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Dogecoin Rally To $0.35 Could Trigger Massive Short Squeeze Newsbtc 5 दिन पहले

Dogecoin Rally To $0.35 Could Trigger Massive Short Squeeze 🚀

Dogecoin Ali Martinez

Dogecoin (DOGE) might be on the verge of a crucial price move that could lead to a significant short squeeze, according to analyst Ali Martinez. He highlighted on January 27 that short positions worth $766.45 million might be liquidated if DOGE climbs to $0.35, putting bearish traders in a dire position.

Data from Coinglass shows substantial short positions clustered between $0.339755 and $0.34368, totaling around $2.26 billion in potential forced liquidations. Such a scenario could trigger rapid price swings if DOGE surpasses this tight range.

Coinglass emphasizes the importance of identifying high liquidity areas as potential "magnet zones" for sizable trades. Martinez's DOGE analysis aligns with broader technical signals, suggesting DOGE may be nearing a pivotal moment.

Since December 8, when Dogecoin briefly hit $0.4834, its price has trended downward. Although DOGE moved above a descending trendline on January 15, 2025, it was pulled back amidst market volatility. Currently, the line, now around $0.335 to $0.34, serves as a strong resistance.

If DOGE manages to break this range, short traders might need to cover quickly, potentially accelerating an upward movement. DOGE remains above a crucial Fibonacci retracement level near $0.313, providing support during recent sell-offs, with further support expected at $0.212.

On the upside, a sustained rise above the 0.5 retracement at $0.394 could bolster bullish sentiment, with resistance anticipated around the $0.476 to $0.592 range if DOGE can maintain momentum.

स्रोत: www.newsbtc.com ↗

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