Dogecoin Recovers 5.45% Amid Increased Institutional Accumulation
The cryptocurrency market faces challenges due to geopolitical tensions and trade disputes. However, Dogecoin shows resilience, recovering from a dip to $0.220 and establishing support at $0.222 with increased trading volume.
Technical Analysis Highlights
- DOGE recovered from $0.220 on May 27th to a high of $0.232, a range of $0.012 (5.45%).
- Strong support was established at $0.222 with nearly 393M in volume, almost double the average.
- Price maintained above $0.227 since 07:00, indicating consistent buying pressure.
- The 13:00 candle showed strength with 558M volume, suggesting institutional accumulation.
- DOGE surged from $0.228 to $0.232, peaking at $0.232175 by 13:19.
- Notable volume spikes occurred at 13:08-13:10 (75M) and 13:13 (21M), indicating strong institutional interest.
- A minor pullback began at 13:33, retracing to $0.228 before recovering to $0.229.
- Consolidation above the $0.228 support indicates an intact uptrend, with $0.232 as the next resistance level.