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DOGECOIN PRICE ANALYSIS & PREDICTION (December 29) – Doge Traps In Consolidation Amid Low Volatility, Potential Break?
By Will Izuchukwu
Market Analysis
The past week’s trading has been marked by low volatility as Dogecoin fails to initiate a major move. The asset displayed signs of strength in the recent hours but remains stuck in consolidation. Since last week, Dogecoin has managed to stay above the $0.3 level following a sharp rejection at $0.26, which served as a monthly low. This led to a temporary halt in the correction with no indication of a major recovery. However, the recent volatility drop has resulted in a market consolidation mode, indicating indecisiveness among traders.
As observed on the daily chart, Dogecoin is struggling with low volatility and has yet to signal its next major move, despite showing signs of strength on the same. The consolidation, which led the market into a little-to-no movement since the start of this week might end soon if buying volume increases. While last week’s rejection suggests exhaustion in the correction, a breakdown could bring an extension until it finds solid ground. Nonetheless, it is essential to note that the monthly correctional phase remains intact on the daily chart.
A major move from the current trading level would dictate where the price will head next.
Source: nulltx.com
