As a seasoned analyst with over two decades of market experience under my belt, I’ve seen more than a few rollercoaster rides in the crypto world. Today, I find myself looking at Dogecoin (DOGE/USD) and feeling a familiar sense of deja vu.
It is too early to talk about a bounce back, according to CoinStats.
DOGE/USD
The price of DOGE has dropped by 2.28% over the last 24 hours.
On an hourly basis, the Dogecoin rate appears bearish and is approaching the potential support level of approximately $0.09861. If purchasers don’t regain control by the close of trading today, a possible breakout could trigger a deeper adjustment within the range around $0.098.
After an incorrect surge past the $0.1025 resistance level, the Dogecoin (DOGE) price has been consistently dropping. If today’s trading session ends close to its lowest point, the downward trend might extend towards the $0.096 region.
The situation is similar on the weekly time frame.
If the current bar falls below its previous level, it could trigger a potential drop towards the anticipated support level of approximately $0.09136 in the upcoming week.
DOGE is trading at $0.09871 at press time.
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2024-09-01 19:52