As a seasoned crypto investor with a few years under my belt, I’ve learned to read between the lines when it comes to market trends and price movements. Based on this analysis, I see potential in Dogecoin (DOGE) despite its recent 0.52% dip over the last 24 hours.
Some cryptocurrencies have come back to the green zone, according to CoinMarketCap.
DOGE/USD
The price of DOGE has fallen by 0.52% over the last 24 hours.
As a crypto investor, I’ve noticed that despite today’s dip, Dogecoin’s hourly chart exhibits a bullish trend. It’s crucial for us to keep an eye on the upcoming resistance level at $0.1238. If we manage to close the daily bar above this mark, it could be a sign of further growth towards $0.1270.
From a broader perspective, the price has yet to reach significant resistance levels. But should the upward trend persist towards $0.1292, the accumulated buying pressure could potentially trigger a breakthrough, leading to further progression toward the $0.1320 region.
An unfavorable perspective emerges when examining the weekly chart, as the volume has dwindled, indicating neither bulls nor bears are prepared for a significant price shift at present.
From my perspective as an analyst, it seems more plausible that the consolidation will continue within the range of $0.12 to $0.1350 up until the end of this month.
DOGE is trading at $0.1249 at press time.
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2024-06-27 18:20