DOGECOIN has ranged in recent weeks, but its volatility has been high.
After DogeCoin rose from the $0.065 range, buying pressure pushed the price to near the $0.100 resistance. Fearing a strong reaction to this area, many buyers took profits before the price hit this level, and with the formation of a double top reversal pattern, we saw the price correct to valid support in the $0.075-$0.080 range.
Again, at this level, the demand for Dogecoin was created, and it has registered a growth of 15%. In the 4-hour time frame, the trend of Dogecoin is bearish, and the range that we can consider as a turning point or an important supply and demand level is $0.088-$0.089.
A break above this resistance could re-establish the 4-hour timeframe trend to the upside, increasing the potential for further price growth to the $0.102-$0.109 resistance range.
After DogeCoin rose from the $0.065 range, buying pressure pushed the price to near the $0.100 resistance. Fearing a strong reaction to this area, many buyers took profits before the price hit this level, and with the formation of a double top reversal pattern, we saw the price correct to valid support in the $0.075-$0.080 range.
Again, at this level, the demand for Dogecoin was created, and it has registered a growth of 15%. In the 4-hour time frame, the trend of Dogecoin is bearish, and the range that we can consider as a turning point or an important supply and demand level is $0.088-$0.089.
A break above this resistance could re-establish the 4-hour timeframe trend to the upside, increasing the potential for further price growth to the $0.102-$0.109 resistance range.
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