“The token defended its ascending channel structure despite distribution pressure at the upper boundary, keeping short-term bias neutral-to-bullish above $0.16.”, — write: www.coindesk.com
News Background
- Institutional positioning continued to define DOGE’s intraday structure. Large-cap holders accumulated near $0.1620 early in the week, then trimmed exposure as bids thinned near $0.1670.
- The Tuesday breakout attempt on 774M volume marked the session’s pivot — confirming that smart-money participation, not retail noise, drove the move.
- Broader sentiment across the meme-coin complex remained muted, although derivative open interest in DOGE futures climbed modestly on Binance and Bybit, hinting at speculative hedging rather than outright risk-taking.
- Analysts said the pair’s resilience above $0.16 reflected disciplined profit rotation rather than trend exhaustion.
Price Action Summary• DOGE advanced from $0.1646 to $0.1665 before mild pullback to $0.1657
• Support held at $0.1617–$0.1620 across four consecutive hourly tests
• Volume concentrated at $0.1665 highs (8.9M during 02:10–02:11) showing institutional distribution
• Channel structure remains constructive with higher lows, suggesting potential for renewed breakout attempts above $0.16.
Technical Analysis• Trend: Sideways-to-bullish within ascending channel
• Support: $0.1620 primary; $0.1617 secondary buffer
• Resistance: $0.1665–$0.1670 zone repeatedly rejected on high volume
• Volume: 774M turnover (+104% vs SMA) confirms institutional participation
• Structure: Channel intact, volatility 4.2% — compression phase preceding next directional move.
What Traders Are Watching• Ability of bulls to defend $0.1620 on declining volume — key for structural integrity
• Breakout confirmation above $0.1670 for continuation towards $0.17–$0.175
• Any intraday closes below $0.1615 signaling structural failure and downside expansion
• Cross-asset flow from BTC or SOL rotations as broader market gauges appetite for risk
A deep dive into Zcash’s zero-knowledge architecture, shielded transaction growth, and its path to becoming encrypted Bitcoin at scale.
- Shielded adoption surgedwith 20–25% of circulating ZEC now held in encrypted addresses and 30% of transactions involving the shielded pool.
- The Zashi wallet made shielded transfers the default, pushing privacy from optional to standard practice.
- Project Tachyonled by Sean Bowe, aims to boost throughput to thousands of private transactions per second.
- Zcash surpassed Monero in market share, becoming the largest privacy-focused cryptocurrency by capitalization.
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The move marked the token’s strongest daily gain in a week and outperformance against a declining broader market, with traders now eyeing a clean push toward $2.50.
- XRP surged 4.9% to $2.35, breaking key resistance on increased institutional volume.
- Ripple, Mastercard, and others launched a stablecoin settlement pilot using RLUSD on the XRP Ledger.
- Traders view the pilot as a validation of Ripple’s infrastructure beyond cross-border remittances.
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