Dogecoin’s sentiment hit 4-month high; fell sharply afterward – Can bulls prevail?

Dogecoin’s [DOGE] sentiment hit 4-month high; fell sharply afterward - Can bulls prevail?

DOGE’s short-term plunge was kept in check by the $0.08484 support level. It allowed the bulls to rally and reclaim the 7% lost in the drop.

So, short-term bears could profit at $0.08484 or the 38.2% Fib level of $0.8418 if DOGE fails to clear the $0.08654 hurdle. Short-sellers should watch for a close below the 50% Fib level and retest to confirm the downtrend before making moves. However, the ideal buying opportunity for targeting the above levels is at $0.08484 or the 38.2% Fib level. These levels will offer a great discount alongside an impressive risk-to-reward ratio if DOGE recovers.The RSI showed a neutral structure, but the CMF leaned towards the bears as it moved southwards.According to Santiment, DOGE saw a rise in weighted sentiment after Elon’s tweet. The positive elevation reached the October 2022 level. Notably, DOGE hit $0.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

CryptoAmb /  🏆 22. in CA

Philippines Latest News, Philippines Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

When memes converge: Analyzing SHIB, DOGE, and BABYDOGE’s hikesMeme coins, including DOGE, SHIB, and BABYDOGE, recorded notable increases in value. While DOGE whale transactions increased, SHIB investor sentiment acted as its guide. As the broader crypto market exited the red region, Shiba Inu [SHIB], Dogecoin [DOGE], and BabyDoge ETH [BABYDOGE] followed through with immense upticks in the last 24 hours. Although the performance […]
Read more »

Dogecoin [DOGE]: Bulls focus on $0.09 target despite bearish sentimentDisclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion. DOGE’s market structure was neutral on the 12-hour chart. Despite the bearish sentiment, there was increased demand. Dogecoin [DOGE] tried to recover after falling into the $0.08 area. At press time, the bulls were […]
Read more »

Dogecoin: These metrics spike as Elon Musk reveals ‘dog-themed’ CEODogecoin’s social volume and positive sentiment increased as the Twitter CEO admitted to a future step down. Conversations between Elon Musk and DOGE creator fueled talks of a meme lover takeover. Once again, Elon Musk has left the Dogecoin [DOGE] community bewildered about what role the meme cryptocurrency might play in his Twitter rebrand. Prior […]
Read more »

Litecoin [LTC] bounces from $90, will there be a breakout past $100 this time?Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion. The four-hour market structure was broken, and a minor pullback could commence. The overall bias was bullish for Litecoin. Litecoin [LTC] slumped to $88.16 on 13 February, while Bitcoin [BTC] dipped to $21.3k. Since […]
Read more »

Polygon [MATIC]: Bulls successful at recovery – is a retest of $1.30 likely?Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion. MATIC broke below its ascending channel pattern but was held in check. A retest of $1.30 could be likely if BTC reclaimed the $22.25k level. Polygon [MATIC] successfully recovered but faced a hurdle at […]
Read more »

XRP bounces from mid-range support, but advantage remains with bearsDisclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion. The higher timeframe structure was bearish, but on lower timeframes, it had flipped bullish. A move upward to the resistance at $0.395 is likely. Ripple [XRP] traded within a range and the bulls forced […]
Read more »