Dogecoin Struggles to Break Key Resistance Level

You can also read this news on COINTURK NEWS: Dogecoin Struggles to Break Key Resistance Level

Dogecoin (DOGE) continues to attract attention in the cryptocurrency market. The cryptocurrency created a wave of excitement among investors as it rose above the declining trend line on Valentine’s Day, February 14th. However, the subsequent correction caused disappointment for some. Still, DOGE’s efforts to test and break these resistance levels keep hopes alive for the future.

DOGE Price Battles to Reclaim $0.0900 Level

Currently, DOGE is struggling to reclaim the $0.0900 price level. Many technical indicators point to a potential 5% increase if it breaks above this level. The Relative Strength Index (RSI) is moving upward, indicating increasing momentum. Similarly, the Awesome Oscillator (AO) histogram bars are in the positive zone, supporting the uptrend.

However, it’s important to remember that not every scenario in the market will be positive. Many investors may sell their DOGE to realize profits, which could lead to a price drop. In particular, if the price falls below $0.0817, the bullish market thesis could be invalidated. Such a scenario could lead to even lower price levels for DOGE.

Investors Should Keep an Eye on These Levels

An important level for Dogecoin investors to watch is the $0.0752 level. If the DOGE price falls below this, a larger correction could likely begin.

Investors still remember Dogecoin as one of the star altcoins during its 2021 rally and dream of a similar movement in the future. While a meteoric move like that period may not be on the horizon, the enthusiasm among investors could still enable a rally to form.

Cryptocurrency DOGE’s price at the time of writing is at $0.085. The $0.1 level has long been a key resistance for DOGE. Breaking this level could be significant for investors, who suggest that a rally could start after surpassing this threshold.

The post first appeared on COINTURK NEWS: Dogecoin Struggles to Break Key Resistance Level