There have been new developments in the wallet of the third largest DOGE whale we follow for Dogecoin (DOGE) price movements.
There has been a total of 31.2M DOGE entries in the last 24 hours to the mentioned wallet, which has not had any entries since July 18.
To give a separate tip about this wallet, the probability of seeing a decrease in the exits from the wallet is higher than the probability of seeing a rise when the wallet is entered. Let’s see the recent exit movement from the mentioned wallet on the 1-day DOGE chart.
As you can see, Scalp is a nice wallet for transactions. I also care about the inflows to this wallet because there have been significant outflows before. Of course, there is no rule that this wallet movement will be a definite or immediate rise.
So What Should I Do?
We don’t just depend on the wallet movement to secure the transaction a bit more. We also need to back this up with technical analysis.
Dogecoin (DOGE) Pinpoint Technical Price Analysis
Dogecoin currently continues to watch in a falling trend. A 2-hour candle close above the $0.07505 resistance is required to break the lower. If it does, the Doge will be freed from the risky area.
Intermediate resistance $0.07573
Important resistance at $0.07679 and $0.07704. These prices are the heavily selling area. A 4-hour close above it is sufficient for the continuation of the upwards. Interim support is $0.07462 STOP!
Important support $0.07366
Considering the support and resistances, let’s not open a stop-free trade. Let’s always act according to candle closings.
Continue on support
Support breakout stop!
60538
