Dogecoin (Doge) Holders are on thorns. Crypto analyst Ali Martinez, who shared a graph that emphasizes a significant technical installation on Monday, alarmed breast Coin investors. According to Martinez, Doge created a ‘Death Cross’.
‘Death Cross’ warning for the original breast coin!
Experienced analyst Ali Martinez attracts attention to a graph received from the Analytical Company Santimement. The analyst shows three important data points in this graph: the Dogge/USD price (black line), the MVRV ratio of Doge (orange line) and the 200 -day MVRV ratio of Dogge (Red Line). In this context, the analyst said, “DEGE, MVRV ratio and 200 -day MA value were formed a ‘Death Cross’. In the last two times of this, prices fell 26 %and 44 %. ” says.
Dogecoin MVRV ‘Death Cross’. Source: Ali MartinezThe newly formed Death Cross occurred where the orange MVRV ratio line fell below the red 200 -day MA line. The analyst historically says that the price of the breast coin experienced two important corrections after the same model: a 26 %decrease between the beginning of September and the end of October 2023 and a decrease of 44 %from mid -June to the end of September 2024. Both decreases appear in the shade areas in the graph and are labeled accordingly. After each of these decreases, the price of Dogecoin finally recovered, but only after significantly reached significant price levels.
This level is critical to change my momentum!
The MVRV ratio compares the existing market value of Dogecoin with the realization of the realization. A 91 MVRV indicates that market participants may significantly increase depending on the average purchase prices. However, for this, it should remain above 1. The exact result depends on how the analyst applies the MVRV scale, but a higher MVRV ratio means that unrelated gains are often increased.
Especially the price of Dogecoin has been a little weak for the last few weeks. Dge has seen lower peaks and lower bottom levels since the highest $ 0.4834 dollars on 8 December. In this respect, Ali Martinez shared the graph below and said:
Dogge continues to remain in the trend of decline and creates lower bottoms and lower hills. To change my momentum, there is a need to break on the key resistance!
Dogecoin price analysis, 4 -hour graphics. Source: Ali MartinezIn order for this to happen, Doge needs to rise above $ 0.44. However, a significant resistance awaits the Dogge bulls at $ 0.31, $ 0.342 and $ 0.375. During the article, the breast coin was traded for $ 0.26.
