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A Great Buying Opportunity in That Altcoin That Everyone is Talking About!


Dogecoin (DOGE) price shows the mobility to return from the resistance at $ 0.11 after the recent recovery. Such a potential reversal may cause a retest of the level returning to support from the resistance at $ 0.09 to confirm whether the price can continue higher levels, and this could be a great buying opportunity. But what if this support is lost in the popular altcoin and the price falls below it? Come, let’s take a closer look.

Dogecoin’s Market Performance

In the midst of the recent correction in the cryptocurrency market, the price of Dogecoin fell to the local support of $ 0,074. Over the past 3 weeks, the price of the largest dog-themed cryptocurrency has recovered twice from the level of 0,074 dollars, and this level has been confirmed as a real support.

The rise from this support increased the price by 38.5 percent, bringing it to the current price of $ 0.1. October paid off. In addition, the growing rumor that the famous billionaire Elon Musk will accept Dogecoin as a means of payment on Twitter has also contributed to the recent rise. Moreover, Musk has recently lifted the ban on several Twitter accounts that post about Dogecoin.

Multiple rejection candles at the resistance of $ 0.11 for Dogecoin indicate that the buyers’ power struggle paves the way for higher prices. This means that with continuous sales, the DOGE price may fall and the price may decline to its support at $0.09. A potential drop of 12 percent could result in retesting the $0.093 support to renew the bullish momentum. If buyers manage to stay above the mentioned support, a post-correction rally can be seen.

On the other hand, a one-day candle close below $ 0.09 will stabilize the upward momentum, and the result of the ongoing correction may result in the price’s decline to $ 0.74

Technical Indicators For DOGE

The daily RSI rose above the neutral December and the 20-day SMA, indicating a positive change in market sentiment. While the important EMAS, which are seen to be stacked around $0.09 on Dogecoin’s price chart, strengthen the support power of this horizontal level, the price’s arrival at this level increases the likelihood that the uptrend will resume.

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