The cryptocurrency market keeps going up, according to CoinMarketCap.
DOGE/USD
The rate of DOGE has risen by 8.04% over the last 24 hours.
On an hourly chart, Dogecoin’s price appears to have prematurely breached its immediate resistance level at approximately $0.4181. If the daily closing price deviates significantly from this point, traders might capitalize on the situation, potentially triggering a correction towards the $0.40 region.
Focusing on a larger timeframe, it’s crucial to watch for the candles closing near the price point of approximately $0.4230.
If the candle’s top forms either around its midpoint or higher, there’s a likelihood that the price movement will extend towards the $0.43-$0.44 zone in the near future.
From my perspective as an analyst, the current Dogecoin (DOGE) rate at midterm isn’t close to crucial points. In light of this, it would be strategic for traders to keep an eye on the weekly candle’s performance, specifically focusing on the previous candle’s peak. If the week closes above $0.40, there could potentially be a test of the resistance level at $0.48 by month-end.
DOGE is trading at $0.4104 at press time.
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2025-01-17 16:19