Price: $0.38769 3.7818%
Market Cap: 56.95B 1.7378%
Volume (24h): 8.06B 0.4%
Dominance: 1.7378%
Price: $0.38769 3.7818%
Market Cap: 56.95B 1.7378%
Volume (24h): 8.06B 0.4%
Dominance: 1.7378% 1.7378%
  • Price: $0.38769 3.7818%
  • Market Cap: 56.95B 1.7378%
  • Volume (24h): 8.06B 0.4%
  • Dominance: 1.7378% 1.7378%
  • Price: $0.38769 3.7818%
Home > Information news > Dogecoin's Rally Is Over As It Is Rejected At $0.080

Dogecoin's Rally Is Over As It Is Rejected At $0.080

Release: 2023/11/26 06:33 Reading: 754

Original author:TheBitTimes

Original source:https://coinmarketcap.com/community/articles/65622230730c7c3c070961fe

Nov 25, 2023 at 12:52 // Price
Author
Coin Idol

The latest price Analysis by Coinidol.com report, Dogecoin (DOGE) has resumed a new uptrend after the end of the November 17 rally.

Dogecoin price long term forecast: bullish

Last week, it traded between $0.070 and $0.082. Buyers pulled the cryptocurrencies above the 21-day simple moving average on November 22 and continued the uptrend.

DOGE's price was rejected after reaching a high of $0.080. If the resistance of $0.080 is broken, DOGE price is expected to rise to the highs of $0.090 and $0.10. On the other hand, the value of the crypto asset will fall and trade between $0.070 and $0.080, invalidating the bullish scenario.

Dogecoin indicator reading

Following the recent market rally, the price bars have risen above the moving average lines. The price bars on the 4-hour chart are either above or below the descending moving average lines. The price of the cryptocurrency is currently above the moving average lines.

DOGEUSD_ (Daily Chart) –Nov. 25.23.jpg

Technical indicators

Key resistance levels – $0.12 and $0.14

Key support levels – $0.06 and $0.04

What is the next direction for Dogecoin?

Dogecoin has returned to the uptrend zone and has reached a high of $0.080. Buyers have struggled to maintain positive momentum above the $0.080 high. DOGE was beaten back on the first retest of the recent high. The price of the cryptocurrency is bouncing below the current high to break through it.

DOGEUSD_ (4-hour Chart) –Nov. 25.23.jpg

On November 19, 2023 cryptocurrency analytics specialists of Coinidol.com stated that the price of the cryptocurrency has retraced above the 21-day SMA as it hit its last high on November 15. The altcoin has surpassed the historical price level of July 14. 

Disclaimer. This Analysis and forecast are the personal opinions of the author and are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol.com. Readers should do their research before investing in funds.

Source: https://thebittimes.com/dogecoin-s-rally-is-over-as-it-is-rejected-at-0-080-tbt71612.html

Selected Topics

  • Dogecoin whale activity
    Dogecoin whale activity
    Get the latest insights into Dogecoin whale activities with our comprehensive analysis. Discover trends, patterns, and the impact of these whales on the Dogecoin market. Stay informed with our expert analysis and stay ahead in your cryptocurrency journey.
  • Dogecoin Mining
    Dogecoin Mining
    Dogecoin mining is the process of adding new blocks of transactions to the Dogecoin blockchain. Miners are rewarded with new Dogecoin for their work. This topic provides articles related to Dogecoin mining, including how to mine Dogecoin, the best mining hardware and software, and the profitability of Dogecoin mining.
  • Spacex Starship Launch
    Spacex Starship Launch
    This topic provides articles related to SpaceX Starship launches, including launch dates, mission details, and launch status. Stay up to date on the latest SpaceX Starship launches with this informative and comprehensive resource.
  • King of Memes: Dogecoin
    King of Memes: Dogecoin
    This topic provides articles related to the most popular memes, including "The King of Memes: Dogecoin." Memecoin has become a dominant player in the crypto space. These digital assets are popular for a variety of reasons. They drive the most innovative aspects of blockchain.