Dogecoin Shows Bullish Bias As $0.12 Support Holds; Will $0.15 Be Breached?
November 05 2022 - 4:56AM
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DOGE’s price fails to rally high as the price continues to
stall in its price movement despite the market looking green across
boards. DOGE’s price continues to trend above key
support as the price tries to build more strength to overcome this
area of resistance that has held the price from rallying.
DOGE’s price remains strong on the daily timeframes as the price
trades below the 50 and 200 Exponential Moving Averages (EMA). The
price of Dogecoin (DOGE) showed some good price action to the
upside as the price has continued to hold above its key support
zones, with upside potential more likely. The crypto market has
enjoyed a bit of relief across all assets, with Bitcoin (BTC)
showing great traction, rallying and dragging the market. Dogecoin
(DOGE) has remained relatively slow in recent days as buy orders
have become slow due to the price facing resistance to breaking
higher. (Data from Binance) Related Reading: What Happens To
Dogecoin If Twitter Fails To Implement Crypto Plans? Dogecoin
(DOGE) Price Analysis On The Weekly Chart The past week has seen
many altcoins continue to produce over 200% gains over the past 7
days of breaking out of their range-bound movement, as many believe
more hope could be settling into the crypto space once more.
The new week has looked a bit skeptical, but things are beginning
to shape up and looking more promising for some altcoins, like
BAND, rallying over 100% in less than 24 hours, showing the price
action and volume for buy orders. The price of DOGE has shown
little sign of volatility as the price continues to stall in its
price movement as the price aims to break out of its shell with a
rally imminent. After dropping from its high of $0.15, rallying
from a weekly low of $0.055, the price of DOGE has struggled
recently to pull off a rally that has left many in euphoria.
The price of DOGE saw its trade at a low of $0.05 on the weekly
chart; the price swiftly bounced from this region as the price
rebounded to a region of $0.077 as the price found itself trading
in a range before breaking out with strong volume to a high of
$0.15 as it faces resistance to trend to $0.2. Weekly
resistance for the price of DOGE – $0.15. Weekly support for the
price of DOGE – $0.12. Price Analysis Of DOGE On The Daily (1D)
Chart In the daily timeframe, the price of DOGE continues to look
strong as the price broke out of its long-range price movement to a
high of $0.15, recapturing the key support of $0.12 before facing
resistance to breaking higher after pulling gains of over 150% in 7
days. The price of DOGE trades at $0.13 above the 50 and 200
EMA, which indicates a good relief sign for DOGE’s price on the
daily timeframe could be imminent after facing rejection to trend
higher. Daily resistance for the DOGE price – $0.15. Daily
support for the DOGE price – $0.0112. Related Reading: BNB Coin
Surges By Over 20% During Market Pullback Featured Image From
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