Dogecoin Continues to Rise, But There Are Risks

Significant Rise in Dogecoin

Dogecoin has shown an increase of 6% in recent days, supported by the strong performance of Ethereum, surpassing critical resistance levels. Institutional trading volumes have emerged as one of the main factors behind this rise.

Encountered Barrier: Structural Resistance

Despite the rise, Dogecoin faces significant structural resistances. In particular, large moving averages (EMAs) pose a serious obstacle. This situation necessitates caution among investors.

User Activity and Network Flow

Increased user activity is positive for Dogecoin. However, mixed network flows indicate a possible accumulation phase. It is essential for investors to shape their strategies considering this data.