Home
News
- 1 The Dogelon price prediction is that the current market sentiment is a closely contested one between buyers and sellers.
- 2 The price volatility has decreased significantly, indicating less market activity.
Dogelon Mars price prediction indicates a tough battle between bulls and bears on the daily graph. Earlier, the price momentum favored the bull and climbed peaks, but shifted to the seller’s advantage after mid-March, and has been declining since then, meeting resistance at the trendline.
About Dogelon Mars (ELON Token)
Dogelon Mars is a dog-based crypto token, and its name is the merger of Dogecoin with the entrepreneurial spirit of Elon Musk, suggesting a trajectory of significant growth. As per CoinMarketCap, this meme cryptocurrency has garnered a large online following, boasting over 300,000 X followers and a Telegram audience exceeding 84,000.
Moreover, the ELON token, functioning on the Ethereum and Polygon networks, adheres to the ERC-20 standard. Ethereum’s network security and transaction processing are upheld by validators who must stake a minimum of 32 Ether, to process, store data, and add blocks to the blockchain of Ethereum (Known as P-o-S consensus).
Polygon complements Ethereum by providing a layer-two scaling solution that enhances transaction capacity and efficiency, thus eliminating the common issue of high transaction fees, known as ‘gas wars’.
Weighted Sentiment About Dogelon Mars And Price Volatility (1W)
The weighted sentiment for the price of the ELON token highlights a bearish sentiment, even though it is in the positive zone. The weighted sentiment has peaked earlier, but recent sessions show that it is approaching the deciding zero line.
Moreover, the price volatility shows that the current price is less volatile, in comparison with earlier sessions, as it has declined drastically.
Dogelon Mars Price Prediction Over Daily Time Frame
At the time of writing, the Dogelon Mars price prediction illustrates that the token is trading at $0.00000027399 with an intraday gain of 3.36%, and its monthly performance had been bearish on the chart at -20.73%.
Since the 20-day and 50-day EMAs, the MACD, and the RSI reflect bearishness, the VTHO price could deteriorate and fall more and reach lower levels. Meanwhile, MACD has formed a bearish crossover with histogram at -0.00000000383, MACD line at 0.00000000559, and signal line at 0.00000000942. Likewise, RSI at 48.41 which is taking rejection from 51.34 smoothened line.
However, there is one more possibility – if the price succeeds in taking support and turns around, the ELON price could rise.
Summary
The Dogelon Mars price prediction elaborates the current market sentiment is a closely contested one between buyers and sellers. The momentum initially favored buyers, but since mid-March, sellers have gained the upper hand, causing a downward trend in price.
Despite a positive weighted sentiment, it’s showing signs of moving towards neutrality. The price volatility has decreased significantly, indicating less market activity. Currently, ELON is trading at $0.00000027399 with a slight intraday increase, but the overall monthly trend is bearish with a -20.73 % change.
Technical indicators such as the 20-day and 50-day EMAs, MACD, and RSI suggest a bearish outlook, with the potential for further decline. The MACD indicates a bearish crossover, and the RSI is below the midpoint, rejecting higher values. However, if ELON finds support, there’s a chance for the price to rebound and increase.
Technical Levels
Support Levels:
Resistance Levels:
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
