As a seasoned analyst with over a decade of experience in the crypto market, I’ve seen my fair share of bull and bear markets. Based on my observations and the current trends, I believe that bulls are currently holding the upper hand, at least for the short term.
Bulls are more powerful than bears at the beginning of the weekend, according to CoinMarketCap.
DOGE/USD
DOGE has gained a lot of value today, rocketing by 6.05%.
In the hourly chart’s perspective, the Dogecoin price has rebounded from its nearby support mark at $0.1253. Should the daily closing price deviate significantly from this point, the uptrend could potentially carry on, pushing the price towards the $0.13 region by the following day.
Looking at a larger time scale, it’s important to note the closing price of candles in relation to the $0.1292 mark.
Should an event occur close by without a prolonged fuse, there could be sufficient energy build-up for an explosive rise towards the $0.1350 mark.
Looking ahead from the perspective of the midterm, bulls aim to take control of the market. Should the weekly bar finish near its current level, investors could anticipate further gains toward the $0.14 price point in the upcoming week.
DOGE is trading at $0.1271 at press time.
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2024-07-20 20:13