As a seasoned financial analyst with extensive experience in the cryptocurrency market, I’ve closely monitored the price action of the top 10 coins over the weekend, and I must admit that it’s started off on a bullish note. According to CoinMarketCap, the collective market capitalization of these coins has seen a notable increase.
The weekend has started bullish for the top 10 coins, according to CoinMarketCap.
DOGE/USD
The rate of DOGE has increased by 2.38% over the last 24 hours.
The hourly chart indicates that Dogecoin’s price is currently situated in the midst of a tight range, with support at $0.1627 and resistance at $0.1697 forming the boundaries.
Should buyers take the lead and the price approaches $0.17 as a potential threshold, a breakthrough could propel it toward the $0.1750 mark.
From a broader perspective, neither side appears to be gaining significant ground as the price movement is yet to approach major resistance or support levels. Consequently, any sudden price spikes are highly unlikely in the near term. Instead, it seems that the market will continue its current trend of sideways trading, with prices fluctuating between approximately $0.16 and $0.17.
Looking at the mid-term perspective, it is recommended for traders to keep an eye on the weekly candlestick closures. Should the closure occur in proximity to the peak, there’s a possibility that the price uptrend will persist towards $0.18-$0.20.
DOGE is trading at $0.1663 at press time.
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2024-05-25 17:15