DOGE: Dogecoin went through a lot of ups and downs overnight, with prices going from $0.26 to $0.25 on a huge 2.15 billion tokens traded, which is much more than the usual 24-hour turnover.
Prices then stabilised near the quarter-dollar mark, where traders are trying to figure out if bids can take control again or if momentum will push prices down to $0.23.
The tape shows that prices have been rejected near $0.27, which sets a clear resistance level, while intraday flows are clustering around $0.25 as a working support level that could lead to a reflex bounce if there is more buying along with the “1-2” pattern that technicians are following towards the $0.28-$0.30 zone.
Midnight trading witnessed a drop from $0.26 to $0.25 on record volume of 2.15 billion, well above the 24-hour average of 344.8 million.
What to know:
- Dogecoin’s value dropped from $0.27 to $0.25, with almost 2.15 billion coins exchanged.
- The cryptocurrency is stabilising at $0.25, with traders looking for a possible comeback or further decrease.
- Analysts see a trend that suggests a breakthrough above $0.28-$0.30 if purchasing continues.
Dogecoin saw a strong overnight selloff, falling from $0.27 to $0.25 during the September 21-22 session, as institutional traders sold stakes in record quantities of 2.15 billion tokens.
The nocturnal rout sliced through support levels and erected new resistance zones, leaving DOGE consolidating around $0.25 as traders await a rebound or continuation down.
News Background
- DOGE declined 7% in the 24-hour period ending on September 22 at 02:00, from $0.27 to $0.25.
- Midnight trading fell from $0.26 to $0.25 on a record 2.15 billion volume, well above the 24-hour average of 344.8 million.
- Analysts identified a “1-2 pattern” development that has previously accompanied DOGE breaks over $0.28 to $0.30.
Price Action Summary
- DOGE’s range was $0.02 (≈8%) from a high of $0.27 to a low of $0.25.
- After multiple denials, resistance consolidated around $0.27.
- Institutional support appeared at $0.25, with recovery efforts maintaining DOGE above this level.
- DOGE fluctuated inside a tight $0.25-$0.25 channel throughout the last hour (01:14-02:13), with accumulation patterns and spikes at 01:25 and 02:03.
Technical Analysis
- A record 2.15 billion tokens were exchanged during the midnight dump, indicating substantial institutional activity.
- Support confirmed at $0.25; failure here risks extending the slide to $0.23.
- The key resistance level is $0.27, with potential upward tests around $0.28-$0.30 if purchasing resumes.
- Volume spikes following recovery efforts indicate a probable bottoming of interest.
- Pattern recognition: technicians detect a repeated “1-2 setup” that is consistent with previous rally formations.
What Traders Are Watching
- Whether $0.25 can be a stable support following massive liquidation flows.
- If the rebound takes hold, institutional investors will position themselves around the $0.28-$0.30 resistance level.
- Monitor follow-through volumes in subsequent sessions to see if accumulation or additional distribution predominate.
- ETF delays and persistent regulatory uncertainties have had a broader effect on sentiment.
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