5-Day RSI Crossover Confirms $0.30 Breakout Trajectory
The post 5-Day RSI Crossover Confirms $0.30 Breakout Trajectory appeared on BitcoinEthereumNews.com.
Dogecoin price stalls below $0.25 amid profit-taking and Bitcoin volatility, but DOGE RSI crossover on May 7 suggests bulls could still target $0.30 despite a 5.8% short-term correction on Sunday May 11. Dogecoin (DOGE) Stalls Below $0.25 as Investors Await Bitcoin’s Directional Signal Dogecoin price entered a 5.7% pullback on Sunday, May 11, after a three-day streak of double-digit gains. The correction reflects broader market consolidation as investors take profits and weigh macroeconomic cues. DOGE price had led the week’s rally, but sentiment cooled below $0.25 amid dampening risk appetite. Dogecoin price action | DOGEUSD Trump’s confirmation of successful trade talks with China helped push Bitcoin above $104,000, but gee-political unrest, especially from India-Pakistan military tensions escalating in the last 48 hours, have dampened the memecoin momentum. This triggered profit-taking across assets seen as volatile and responsive to market panic signals. Market data from Coingecko further validates the pause in momentum. As of press time on Monday, DOGE is trading at $0.2341, down 5.8%, matching Bitcoin’s -5.8% correction in BTC/DOGE terms (now 0.052240 BTC). The 24-hour DOGE trading volume also declined from $4.5 billion to $3.5 billion, reflecting active capital rotation out of speculative assets. Investors appear to be adopting a cautious stance, awaiting signals from institutional Bitcoin flows before reallocating capital toward riskier altcoins. Derivatives: $20M Liquidated as Dogecoin Open Interest Drops by 7.3% The recent correction in DOGE is supported by a decisive shift in derivatives sentiment. Total DOGE open interest dropped 7.29% to $2.80 billion, while daily trading volume contracted by 19.55% to $7.74 billion. Options volume cratered 21.72% even as options open interest jumped 49.49%, suggesting a build-up of directional bets despite lower intraday activity. Dogecoin Derivatives Market Analysis | Source: Coinglass Liquidation data shows $20.15 million in total DOGE long positions were wiped out over…
Filed under: News - @ May 12, 2025 1:12 am