dogecoin Today’s price analysis is bearish, as there was a strong refusal to further rise after setting a slightly higher local high. Perhaps DOGE / USD began to fall later today and bears have previously resisted as support. You can retest the level.
The market has moved higher in the last 24 hours. Bitcoin, the leader, rose 2.43%. Ethereum It was only a 0.1% delay. Meanwhile, Dogecoin (DOGE) increased by 5% of him and was one of his best performers.
Dogecoin Price Action Over the Last 24 Hours: Dogecoin Tested Further Upwards
DOGE / USD trades in the range of $ 0.06819 to $ 0.07391 and shows significant volatility over the last 24 hours. Trading volumes increased 1.49% to a total of $ 747.64 million, with a market capitalization of approximately $ 9.6 billion, and coins ranked 10th overall.
DOGE / USD 4-hour chart: Is DOGE ready to retest the downside?
The 4-hour chart dogecoin price After a strong rejection earlier today, behavior has started to reverse.
Dogecoin pricing behavior has risen significantly in the last few days. After the new lows broke above $ 0.06 on Tuesday, DOGE / USD began to reverse and rose towards the middle of the week.
In the end, DOGE went back almost all of its previous gains. Reached $ 0.072From there, a fast reaction drop set a strong higher local low before more buying pressure resumed overnight to date.
Dogecoin price has already broken its previous highs this morning, pushing towards $0.0745, but saw another rejection. Perhaps this price structure indicates that another reversal could follow in the next few days and DOGE/USD could retest his $0.069.
However, if support is not broken, DOGE is expected to continue rising next week, with a monthly high of $ 0.078 as the next rising target. Alternatively, if the previous local low of $ 0.068 is broken, a stronger push is expected next week.
Dogecoin Price Analysis: Conclusion
Dogecoin Price Analysis We are bearish today as we failed to set a significantly higher high and a quick rejection lower earlier today. Therefore, we expect a retrace to follow soon and DOGE/USD to return to his $0.069 support.