Dogecoin Shows Bullish Bias As $0.12 Support Holds; Will $0.15 Be Breached?

  •  DOGE’s price fails to rally high as the price continues to stall in its price movement despite the market looking green across boards. 
  •  DOGE’s price continues to trend above key support as the price tries to build more strength to overcome this area of resistance that has held the price from rallying. 
  • DOGE’s price remains strong on the daily timeframes as the price trades below the 50 and 200 Exponential Moving Averages (EMA).

Dogecoin price (DOGE) has shown some positive price action. The price has held above its support zones and is likely to rise. All assets have seen some relief, including the crypto market. Bitcoin (BTC), however, is showing remarkable traction. It rallied and has been pulling down the market. Dogecoin’s (DOGE), has been relatively quiet in recent days due to slow buy orders. This is because the price faces resistance from breaking higher. Data from Binance

Dogecoin (DOGE), Price Analysis on The Weekly Chart

Altcoins continued to see over 2000% growth in recent weeks, despite breaking away from their range-bound movements. Many believe that more hope is now settling in crypto. 

The week ahead has been a little uncertain. However, some altcoins are starting to look better. BAND rose over 100% in 24 hours. It shows the volume and price movement for buy orders. As the DOGE price has remained stable, it is attempting to rally with little volatility.

After falling from $0.15 to a low of $0.055, DOGE is struggling recently to make a rally that left many feeling happy. 

DOGE traded at a low price of $0.05 in the weekly chart. However, the price soon bounced off this area and reached $0.077. Price trades within a range until it breaks out with strong volume. 

Weekly resistance for the price of DOGE – $0.15.

Weekly support for the price of DOGE – $0.12.

Doge Price Analysis On A Daily (1D) Chart

Daily Doge Price Chart Source: DOGEUSDT on| Source: DOGEUSDT On

DOGE’s price continues to rise as it breaks out of the long-term price trend to $0.15. DOGE then retakes the $0.12 support before seeing resistance. After a 7 day period of gains exceeding 150%, DOGE is now trading at a strong price. 

The price of DOGE trades at $0.13 above the 50 and 200 EMA, which indicates a good relief sign for DOGE’s price on the daily timeframe could be imminent after facing rejection to trend higher. 

Daily resistance for the DOGE price – $0.15.

Daily support for the DOGE price – $0.0112.

Featured Image from zipmex. Charts From Tradingview

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