DOGE liquidation chart issues alert! $0.208 becomes a key battleground for bulls and bears.

The price of DOGE (狗狗幣) has recently experienced significant fluctuations, falling over 3% in the last 24 hours and reaching a weekly decline of up to 10%. Amidst substantial changes in trading volume and open contracts, the latest liquidation chart data indicates that the $0.208 area is becoming the focal point of the Bull vs Bear Battle in the market. This article will combine the latest data from CoinGlass and TheKingfisher to provide an in-depth analysis of key liquidation zones, technical patterns, and potential market trends for DOGE.

The liquidation chart reveals that $0.208 is a short liquidation cluster

According to TheKingfisher report, the largest short liquidation cluster for DOGE is concentrated around $0.208. If the price reaches this area, it is likely to trigger a large-scale short squeeze, causing significant price fluctuations. Long liquidations are more dispersed, indicating that downward pressure is temporarily limited. Smart investors are closely monitoring this key level, waiting for the right opportunity to position themselves.

Leverage positions decrease, volume and open contracts surge

In the past 24 hours, the DOGE volume reached $5.19 billion, growing by 54%; the open contracts reached $3.09 billion. The options trading volume also rose by 30%, to $17 million. The futures open contracts decreased from 19.7 billion DOGE to 15.36 billion DOGE, reflecting a significant reduction in leveraged positions. This change indicates that the market's risk appetite is adjusting, and prices may further approach the liquidation cluster area.

Technical patterns indicate potential reversal, $1.40 may be a growth line target

Trader Tardigrade pointed out that the DOGE weekly chart shows an ascending expanding wedge, with historical trends having soared from $0.22 to $0.48. The target price for the top of this wedge is set at $1.40. In the short term, the 1-hour chart has formed an inverted head and shoulders pattern, with the neckline at $0.210. If there is a breakout with volume, the price is expected to rebound to the range of $0.214-$0.218.

Short-term Strategy: $0.208 has become a recent focus

The comprehensive liquidation chart and technical analysis indicate that the $0.208 area has become a short-term target for both bulls and bears. If the DOGE price touches and effectively breaks through this area, it may trigger a new round of intense fluctuation. Investors should closely monitor the liquidation clusters and changes in volume, adjusting their operational strategies flexibly.

Conclusion

The DOGE liquidation chart highlights $0.208 as a key area for recent Bull vs Bear Battle. As leveraged positions decrease and technical patterns strengthen, this price level may become a barometer for short-term market trends. Investors are advised to continuously monitor the liquidation chart and technical indicators to grasp the turning points between bulls and bears.