The Dogefather can still work his magic. Dogecoin’s price rallied to its best levels in two months as traders assessed Twitter’s potential to create a cryptocurrency wallet product.
From a technical standpoint, Dogecoin’s recovery shows signs of exhaustion as its price tests a strong resistance confluence.
On the three-day chart, the confluence comprises three resistance levels: a multi-month descending trendline, the 50-3D exponential moving average , and a horizontal level around $0.08, as shown below.Given DOGE’s immediate correction after testing these resistance levels, the token’s possibility of heading lower appears high. Meanwhile, its downside target is near the ascending trendline that has served as support in recent months.
That puts DOGE’s price en route to around $0.06 in Q4/2022, approximately 20% below the current price.Conversely, a decisive breakout above the resistance confluence could have DOGE eye the 200-3D EMA near $0.11 as its next upside target. In other words, a 50% boom from current price levels. The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Dogecoin (DOGE) Whales Return as DOGE Rise Above $0.072$DOGE massive price spike on the market already attracts new investors, and the main reason is not performance itself
Les mer »
Dogecoin (DOGE) Makes Massive Comeback: Crypto Market Review, October 25$DOGE is making a run for a recovery while $ETH and other cryptocurrencies are already showing double digit gains
Les mer »
DOGE Marked 10-Week Peak, ETH at Highest Levels Since Merge: Market WatchETH eyes $1,600 for the first time since the Merge completion, while DOGE soared following Elon Musk's visit to Twitter HQ.
Les mer »
KNC Price Spikes as Whales Add 20% of Supply, 67% Rise Might Happen: DetailsWhales have been adding substantially to their KNC holdings in past few months, showing likely price surge in near future
Les mer »
Biggest Movers: DOGE Hits 2-Month High, ADA Rallies by 10% – Market Updates Bitcoin NewsA day after hitting a one-week high, dogecoin raced to a two-month high earlier in today’s session. Cardano was 10% higher on Wednesday.
Les mer »
First Mover Americas: It's a DOGE Day as Elon Musk Close to Completing Twitter DealBitcoin was trading down slightly at $20,500 on Thursday, while meme token dogecoin surged 12% on news that billionaire Elon Musk is getting close to completing his purchase of Twitter. LedesmaLyllah and godbole17 report.
Les mer »