$DOGE Things have gotten a little awkward again.
Down 4.56% over the past 24 hours, but the daily chart has flashed a signal worth watching:
The 50-day moving average has crossed above the 200-day moving average, marking the first golden cross since last August.
In theory, this is a bullish signal, but the market isn’t showing much strength to back it up right now.
Open interest currently stands at around $1.52 billion, and the long/short ratio is 0.89, indicating that bearish sentiment in the futures market remains relatively strong.
【Bearish outlook】
0.093U is a key short-term level. If it breaks below that, the next support to watch is around the moving averages near 0.088U.
On the upside, 0.095U is the key level to watch.
If DOGE can’t break above 0.095, it will most likely continue trading sideways.
More importantly, ETF inflows currently stand at only around $320,000, so new capital is clearly not strong enough yet.
So the biggest question right now isn’t whether there’s a golden cross, but:
The golden cross is here—when will the money follow?
If it can’t get above 0.095, don’t rush into FOMO just yet.#DOGE
Down 4.56% over the past 24 hours, but the daily chart has flashed a signal worth watching:
The 50-day moving average has crossed above the 200-day moving average, marking the first golden cross since last August.
In theory, this is a bullish signal, but the market isn’t showing much strength to back it up right now.
Open interest currently stands at around $1.52 billion, and the long/short ratio is 0.89, indicating that bearish sentiment in the futures market remains relatively strong.
【Bearish outlook】
0.093U is a key short-term level. If it breaks below that, the next support to watch is around the moving averages near 0.088U.
On the upside, 0.095U is the key level to watch.
If DOGE can’t break above 0.095, it will most likely continue trading sideways.
More importantly, ETF inflows currently stand at only around $320,000, so new capital is clearly not strong enough yet.
So the biggest question right now isn’t whether there’s a golden cross, but:
The golden cross is here—when will the money follow?
If it can’t get above 0.095, don’t rush into FOMO just yet.#DOGE