Dogecoin has increased by price, the king of the same having recorded an increase of more than 3 % in the last 24 hours. Although the gain may not seem spectacular on the surface, it had a notable effect on traders – especially those who were betting against the room.
In short
- Dogecoin increased by more than 3 % in 24 hours, triggering significant liquidations of short positions.
- Short positions recorded $ 5.24 million in liquidations, compared to 2.80 million for long positions.
- Technical indicators such as the MacD and the RSI indicate a bullish momentum under construction.
Dogecoin climbs, the sellers uncovered caught off guard
While the price of the DOGE appreciated slightly, many traders in the short position have been forced to close their positions, causing a wave of liquidation. This change led to a 200 % liquidation imbalance on the market, mainly affecting those who held short positions on Dogecoin.
According to data from Quincethe trades shorts underwent $ 5.24 million in 24 hours, while long positions recorded 2.80 million. This gap shows how the sudden rebound in the price has left many exposed sellers exposed, unable to react fairly quickly.
In just one hour, the shorts short lost $ 741,090, against only $ 18.62 for long. On a four -hour window, short positions faced $ 19.54K in liquidations, while long was $ 410.06K. Even looking at the graphic at an hour, short positions lost $ 19.13K, and long $ 2.59K. On all time intervals, shorts have systematically undergone heavier losses.
Signs of strength in the graphics
Looking at the current technical indicators, Dogecoin shows early signs of bullish impetus. The MacD line is 0.01338, just below the signal line which is 0.01360. The histogram is at -0,00021, suggesting that the lines are starting to converge. If they meet, this would reflect potential reversal of the momentum in favor of buyers.
The RSI also offers useful indications. It is currently at 59.79, well below the level of surachat fixed at 70. This means that there is still room for the price to rise without being considered as they are. In addition, the RSI forms higher hollows, which can be a sign of buyers' strengthening.
Analysts monitor key levels
With the recent price rebound and liquidations that accumulate on the short side, some market analysts have started to sketch the next possible steps for Dogecoin.
The main commentator Crypto Ali Martinez noted that if the part could properly cross the $ 0.239 mark, this could open the way to a movement around $ 0.265. This level is closely monitored, because its crossing could encourage more purchases and strengthen the market feeling in favor of Bulls.
Another analyst, World of Chartsobserved that Dogecoin could have formed a bullish flag. This type of configuration generally appears after a short -term rally and can point out a continuation if the price crosses the upper limit of the flag. In this case, the next price target mentioned would be around $ 0.30.
Likewise, Javon Marks linked the bullish cycles passed from Dogecoin to its current configuration. He noted that, according to the past behavior of the same, it could increase by at least 215 % to reach $ 0.7,3905.
Although these points of view do not guarantee results, they reflect how the atmosphere around Dogecoin begins to evolve. The recent increase in the number of active addresses, combined with a lighter liquidation on long positions and increasing pressure on shorts, reinforces the possibility of an additional bull movement.
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