Dogecoin
Dogecoin holds near $0.070 as derivatives data signal easing pressure
Dogecoin stabilised around $0.070 following a weekly decline, with bullish divergences in momentum indicators and an elevated long-to-short ratio suggesting selling pressure may be fading.
Dogecoin held steady near $0.070 on Tuesday, down 3.5% over the preceding week. Despite the near-term bearish structure—with the price remaining below major moving averages at $0.075, $0.083, and $0.100—technical signals point to weakening downside momentum.
Derivatives data reflected growing bullish sentiment among traders. The long-to-short ratio climbed to 1.25, its highest in over a month, indicating that long positions outnumber shorts. The funding rate, which turned positive on July 24, stood at 0.0074%, reflecting stronger demand for bullish exposure.
Momentum indicators reinforced the optimistic signal. Dogecoin formed a lower price low on August 1 while the daily Relative Strength Index registered a higher low—a bullish divergence suggesting selling momentum is weakening. The Awesome Oscillator showed rising lows despite continued downward price movement, further indicating that downside strength is fading.
Immediate support sits at $0.070, with the yearly low of $0.067 as the next key level. A close below $0.067 could lead to further losses toward $0.065. On the upside, the 50-day EMA at $0.075 represents the first resistance hurdle, followed by $0.080, the 100-day EMA at $0.083, and horizontal resistance at $0.088. A sustained recovery would require reclaiming the 200-day EMA at $0.100 and breaking through the major barrier at $0.102 to ease the prevailing bearish outlook.
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