Dogecoin holds $0.070 as bullish divergence signals easing selling pressure

Key takeaways

• Dogecoin is trading near $0.070 after declining 3.5% last week.
• DOGE’s long-to-short ratio rose to a one-month high of 1.25, signaling bullish positioning.
• Funding rates remain positive at 0.0074%, indicating stronger demand for long positions.

Dogecoin (DOGE) is holding steady near $0.070 at the time of writing on Tuesday after falling 3.5% last week.

Although the broader technical trend remains bearish, improving derivatives data and bullish divergences across key momentum indicators suggest that selling pressure may be easing. This setup could support a short-term recovery if buyers defend the current support zone.

Derivatives data supports a bullish DOGE outlook

Dogecoin derivatives traders are showing signs of growing optimism. The DOGE long-to-short ratio climbed to 1.25 on Tuesday, its highest level in more than a month, according to CoinGlass. 

A reading above 1 indicates that long positions outnumber sho...