Dogecoin Holds Steady Near $0.070 Amid Easing Selling Pressure

Dogecoin is holding steady near $0.070 after a 3.5% decline last week, but improving derivatives data and bullish divergences in key momentum indicators suggest selling pressure may be easing.

The DOGE long-to-short ratio rose to its highest level in over a month at 1.25, indicating more traders expect the price to rise. Additionally, the funding rate remains positive at 0.0074%, reflecting stronger demand for bullish exposure.

Momentum indicators, such as the Relative Strength Index and Awesome Oscillator, show bearish pressure beginning to fade, with DOGE forming a lower price low while its momentum indicators registered higher lows. This suggests downside momentum is losing strength.