Dogecoin slows down as soon as a bearish sign appears. These are the levels to watch.
- After showing so much strength, the price of DOGE slowed down as it reached a high of $0.15.
- DOGE may face a retracement as a bearish divergence appears in the four-hour (4H) time frame, with a slight retracement in price.
- DOGE price remains strong on the daily time frame as the price moves above the 50 and 200 Exponential Moving Averages (EMA).
Dogecoin (DOGE) price showed an incredible price action as the price moved from a low of $0.055 to a high of $0.15, much to the delight of many. The crypto market has enjoyed a bit of a relief bounce across most assets, with Bitcoin (BTC) and Ethereum (ETH) leading the charge as most crypto assets, including Dogecoin (DOGE), closed in less than 7 days. I have increased by more than 150%. . With uncertainty in the crypto market, DOGE may face a pullback as a bearish sign emerges. (Data from Binance)
Dogecoin (DOGE) price analysis on the weekly chart
The crypto market is looking increasingly bullish as many altcoins continue to gain more than 150% during the 7 days since breaking out of their range limits. The likes of DOGE have seen some great run rallies.
Last week was tough for the crypto space, with many altcoins struggling to maintain their key support areas. After playing so many rallies in the preceding weeks, the week looks more mixed.
After closing the week above $0.12, the price of DOGE reached a high of $0.15. The price faced a minor rejection to move higher in the $0.15 area, thus trending higher.
The price of DOGE has maintained its bullish shape above the $0.12 area as the price of DOGE may suffer a retracement to the $0.1 area and even lower if this area is lost.
Weekly resistance for DOGE price – $0.15.
DOGE price analysis on daily (1D) chart
In the daily time frame, the price of DOGE continued to look strong as the price held above its range channel, providing strong support for the sellers to hold the price.
DOGE is currently trading at $0.13, above the key support formed at $0.095 on the daily time frame, after a successful breakout from the range channel with good volume, the price reached a high of $0.15, where it is trending higher. Rejected from
The price of DOGE has formed a bearish gap on the 4H timeframe which suggests that further retracement may be in the pipeline as the price may move back to the $0.1-$0.095 area. If these levels are broken, we could see the price fall into the $0.07-$0.055 region.
Daily resistance for DOGE price – $0.15.
Daily support for DOGE price – $0.09-$0.055.
