Price: $0.31489 -1.9354%
Market Cap: 46.39B 1.4104%
Volume (24h): 4.16B 0%
Dominance: 1.4104%
Price: $0.31489 -1.9354%
Market Cap: 46.39B 1.4104%
Volume (24h): 4.16B 0%
Dominance: 1.4104% 1.4104%
  • Price: $0.31489 -1.9354%
  • Market Cap: 46.39B 1.4104%
  • Volume (24h): 4.16B 0%
  • Dominance: 1.4104% 1.4104%
  • Price: $0.31489 -1.9354%
Home > Information news > Dogecoin Technical Analysis: Key Levels to Watch

Dogecoin Technical Analysis: Key Levels to Watch

Release: 2023/11/13 06:51 Reading: 289

Original author:COINTURK NEWS

Original source:https://coinmarketcap.com/community/articles/65514d35ee60be6059f961e3

Technical analysis plays a crucial role in the cryptocurrency market, especially for investors trading in the futures market. So, what insights does technical analysis provide for Dogecoin, which is currently trading at $0.078? Let’s take a detailed look at the charts, important support and resistance levels.

Dogecoin Daily Chart Analysis

The Dogecoin daily chart reveals a notable breakout from a descending wedge formation, and after working as support, the resistance line led to a significant rise in DOGE. Additionally, the support provided by the EMA 200 (red line) during the drop on November 9 is a positive indicator for the DOGE price.

The support levels to watch on the daily chart for DOGE are $0.07523, $0.07226, and $0.06905, respectively. A daily close below $0.06905 could lead to a significant decline in this area. In such a scenario, the support level at $0.05750 may come into play.

The notable resistance levels to watch on the daily chart for DOGE are $0.08027, $0.08238, and $0.08500, respectively. In particular, breaking the unbroken $0.08238 resistance level in the recent rally could trigger a potential bullish rally for DOGE. This, of course, can also be seen with the positive impact of news flow.

DOGE/BTC Chart Analysis

In the DOGE/BTC pair, there has been a recent breakout from a contracting triangle structure. The repeated support provided by the resistance line indicates a consolidation phase for DOGE. The recent support provided by the EMA 200 suggests a significant potential rise in this structure.

The support levels to watch in the DOGE/BTC pair are 0.00000208, 0.00000205, and 0.00000202, respectively. Especially, a close below 0.00000205 could lead to a retracement within the formation and the creation of a structure below the EMA 200 level. In such a case, DOGE would lose value against Bitcoin.

The notable resistance levels to watch in the DOGE/BTC pair are 0.00000213, 0.00000216, and 0.00000219, respectively. In particular, a close above 0.00000219 could trigger a significant upward momentum for DOGE.

Continue Reading: https://en.coin-turk.com/dogecoin-technical-analysis-key-levels-to-watch/

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