Dogecoin (DOGE) Rallies With Over 10% Gains; Will Price Finally Hit $0.1?
26 Outubro 2022 - 4:55PM
NEWSBTC
DOGE’s price shows strength as it bounces from a downtrend range
with high volume, aiming for a rally to $0.1. DOGE faces a major
test to trend higher above $0.1 after the price broke out of its
long-range price movement. DOGE’s price remains strong above the 50
Exponential Moving Average (EMA) as it attempts to rally past a key
area of $0.1. The price of Dogecoin (DOGE) has remained strong
after breaking out of its long-range with good volume as it aims to
capture the region of $0.1. The crypto market has appeared more
stable this week, with Bitcoin (BTC) and Ethereum (ETH)
experiencing significant price movement. This new relief rally in
the crypto market has benefited smaller coins such as DogeCoin
(DOGE), which has rallied from its downtrend movement to a range
high of $0.055 to $0.07 as price attempts to rally higher. (Data
from Binance) Related Reading: Is Bitcoin Rise Above $20k
Sustainable? Here’s What On-Chain Data Says Dogecoin (DOGE) Price
Analysis On The Weekly Chart. Although many altcoins have struggled
to trend in a range market, the price of DOGE has seen more of a
downtrend move as the price of DOGE dropped from a high of $0.7 to
a weekly low of $0.055, seeing more than an 80% decline in its
price. DOGE’s declined from an all-time high of more than $0.7 to a
region of $0.15 before rallying to a high of $0.35; the price of
DOGE faced further rejection to its price to a range low of $0.23
where it formed weak Support to hold sell-offs, but this proved to
be abortive as price saw a constant decline. The price of
DOGE dropped to a weekly low of $0.055 as the price bounced
immediately, forming a price range in an attempt to break out. With
the market looking more promising, we could see the price of DOGE
rally to a high of $0.1 with good volume, where the price could
face resistance to trend higher. Weekly resistance for the price of
DOGE – $0.1. Weekly Support for the price of DOGE – $0.07. Price
Analysis Of DOGE On The Daily (1D) Chart In the daily timeframe,
the price of DOGE remains strong and trades above the key Support
formed at $0.066 after the price broke out of its range-bound
channel with good volume. The price of DOGE needs to hold
above 50 EMA, acting as a strong support for the price of DOGE. The
price of $0.062 corresponds to the value of 50 EMA, acting as
Support for the price to trend higher to a region of $0.1.
The volume for DOGE indicates strong uptrend momentum as buyers
dominate the market. Daily resistance for the DOGE price – $0.1.
Daily Support for the DOGE price – $0.066-$0.062. Related Reading:
Bitcoin Bollinger Band Breakout Starts To Squeeze Shorts | BTCUSD
Analysis October 26, 2022 Featured Image From AMBCrypto, Charts
From Tradingview
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