Dogecoin retest support $0.1; Here Is why Doge Army Must Defend This Region
08 Novembro 2022 - 10:57AM
NEWSBTC
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).
Previous weeks saw the price of Dogecoin (DOGE) rally with so much
bullish sentiment creating more euphoria for a bull run as the
price of Dogecoin (DOGE) rallied with over 150% gain in less than 7
days as many anticipated the rally to a region of $0.2. The
sentiment surrounding the crypto market is not encouraging, as the
week has been filled with less bullish sentiment. The crypto market
has seen some relief across all assets, but the new week holds
mixed feelings. (Data from Binance) Related Reading: VeChain (VET)
Climbs 10% In Last 7 Days – What’s Going On? Dogecoin (DOGE) Price
Analysis On The Weekly Chart The previous week saw many altcoins
produced over 200% gains over the past 7 days of breaking out of
their range-bound movement, as many believe more hope is returning
to the crypto 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. After having a weekly close below $0.13, the price of DOGE
has struggled to replicate the bullish sentiment it had, rallying
to a weekly high of $0.15 after a long period with expectations
high for a rally back to its weekly high. The price of DOGE
needs to hold above $0.1 for the price to have a chance of a rally
to the region of $0.15 and possibly to a high of $0.2; if the price
of DOGE fails to hold $0.1, we could see price retesting weekly
support of $0.075. Weekly resistance for the price of DOGE –
$0.15. Weekly support for the price of DOGE – $1-$0.075. Price
Analysis Of DOGE On The Daily (1D) Chart In the daily timeframe,
the price of DOGE continues to look strong as it holds above its
critical support at $0.1 after facing rejection as the price
rallied to a region of $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. Related Reading: Chainlink
(LINK) Rejected At $9.20 But Picks Up Steam – Levels To Watch
Featured Image From Insidebitcoin, Charts From Tradingview
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