Dogecoin (DOGE) has been consolidating for the last three weeks, and this inactivity has led momentum investors to turn to DTX Exchange (DTX). Technical analysis shows that DOGE needs to take out the $0.50 psychological level to begin any move.
Meanwhile, DTX Exchange is nearing the $10 million mega milestone in its sixth presale phase. The DTX token presale has seen an overwhelming response, which is natural because the company’s future growth prospects and scaling abilities are extraordinary. According to experts, DTX Exchange can compete with Dogecoin in a few months after launch.
Dogecoin Consolidates In Ascending Trendline Pattern Investors Await Breakout
On November 12th, Dogecoin made the high of its price swing, reaching the $0.44 level. From there, it has been consolidating in an ascending trendline pattern. DOGE tried to take out these levels on 23rd November and attempted a breakout last Monday. However, both attempts failed as bears took over immediately after the breakout.
The positive point about Dogecoin’s price action is that it trades above the 10- and 20-period moving averages, which signifies DOGE’s confirmed strength. However, for a breakout, it might need more support from bulls. If Dogecoin breaks out and gets a good follow-through, the all-time high could be the next target.
The volume data shows Dogecoin’s market volatility has contracted, highlighting weaker selling. This imbalance increases the chances of a bullish reversal. If DOGE breaks below $0.42, it could trigger more liquidations, pushing the price toward the $0.36 support zone. On the other hand, if DOGE holds above $0.45 and rises past $0.5, buyers might push for a new high.
DTX Exchange Attracts Memecoin Investors With High Growth Visibility
After the recent runup, the 2021 Dogecoin millionaire, also famous in X (Twitter), has shifted his profit from DOGE to DTX Exchange. He believes that DTX Exchange, with its undervalued price of $0.12, can replicate Dogecoin’s gains quickly. DTX Exchange has become one of the top players in the exchange market, providing cutting-edge tools and robust infrastructure.
DTX Exchange offers unmatchable features like diverse trading assets, which help traders create a well-diversified portfolio to benefit from the different markets. DTX Exchange offers 1,000x leverage to increase profitability, so traders can create large positions with smaller funds. However, keep in mind that using leverage requires experience and risk management.
Another advantage for users is the recently launched Phoenix Wallet feature, which allows cryptos to be lent at a very low interest rate. Experts have called this wallet the most secure and highly efficient one.
SolidProof, the best auditing firm, has audited DTX Exchange, validating its future. The presale is the best opportunity for retail investors to purchase DTX coins and participate in the journey of this market disruptor project.
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