- DOGE’s price needs to stay above $0.1 for the price to have a chance to rally high to a region of $0.15.
- DOGE’s price continues to trend above key support of $0.1 as the hopes of rallying higher continue to dwindle.
- DOGE’s price remains strong, holding key support on the daily timeframes as the price trades above the 50 and 200 Exponential Moving Averages (EMA).
Dogecoin’s (DOGE), price rallied in previous weeks with bullish sentiment, creating more optimism for a bull-run as Dogecoin gained over 150% in 7 days. As many expected the rally to $0.22, the DOGE price rose by almost 15%. As the market has seen less bullish sentiment, the sentiment isn’t encouraging. Although the crypto market saw some improvement across all assets this week, there are mixed feelings about the coming week. Data from Binance
Dogecoin Price Analysis on the Weekly Chart
Many altcoins saw a rise of over 2000% in the last week, after breaking free of the range bound movement. This is a sign that there’s more hope for the cryptocurrency space.
The new week hasn’t kicked in like the last as most altcoins have begun to look shaky, dropping off from their weekly highs, including the price of Ethereum (ETH) and Bitcoin (BTC) suffering a minor price retracement back to a region of $1,540 and $19,600 respectively with the price of DOGE finding itself in a somewhat similar position after the price was rejected from the region of $0.15 after rallying from its weekly low of $0.05.
DOGE’s weekly close was below $0.13. The price has not been able to match the bullish sentiment. DOGE rallied to $0.15, after long periods of high expectations for a return to the weekly high.
For DOGE to be able to rise to $0.15, and perhaps $0.2, the price must hold at least $0.1. If DOGE falls to $0.1, then we may see DOGE price testing weekly support of $0.075.
Weekly resistance for the price of DOGE – $0.15.
Weekly support for the price of DOGE – $1-$0.075.
Doge Price Analysis On A Daily (1D) Chart
DOGE’s daily price remains steady at $0.1 after it was rejected and rallied back to $0.15.
The price of DOGE trades at $0.1 after rejection from a daily high of $0.15, suffering a minor setback in the price of DOGE to trend higher; the price trades above the 50 and 200 EMA, which indicates a good relief sign for DOGE’s price is possible if the price of DOGE rallies away key support zone that can be broken giving room for bears to take over the market.
Daily resistance for the DOGE price – $0.15.
Daily support for the DOGE price – $0.1.
The Featured Image is from Insidebitcoin. Charts are from Tradingview