“Dogecoin Slid 6% Amid Bearish Pressure But Held Support Near $ 0.227. High-Volume Buying and Investor Confidentnce Suggest A Potential Rebound Is In Play.”, – WRITE: www.coindesk.com
Dogecoin Slides Below $ 0.23 But Finds Support As Buyer Demand RebuildsDogecoin Slid 6% Amid Bearish Pressure But Held Support Near $ 0.227. High-Volume Buying and Investor Confidentnce Suggest A Potential Rebound Is In Play. May 24, 2025, 4:31 PM
Doge Slides Below $ 0.23 But Finds Support Near $ 0.2227 After volatile session
What to Know:
- Doge Fell From $ 0.238 to $ 0.2227 Over 24 Hours But Stabilized at Strong Support, Forming A Consolidation Zone.Volume Surged Dringing The 23:00 Hour, With 643m Traded – Welel – Welll – Welll – Welll ABEEL. Access to Coindesk Research’s Technical Analysis Data Model.
- Despite a Bearish Channel, Buyers Steped in Repeatedly at $ 0.227, Suggesting Confidentnce Even Amid Global Market Headwinds.
Global Economic Uncertainties and Trade Policy Shifts Are Creating Ripple Effects Across Cryptocurrency Markets, With Dogecoin Showing Resiliency Despite Recent.
The Meme Coin Has ForMed A Clear Bearish Channel with Resistance at $ 0.236, Thought Strong Buying Emerged at Support Levels, Indicating Invistor Convance Remates Des.
Technical Analysis Highlights
- Doge ExperienCed A Significant Downtrend Over the 24-Hour Period, Falling from 0.238 to 0.227, Representation A Range of 0.015 (6.3%).
- The Price Action ForMed A Clear Bearish Channel with Resistance at 0.236 and Support Emerging AUND 0.224.
- High-Volume Buying Occurred Dringing the 23:00 Hour with 643m in Volume-Significantly Above the 24-Hur Average.
- After reaching the Cycle Low, Doge Has Establissed a Consolidation Pattern BetWeen 0.227-0.230, with Decreasing Volatility.
- In the Last Hour, Doge Exhibited Significant Valativity with A Clear Downward Bias, Falling From 0.229 to 0.227 (0.87% Decline).
- The Price Action ForMed A Series of Lower Highs and Lower Lows, with Notable Selling Pressure at 13:35 and 13:56.
- A TEMPORARY SUPPORT LEVEL FORMED AT 0.227 with Buyers Stepping in at 14:01, Generation the Hour’s Higher Volume of 4.5m.
External References
- “Dogecoin (Doge) Heats Up: Upside Move Hints at Major Breakout Ahead”, Newsbtc, Published May 23, 2025.
- “Dogecoin Targets $ 0.50 As Open Interest Crosses $ 3 Billion”, The Crypto Basic, Published May 23, 2025.
- “Dogecoin Price Breaks Out of Bearish Trendline and Enters Ascending Channel Headed for $ 0.3”, Newsbtc, Published May 24, 2025.
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