$DOGE has closed lower on each of the last 5 weekly candles, with each close lower than the one before. There’s just one day left for this week’s 6th candle to take shape.
Since late September, it has steadily fallen from 0.0969 to last week’s close of 0.0755, and is now hovering around 0.0718. $BNB is struggling too: it closed above the key 700 level for one day this week, then lost it the next.
▪️ If DOGE closes the week at its current price, it’ll be its lowest weekly close since mid-August
▪️ BNB at 697 would mark its lowest weekly close since late August if it closes at the current price
▪️ DOGE futures open interest fell from around $200 million to $178 million in just a few days
What stands out to me more is the decline in open interest: as the price grinds lower, leverage is being unwound. It looks more like a slow loss of momentum than a sudden sell-off.
Do you think DOGE can close this weekly candle back above 0.0755?
#DOGE #周线 #BNB
Since late September, it has steadily fallen from 0.0969 to last week’s close of 0.0755, and is now hovering around 0.0718. $BNB is struggling too: it closed above the key 700 level for one day this week, then lost it the next.
▪️ If DOGE closes the week at its current price, it’ll be its lowest weekly close since mid-August
▪️ BNB at 697 would mark its lowest weekly close since late August if it closes at the current price
▪️ DOGE futures open interest fell from around $200 million to $178 million in just a few days
What stands out to me more is the decline in open interest: as the price grinds lower, leverage is being unwound. It looks more like a slow loss of momentum than a sudden sell-off.
Do you think DOGE can close this weekly candle back above 0.0755?
#DOGE #周线 #BNB