The crypto market starts the week under selling pressure, with most crypto assets showing declines or minor gains.
Dogecoin Drop and Liquidations
According to CoinGlass data, liquidations in the crypto market over the last 24 hours totalled $371 million, primarily driven by long position liquidations. Dogecoin has dropped to about $0.21, down 2.97% over the last 24 hours. Total liquidations for Dogecoin were $8.11 million, with $6.98 million attributed to long positions.
September Volatility Expectations
Traders are awaiting a significant market move, as September has historically been seen as a weaker month for cryptocurrencies. The outlook remains uncertain, but key macroeconomic data could influence Federal Reserve policy.
Technical Analysis and Support for Dogecoin
Analysts are watching key support and resistance levels for Dogecoin. The $0.208 support level, defended multiple times, is crucial for potential future movements. The $0.225 level also remains an immediate barrier for short-term targets.
The crypto market remains under pressure, with future movements dependent on macroeconomic conditions and key support analysis.
