Dogecoin Must Do This One Thing For Price To Hit $0.1, Here Is Why?
13 October 2022 - 7:00AM
NEWSBTC
DOGE price breaks down into a ranging channel as price failed to
break above resistance, holding price from trending higher.
DOGE trades below 50 and 200-day Exponential Moving Average as the
price struggles to regain bullish signs as the price continues
ranging in a channel. The price of DOGE needs to break out of
the channel with good volume to rally high to a region of
$0.1. Dogecoin (DOGE) prices continue to struggle as they
range in a channel to rekindle their bullish movement against
tether (USDT). Dogecoin (DOGE) and other crypto assets experienced
a relief bounce in recent weeks, which saw the crypto market cap
look good for cryptocurrencies across the industry, with many
producing double-digit gains. DOGE showed some relief bounces but
was quickly rejected into a range price movement. (Data from
Binance) Related Reading: This Expert Suggests How Ripple
Price Will Trend Amid Expansion In Europe Dogecoin (DOGE) Price
Analysis On The Weekly Chart Despite having had a difficult few
months, with the price falling to a low of $0.05, a 70% drop from
an all-time high of $0.6, and many glamouring for $1. Due to market
conditions, this incredible price movement was cut short. The
crypto market has been in a bear market for more than six months,
causing many crypto assets to retest their weekly lows while others
cling to key support. After rallying to a high of $0.08, the price
of DOGE fell to a weekly low of $O.05, where the price held strong
after forming support, and this region appeared to be a demand zone
for prices. DOGE price bounced off this region of $0.05 as the
price rallied to a weekly high of $0.66 as the price faced
resistance to breaking higher as the price range in a channel.
DOGE’s price has since remained within its range as it prepares to
break out of it in order to retest the resistance at $0.08. Weekly
resistance for the price of DOGE – $0.08. Weekly support for the
price of DOGE – $0.05. Price Analysis Of DOGE On The Daily (1D)
Chart On a daily basis, the price of DOGE remains below the 50-day
and 200-day Exponential Moving Averages (EMA), which is not
conducive to an upward price trend in the short term. The prices of
$0.08 and $0.062 correspond to the prices at the 50 and 200 EMAs,
which act as DOGE resistance. For the price of DOGE to resume its
bullish trend, it must break above $0.08 with good volume closing
above it. The price of DOGE remains range-bound as it needs to
break out to the upside to resume its bullish movement; a break to
the downside would send the price of DOGE to a daily low of $0.05
and likely lower. Daily resistance for the DOGE price – $0.08.
Daily support for the DOGE price – $0.05. Related Reading: Why
These Experts Believe The Ethereum Price Could Soar to $5,000
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