- The price of DOGE continues to show strength as the price holds above the key $0.08 region as the bulls aim to move higher.
- DOGE’s price continues to look bearish given the current market conditions as most traders and investors remain cautious.
- DOGE price is recovering from a low of $0.07 on the daily timeframe as the price moves with eyes set on retaking the price above the 50 Exponential Moving Average (EMA).
Dogecoin (DOGE) continues to show better price action than it has been lately Bitcoin (BTC)as the price reclaims the $0.08 support and aims for another rally towards a $0.1 region if the crypto market remains calm ahead of a monthly close. Despite Dogecoin (DOGE) bullishness, the price is still trading below the key area of interest that would draw the attention of many buyers. The domino effect of the FTX saga and other big investors has stalled the market as the market has yet to make a big move, leading to a lot of anxiety as to where the market might be headed. (Binance data)
Dogecoin (DOGE) price analysis on the weekly chart
Despite the uncertainty and turmoil that has affected Dogecoin (DOGE) price and the crypto market at large, many altcoins are struggling to survive and trying to stay afloat as altcoin prices continue to trend lower.
DOGE’s price fell from a $0.15 region to a $0.7 region as DOGE lost this key support. DOGE price failed to sustain above $0.1, causing the price to retest lower price points.
DOGE’s price continues to hold above $0.08-$0.07 indicating a good sign for the DOGE army on the weekly chart and other timeframes. If the price of DOGE loses this area of interest, it would mean that the price goes up and DOGE prices are controlled.
weekly Resistance for the price of DOGE – $0.1.
Weekly support for DOGE price – $0.08-$0.07.
Price analysis of DOGE on the daily chart (1D).
Daily DOGE price chart | Source: DOGEUSDT On Tradingview.com
DOGE’s price remains considerably strong on the intraday as the price trades above $0.08 after DOGE saw its price drop from $0.15 to $0.07 as the market persists in its state of uncertainty.
DOGE’s price continues to struggle as the price aims for another bounce from this region. DOGE price needs to be reclaimed and traded above $0.1 for a short-term bounce of recovery. The $0.1 dem Fibonacciretracement level of 38.2% will strongly resist DOGE price.
DOGE prices are trading below the 50 EMA at $0.08, acting as resistance for a DOGE uptrend. The price of $0.012 on the daily timeframe for DOGE needs to be reclaimed for the bulls to feel safe.
Daily resistance for DOGE price – $0.11.
Daily support for DOGE price – $0.08-$0.07.
Featured image by zipmex, charts by Tradingview
Source: Crypto News Deutsch