PRICE DOGECOIN (DOGE) recently suffered a sharp decline in prices, which traders focused on the immediate market response.
Market analysts have created important prices for short positions. Dogecoin has lost more than 40 % of its value during the previous month.
Some market experts expect the fluctuation to rise, but other analysts see the possibility of sustainable progressive prices.
Analysts set short goals for the DOGE price
Dogecoin traders may search for a short location at the main levels set by market analysts.
According to technical analysis, DOGE made a decline, causing some analysts to make signals.
The signal of the TradingView analyst will decline that traders can use this as an opportunity to enter short jobs with a loss of $ 0.217.
Possible profit levels for short trade are: $ 0.179, $ 0.163, and $ 0.144.
In addition, the movement of these goals is determined by technical indicators such as Fibonacci, RSI, mobile, and Ichimoku cloud.
The last sales process has pushed the bottom of many support areas where price movements are closely monitored by merchants.
According to analysts, if Doge maintains the current track, these levels may be levels of profit in short centers.
Dogecoin decreased 40 % in 30 days
However, over the course of last month, Doge Price saw a loss of a sharp value of about 40 %.
Currently, the encrypted currency is traded by about $ 0.20, and it is a retreat from its highest levels.
As the direction is low, the main support areas are under pressure. This consumption may not have ended yet.
Although Dog’s decline recently, it still rises by 90 % on an annual basis. Which means that long -term holders are still in profit.
However, short -term traders monitor the price procedure because the original is unable to maintain its upward direction.
Now, according to analysts, the current price level may become a decisive pivotal point about whether Doge settles or decreases.
The open interest of Dogecoin futures decreased by 67 % in three months
More importantly, a decrease in the prices of Dogecoin has occurred in line with a huge decrease in the open interest in the futures market.
According to Glassnode, the open interest has decreased by 67 % in the past three months, and has now decreased to $ 1.33 billion from $ 4.07 billion registered in December.
The open interest measures the total number of suspended contracts in the derivative markets and is often used as an indicator of market morale.
The decrease in the open interest indicates that traders are less keen on jobs for a dogy, and this can hint to a weaker faith towards the rest of Dog’s prices in the short term.
Such a decrease, along with low trading sizes, is usually associated with the decrease in interest from investors.
Source: https://www.thecoinrepublic.com/2025/03/02/is-dogecoin-price-Heading-lower-AllySts-predict-Key-Vels/