<p id=\"caption-attachment-345644\" class=\"wp-caption-text\">Source: DOGE\/USDT on Trading View<\/p>\n<\/div>\n<p>The $0.06 support level has been a strong rallying point for bulls. The bullish rally to the Q3 high of $0.0838 began from the level in mid-June. Also, the level has served as a key price defense to halt sustained selling pressure.<\/p>\n<p>Nonetheless, the recent price action around the level pointed to bullish exhaustion. Multiple retests of the level have suppressed the buying pressure of bulls, and the on-chart indicators hinted at a break below the level.<\/p>\n<p>The Relative Strength Index (RSI) dipped below the neutral 50 to highlight the loss of buying power. Similarly, the Chaikin Money Flow (CMF) fell from +0.11 to +0.02. This hinted at capital preservation moves by DOGE traders.<\/p>\n<p>Therefore, a break of the $0.06 support would see sellers target the $0.0557 to $0.0580 price zone. On the other hand, if bulls are able to hold the support level and BTC recovers, buyers can push for gains at $0.0640 to $0.0670.<\/p>\n<hr \/>\n<p style=\"text-align: center\">Read\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/predictions\/dogecoin-price-prediction\" data-wpel-link=\"internal\">Dogecoin\u2019s [DOGE] Price Prediction<\/a>\u00a02023-24<\/p>\n<hr \/>\n<h4><strong>Speculators leaned toward extension of bearish market structure<\/strong><\/h4>\n<p>Despite the recovery at the $0.06 support, Open Interest (OI) fell by 2.13% over the past 24 hours. Per <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coinalyze.net\/dogecoin\/open-interest\/\" data-wpel-link=\"external\">Coinalyze<\/a>, the OI declined from 221.3 million to 212.7 million. This hinted at a lack of conviction by market participants in DOGE\u2019s recovery.<\/p>\n<p>Likewise, the spot CVD continued to trend downwards. This showed that market speculators were actively reducing their exposure to DOGE in anticipation of an extension of its bearish market structure.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>contributor Posted: September 22, 2023 Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer\u2019s opinion. DOGE\u2019s price remained above the critical $0.06 support level. However, its price action and indicators suggested that buyers could be overwhelmed by selling pressure soon. The market correction over [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":161084,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-161083","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/161083","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=161083"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/161083\/revisions"}],"predecessor-version":[{"id":161089,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/161083\/revisions\/161089"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/161084"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=161083"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=161083"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=161083"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}