DOGECOIN PRICE ANALYSIS & PREDICTION (December 29) – Doge Traps In Consolidation Amid Low Volatility, Potential Break?

2024-12-30 20:01

The past week’s trading has been dicey as Doge failed to initiate a major move due to serious volatility drops across the market. It showed signs of strength in the past hours but remains trapped in consolidation.

Since last week, Dogecoin has stayed well above the $0.3 level following a sharp rejection at $0.26, held as a monthly low. This brought a temporal halt in the correction with no sign of a major recovery.

However, the recent volatility drop has subjected trading to a consolidation mode, indicating indecisiveness in the market. As seen on the daily chart, the leading meme coin is struggling with volatility and has yet to signal its next major move, although it is showing signs of strength on the daily chart.

The consolidation, which led the market into a little-to-no movement since the start of this week might end soon if buying volume increases. While last week’s rejection suggests exhaustion in the correction, a breakdown could bring an extension until it finds a solid ground level.

Nonetheless, it is important to note that the monthly correctional phase is still very much intact on the daily chart. A major move from the current trading level would determine where the price is headed next.

DOGE’s Key Level To Watch

Source: Tradingview

Losing grip above $0.3, the price may roll back to the $0.262 support. A breakdown from there could send the price to a low of $0.22 and $0.18.

Resuming bullish, Doge must retake the immediate $0.365 resistance along with the monthly $0.48 high. A break above this high could sprout a surge to $0.6 before reaching the key $1 level by the end of this bull run.

Key Resistance Levels: $0.365, $0.48, $0.6

Key Support Levels: $0.262, $0.22, $0.18

Spot Price: $0.345 Trend: Bullish Volatility: Low 

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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consolidation volatility past doge major initiate move

Источник: nulltx.com

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