Dogecoin Recovered to $0.0770 Amid Weak Demand Through ETF

Dogecoin (DOGE) traded around $0.0770 on November 5 after two consecutive sessions of growth. The cryptocurrency gained over 2% the previous day, but the price recovery was not accompanied by an increase in open interest in futures. There were also no new net capital inflows through ETFs focused on DOGE since October 14.

In the observed sample, open interest in Dogecoin futures decreased from $1.18 billion on Monday to $1.06 billion on Thursday. This indicator reflects the value of outstanding contracts and helps assess the activity of participants in the derivatives market.

The decrease in open interest amid rising prices may be related to the closing of previously opened positions, including short ones. However, it does not show which participants were reducing positions. The indicator is also influenced by changes in the market value of contracts.

The absence of new net inflows into ETF continues for the third consecutive week. This indicates limited activity in this segment of investment products but does not allow for an assessment of the overall demand for DOGE. Buying and selling of the cryptocurrency continues directly on exchanges regardless of fund flows.

Key Levels on the DOGE Chart

On the four-hour chart, Dogecoin rose above the 50-period exponential moving average (EMA), located around $0.0762. This indicator gives more weight to recent quotes and is used to assess the short-term price direction.

The nearest resistance is around $0.0786. This area is crossed by a descending line connecting the price highs of October 8 and 29. Consolidation above it on the four-hour chart may indicate a weakening of the sequence of lower highs.

The next calculated resistance area is around $0.0806, where the 200-period EMA and a horizontal price level coincide. However, reaching this mark is not guaranteed even if the nearest resistance is overcome.

The Relative Strength Index (RSI) was around 58, and the MACD indicator maintained a small positive value. These indicators are consistent with an improvement in short-term dynamics but do not confirm the formation of a sustainable upward trend.

If the decline resumes, the nearest technical analysis reference remains $0.0762. Below, levels of $0.0723 and $0.0677 stand out. All indicated values are based on historical quotes and may change as new trading data emerges.