While Dogecoin remains above the support level at $0.2500, it has lacked enough bullish momentum to retest the psychological level of $0.3000. In the ensuing sessions, Dogecoin price will likely bounce back to and beyond the resistance level of $0.3000.
DOGE is hovering around 0.2800 as has been the case since Sunday. On a four-hour chart, it is trading along the 25-day EMA and slightly below the 50-day EMA. At the time of writing, it was up and at $0.2886.
In the near term, I expect Dogecoin price to remain within a tight range as 0.2800 remains a crucial level in its movements. The resultant horizontal channel will likely have its lower and upper borders at the week’s low of 0.2697 and along the 50-day EMA at 0.293 respectively.
A bullish breakout will likely push the crypto to the resistance level at 0.3000. However, this thesis will be invalidated by a move below last week’s low at 0.2647.
Feel free and get in touch for more ideas and trade signals
DOGE is hovering around 0.2800 as has been the case since Sunday. On a four-hour chart, it is trading along the 25-day EMA and slightly below the 50-day EMA. At the time of writing, it was up and at $0.2886.
In the near term, I expect Dogecoin price to remain within a tight range as 0.2800 remains a crucial level in its movements. The resultant horizontal channel will likely have its lower and upper borders at the week’s low of 0.2697 and along the 50-day EMA at 0.293 respectively.
A bullish breakout will likely push the crypto to the resistance level at 0.3000. However, this thesis will be invalidated by a move below last week’s low at 0.2647.
Feel free and get in touch for more ideas and trade signals
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