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Dogecoin increased by the price that the king has seen in the last 24 hours by more than 3 %. Although profit may not seem spectacular on the surface, it had a remarkable effect on traders – especially those who were betting against the room.
In short
- Dogecoin increased by more than 3 % in 24 hours, which triggered significant destruction of short positions.
- Short positions recorded liquidation of $ 5.24 million compared to $ 2.80 million for long positions.
- Technical indicators, such as MacD and RSI, indicate the construction of bull momentum.
Dogecoin rises, sellers uncovering captured out of sight
While the price of the DOGE appreciated slightly, many traders in a short position were forced to close their positions, causing a wave of liquidation. This change led to 200 % imbalance of liquidation on the market, which was mainly influenced by those who held short positions in dogecoin.
According to Coinglass data, shorts were $ 5.24 million in 24 hours, while long positions recorded 2.80 million. This gap shows how a sudden reflection in the price left many exposed sellers exposed, unable to react relatively quickly.
In just an hour, short shorts lost $ 741,090, compared to only $ 18.62 for a long time. On the fourth window, short positions faced liquidation $ 19,54,000, while long was 410.06 hp. Even looking at graphics in an hour, short positions lost $ 19.13,000 and $ 2.59,000. At all time intervals shorts have systematically undergo heavier losses.
Signs of force in graphics
Looking at the current technical indicators, dogecoin shows early signs of the bull. The MACD line is 0.01338, just below the signal line, which is 0.01360. The histogram is at -0 00021, indicating that the lines are beginning to converge. If it meets, it would reflect the potential conversion of the momentum in favor of buyers.
RSI also offers useful indications. It is currently at 59.79, which is significantly below Suurahat set for 70 years. In addition, RSI creates higher cavities, which may be a sign of strengthening buyers.
Analysts follow the levels of keys
With the recent discharge of price and liquidation, which accumulates on the short side, some market analysts began to draw further possible steps for dogecoin.
Crypto Ali Martinez’s main commentator noted that if part could correctly exceed $ 0.239, it could open the movement of around $ 0.265. This level is carefully monitored because its transition could support more purchases and strengthen the market feeling in favor of bulls.
Another analyst, World of Grafs, noted that dogecoin could create Haussier’s flag. This type of configuration generally occurs after a short period of time and can point out if the price exceeds the upper limit of the flag. In this case, the next price goal would be around $ 0.30.
Similarly, Javon Marks linked Haussiers from Dogecoin to his current configuration. He noted that, according to his previous behavior, at least 215 % could increase $ 0.7,3905.
Although these aspects do not guarantee the results, they reflect how the atmosphere around dogecoin begins to evolve. The recent increase in the number of active addresses combined with lighter disposal in long positions and increasing pressure on shorts strengthens the possibility of further movement of bulls.
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IFOLOWA specializes in writing and marketing Web3, with more than 5 years of experience in creating bright and strategic content. In addition, it trades in crypt and is qualified in performing technical, basic and chains.
Renunciation
The words and opinions expressed in this article are involved only by their author and should not be considered investment counseling. Do your own research before any investment decision.