As a seasoned researcher who has navigated countless market fluctuations, I find myself intrigued by the dynamics of Dogecoin (DOGE) as it presents an interesting case study. The weekend is often a time for unpredictable moves in the crypto world, and it seems buyers are setting the pace this time around.
Buyers are controlling the initiative at the beginning of the weekend, according to CoinStats.
DOGE/USD
The price of DOGE has risen by 1.12% since yesterday.
On the one-hour timeframe, the price of DOGE has been climbing following a check at the nearby support of around 0.1033 USD. Should this uptrend persist, there’s potential for a breach of the resistance at approximately 0.1055 USD in the near future.
As a crypto investor, I’ve noticed that the daily price chart of the meme coin maintains a bearish trend as long as it stays below the significant level at $0.1080. Yet, if we manage to break through this barrier, the momentum could potentially propel us towards the $0.11 range and possibly beyond.
Looking at the midpoint analysis, it appears that the price of DOGE temporarily surged beyond its supportive level of $0.09136, which might suggest a false breakout. However, at this stage, buyers haven’t gathered sufficient power to take control just yet.
It seems more probable that the price will cluster around $0.10 to $0.1150 over the next few days.
DOGE is trading at $0.1045 at press time.
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2024-08-10 21:07