Is Dogecoin the new bitcoin? The coin is up over 42% in the last month, and has broken through the $0.30 level on multiple occasions.
Last week, Dogecoin [DOGE] started to build support for its $0.30 handle, and broke it. After a slight consolidation, Dogecoin [DOGE] has started to see some bullish action, and it could target the critical $0.35 handle.Summary of the situation
- The DOGE went down last week.
- The next resistance is at $0.35.
- The next support is at $0.30.
The dogecoin price analysis for today is bullish as the $0.30 level was tested yesterday for the second time in the past week. Therefore, we can expect the bulls to be ready to push DOGE/USD higher next week to break through the current momentum high at $0.35. Crypto-currency heat map. Source: Coin360 Over the past 24 hours, the cryptocurrency market has seen mixed dynamics. Bitcoin is up 3.8%, while Ethereum is flat. The rest of the crypto-currency market has traded with similar mixed results, with low volatility.
Dogecoin price movement in the last 24 hours
The DOGE/USD pair traded in a range of $0.3079 – $0.3193, indicating moderate volatility. Trading volume fell 40.52% to $1.15 billion. The total market value is $41.5 billion, putting the cryptocurrency in 6th place overall.
4-hour chart DOGE/USD – DOGE rebounds from $0.30
On the 4-hour chart we can see that the DOGE/USD is gearing up for a rally after testing the $0.30 support level for the second time. 4-hour chart of DOGE/USD. Source: TradingView Overall, price action in the market remains bearish. However, lows have not been reached for weeks, suggesting that the bulls are building momentum to move higher this month. Thus, the DOGE/USD pair is currently trading in an increasingly narrow range with the last major resistance at $0.44 and support at $0.30. Further minor resistance is seen at $0.35, meaning that breaking through that will be the first sign of a trend reversal. Once the $0.35 level is broken, we can look for an entry opportunity and expect the next resistance at $0.44 to be broken. After that, the general market sentiment will become very bullish again and we can expect another strong rally towards the previous all-time high. Otherwise, if the $0.30 level is broken, we can expect further declines later in the month. The closest support is at $0.28 and could serve as final support for a more serious downward move.
Dogecoin Price Analysis: Supplement
Dogecoin price analysis is bullish now that the $0.30 level was tested for the second time last night and the bulls are now starting to push Dogecoin higher. This should lead to a break above $0.35, after which DOGE will see a strong rally towards the previous major high of $44. Until further notice dogecoin price action how to trade bitcoin, cash out and buy bitcoin stocks. Denial. The information provided does not constitute commercial advice. .com accepts no responsibility for investments made on the basis of information provided on this site. We strongly recommend that you conduct independent research and/or consult a qualified expert before making any investment decision.