Dogecoin Consolidates With Rising Volumes, DOGE Adds 26%
Past Performance of Dogecoin
Dogecoin remains under pressure. Even though it is up roughly 10% in the last trading week, it remains within a bear formation with caps at $0.078. The good news is that DOGE prices are above the middle BB and steady above $0.070. Still, for the uptrend to take shape, there must be a conclusive high volume close above $0.078 in the days ahead.
Dogecoin Technical Analysis
DOGE is up 26% from March lows, but prices are moving horizontally with limits at $0.078 and $0.070, respectively. The coin remains within a bear formation unless bulls break above $0.078 with expanding volumes. The only positive in the current formation is that the leg up is with expanding volumes, increasing the probability of a bullish breakout. In that case, the bear breakout of March 3 will be invalid, allowing traders to ride the emerging trend targeting $0.090. Any dump below $0.070 with such rapidity will likely cancel this bullish preview.
What to Expect From DOGE?
DOGE remains in a consolidation though volumes are relatively higher. Though prices are also higher, the failure of bulls to push above $0.078 could suggest weakness. Still, it is until there is a clear trend definition above or below the current consolidation that traders can open positions, riding the trend.
Resistance level to watch out for: $0.078
Support level to watch out for: $0.070
Disclaimer: Opinions expressed are not investment advice. Do your research.
Dogecoin remains under pressure. Even though it is up roughly 10% in the last trading week, it remains within a bear formation with caps at $0.078. The good news is that DOGE prices are above the middle BB and steady above $0.070. Still, for the uptrend to take shape, there must be a conclusive high volume close above $0.078 in the days ahead.
Dogecoin Technical Analysis
DOGE is up 26% from March lows, but prices are moving horizontally with limits at $0.078 and $0.070, respectively. The coin remains within a bear formation unless bulls break above $0.078 with expanding volumes. The only positive in the current formation is that the leg up is with expanding volumes, increasing the probability of a bullish breakout. In that case, the bear breakout of March 3 will be invalid, allowing traders to ride the emerging trend targeting $0.090. Any dump below $0.070 with such rapidity will likely cancel this bullish preview.
What to Expect From DOGE?
DOGE remains in a consolidation though volumes are relatively higher. Though prices are also higher, the failure of bulls to push above $0.078 could suggest weakness. Still, it is until there is a clear trend definition above or below the current consolidation that traders can open positions, riding the trend.
Resistance level to watch out for: $0.078
Support level to watch out for: $0.070
Disclaimer: Opinions expressed are not investment advice. Do your research.
