Dugkin price expectations .. Does the height of the supply curb up the bullish momentum?

The Dujakin coin continued its rising track by exceeding the $ 0.2000 barrier, supported by the high interest of individual investors, especially in the derivative market.

But the large height of the supply in the profit range raises fears of possible sale pressure that may slow down from the continuation of this upward wave.

Dogkin maintains its gains, but the basic risks exist

Dugkin is currently trading at a level of $ 0.2060 after penetrating the level of $ 0.2000, which is important psychologically and technically, and the data of the “Glass Nod” platform indicates that the profit supplied has risen to about 86 billion DOGE currencies, and this high number means that a large number of investors have a profit margin, which may tempt some to make profits and thus create possible sale pressure.

The profit supply reached its peak in May at 121 billion dougacin, in conjunction with the rise of the price from the bottom of April at $ 0.1302 to the May summit at $ 0.2597, then the currency fell to $ 0.1429 in June before resuming the current rising trend.

The height of the balances on the stock exchanges warns an increase in sales operations

Glass Nod’s data also shows that the balance on trading platforms has increased from 23.2 billion dougacin in mid -June to 23.5 billion currently.

This increase may indicate the readiness of a number of investors for sale, as the balance is usually transferred to the stock exchanges with the aim of trading or filtering.

Technical view … momentum indicators are still positive, but with caution

Technically, the Dogkin price remains higher than the SIA moving average for 200 days (EMA), which is currently located at 0.2027 dollars, and this level may work as decisive support that enables the price to continue to climb in the event of stability over it.

The MFI (MFI) reflects positive morale with the support of the entry of new money, while the RSI Index indicates a moderate bullish momentum at the level of 65, which is a level close to the purchasing saturation area that begins at 70, which means the possibility of a correction if the height continues without stopping.

High interest in traders in the futures market

Data indicates an Open Interest for Dogkin futures to 2.67 billion dollars, compared to $ 1.64 billion in its lowest level in June, and this reflects investor confidence in the continued emerging trend in the short term as open contracts indicate the number of non -closed contracts, which means a greater commitment to traders.