Dogecoin Slowly Retests $0.06 As DOGE Is Seen Moving Higher Over The Next Days
03 Setembro 2022 - 3:48AM
NEWSBTC
Dogecoin (DOGE) price looks bullish with the $0.06 support
maintaining its stance and could potentially reverse the market
overnight. DOGE price analysis shows
bullish momentum DOGE price up by 2.55%
Dogecoin unable to hover lower as
observed in the past few hours DOGE/USD pair might revert and
offshoot the $0.0625 key resistance and go higher in the coming
days. The general crypto market isn’t looking good and has been
stuck in the red zone for the past 24 hours as a result of the
increased selling activity. Bitcoin has evidently dipped by 1.87%
while Ethereum has lost by 0.86; and the rest of the crypto market
is going down. Related Reading: Helium (HNT) Deflates 15% After
Proposed Transition To Solana Dogecoin Trading Volume Up 7.66%
According to CoinMarketCap, DOGE price is up by 2.43% or trading at
$0.06196 as of this writing. DOGE is seen to be slightly volatile
as seen in the past 24 hours. In addition, Dogecoin trading volume
has also been up by 7.66% while the total market capitalization is
trading at roughly $8.14 billion, making it the 10th largest crypto
in terms of market cap. DOGE Shows Minimized Selling Pressure The
4-hour chart for DOGE exhibits minimized selling pressure or
activity which shows that the Dogecoin price could potentially
revert and surpass $0.0625. DOGE price is seen to be further
dropping over the past couple of days but sellers lack the
aggressiveness it once had, reaching only some of the lower lows.
Following DOGE’s recent spike, Dogecoin tested the key support at
$0.060 support. DOGE price action has been observed to nosedive and
unable to go below $0.060, which implies the formation of a double
bottom reversal pattern. With that being said, bullish movement
should return to recover some of the losses incurred in the past
week. DOGE price analysis looks bullish as the market shows an
inability to thrust lower after it has tested the support line
spotted at $0.060. With that in mind, DOGE/USD may go higher and
retrace to its previous support spotted at $0.065 which is now set
as the resistance zone. Related Reading: Bitcoin Price Watch: BTC
Facing Renewed Challenge To Keep Price Above $20,000 DOGE total
market cap at $8.27 billion on the daily chart | Source:
TradingView.com Featured image from The Motley Fool, chart from
TradingView.com
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