While some altcoins posted losses today, Dogecoin remains bullish amidst the latest reduction across the crypto space. The price is still up by 1% as it looks poise to tap more gains.
Earlier this month, Dogecoin’s price exploded briefly above the $0.1 level following a fundamental announcement and sentiments surrounding the leading meme coin that day. The price saw a rejection there and rolled down the following day.
It corrected lower and bounced back in the past week. The price increased steadily by the day until it retraced a little today due to rejection. Notwithstanding, the bulls are still in control of the trend.
But if we look at the price actions on the lower time frame, we can see that the cryptocurrency has drawn back a bit, looking for a solid support level to hold pressure. As a result of this, the price now trades around $0.0913.
Although DOGE’s volatility has been moderate since it started recovery. Let’s consider increasing volatility for the next couple of days, we can expect the price to keep rising until it reaches an exhaustion point.
If the bearish actions continue to hit the market, it may shed some losses as volatility decreases. But right now, the positive actions look intact as more highs could still come into play.
DOGE’s Key Level To Watch
There is not much room for the bears right now despite the latest price drops. In case of more cuts, the levels to watch as support lies at $0.0854, $0.079 and $0.0727 concurrently.
For more bullish actions, the resistance levels to keep in mind are $ 0.1 and $0.105 once it manages to climb above the holding $0.092 level. The next important resistance to pay attention to is $0.112 and $0.12.
Key Resistance Levels: $0.1, $0.105, $0.112
Key Support Levels: $0.0854, $0.079, $0.0727
- Spot Price: $0.091
- Trend: Bullish
- Volatility: Moderate
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.