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The DOGECOIN (DOGE) holders are placed on alert by Crypto analyst Ali Martinez, who shared a chart on Monday highlighting a remarkable technical setup. According to Martinez, the market value for the realization price (MVRV) ratio for Dogi formed its own 200-day moving average (MA)-formed “Death Cross” with an event, which first with a decline in the major value Was correlated.
Dogcoin mvrv death cross warning
Martinez’s chart, sour from the century, plots three major data points: DOGE/USD Price (Black Line), DOGE’s MVRV ratio (orange line) and 200-day MVRV ratio of DOGE MA (Red Line). He Comment: “Dogi saw only the MVRV ratio and a cross of a death between its 200-day MA. This happened in the last two times, prices fell 26% and 44%. ,
The new printed “Death Cross” is where the Orange MVRV ratio line falls below the red 200-day MA line. Historically, the price of analyzer notes, Dogge experienced two significant reforms after this crossover: the beginning of September and the end of October 2023 falls 26% and a decline of 44% from mid -June to the end of September 2024 to the end of September 2024.
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Both recession appear in shaded areas on the chart, accordingly labeled. After each of these, the price of dogcoin eventually overturned, but only after reaching a low price level. Looking closely on the chart, the price of dogcoin is shown to be trading around $ 0.268. The MVRV ratio (orange line) climbed near 91%, while the 200-day MVRV ratio MA (red line) is about 78.36%.
The MVRV ratio compares the current market value of DogeCoin to its actual value (the collected cost base of DOGE last time-chain). A MVRV of 91% indicates that the market participants, on average, may be quite relative relative to their procurement price – if the ratio remains above 1. Although the accurate interpretation depends on how an analyst applies to the MVRV scale, a high MVRV ratio means that a high MVRV ratio means an increase in unrealistic gains between holders.
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The 200-day MVRV MA is a simple moving average of the MVRV ratio in the last 200 days. This provides a long -term base line of how far the current MVRV of Dogicine is above or below its historical trend. A “Death Cross” in this context appears when the short-term MVRV ratio (orange line) 200-day MVRV ratio moves under the MA (red line), often indicates a possible change in emotion or adjacent sales pressure.
In particular, the price of dogcoin has been showing some weakness in the last few weeks. Since 8 December at $ 0.4834, Dogge is consistently low -high and lower climbing, writing a highly recession chart setup. Martinez shared the chart below and Stated: “Dogi lives in a downtrend, which creates lower climb and lower height. The speed requires a breakout above the major resistance to move the speed! ,
To get this, Dogge will need to be broken above $ 0.44. However, Dogi Bulls can expect significant resistance to $ 0.31 (0.382 Fibonacci Retration Level), $ 0.342 (0.5 FIB) and $ 0.375 (0.618 fib). At the press time, Dogi traded at $ 0.26.
Image made with Dall.E, chart from traudingview.com
