what to know
DOGE was traded within a narrow $ 0.010 range between $ 0.234 and $ 0.244 during the 24-hour session between 03:00 to 02:00 pm on July 27 to July 28 at 02:00 pm, which spread 4.12% intrad.
Open tokens at $ 0.238 and closed down marginally at $ 0.239 after testing both support and resistance areas several times throughout the day.
The major volume grows at 08:00, 15:00, and 16:00, which indicates frequent purchase pressure, but sellers defend the $ 0.241- $ 0.244 resistance band. DOGE lives in consolidation with speed formation below the upper limit.
News background
• Doge traded with remarkable upsurge at $ 0.010 range at $ 0.235 and rejects near $ 0.244
• Volume rises above a 24-hour average of 291.8m, the peak at 718.4m during the 16:00 breakout attempt
• Confirming the reversal of the emerging resistance and a short-term recession from the final-hour celloff to $ 0.240 to $ 0.238
• Despite late pressure, $ 0.238 support levels held on many retracts, suggest accumulation at lower levels
Price action summary
Dogge printed a modest 0.42% profit a day, which was slightly cured by the earlier decline but failed to install a high high.
$ 0.235- $ 0.238 support area was successfully tested three times, forcing the lower end of the consolidation band.
Bulls attempted to exit during the 16:00 rally, but was rejected at $ 0.241, leaving the price properly to settle down. In the last-hour trading, 0.83% pullback was observed on elevated volumes, which closed at $ 0.239.
technical analysis
• $ 0.234 to $ 0.244 trading range of $ 0.010 (4.12%)
• Major support was confirmed after several volume-supported reversals at $ 0.235 and $ 0.238
• Resistance $ 0.241- $ 0.244 holds the firm on the zone, limits the reverse brakeout attempts
• Trade the highest single-hour in the 718.4m volume session during 16:00 hours
• The last hour shows recession of recession from $ 0.240 to $ 0.238 with volume spikes over 6 m.
• The consolidation structure is intact with creating a possible breakout setup
What are the traders watching
• Can DOGE support $ 0.238 in Early Asia or US Trading
• Brake above $ 0.244 can trigger the upside speed towards $ 0.25+
• $ 0.234 Breakdown under support may invite new pressure from afresh
• Volume confirmation will be important to validate the next directional move.
