As a seasoned researcher with years of experience in the volatile world of cryptocurrencies, I find myself analyzing the current state of Dogecoin (DOGE) with a mix of intrigue and cautious optimism. With my finger on the pulse of the market, I’ve learned to read between the lines of charts and trends.
Buyers are not ready yet to seize the initiative, according to CoinStats.
DOGE/USD
The price of DOGE has declined by 0.85% over the last day.
Looking at the hourly chart, the price of DOGE has started to climb following a misleading drop below the $0.1018 support level. If this upward trend persists and the daily candle finishes near the resistance level, there’s a possibility we might see a retest of the $0.11 region in the near future.
Looking at a broader perspective, the meme coin’s price hasn’t yet reached significant resistance points. Since neither side seems to have control, it’s expected that the coin will continue to move sideways within the range of about $0.10 to $0.11.
When considering the midterm perspective, it would be beneficial to concentrate on whether the weekly candle closes below its preceding candle’s low.
If the breakout of the $0.10 mark happens, the fall may continue to the $0.09 mark and below.
DOGE is trading at $0.1035 at press time.
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2024-10-03 19:06