MonoCoinSignal

Demand for Dogecoin has been created at the support level

BINANCE:DOGEUSDT   Dogecoin / TetherUS
After DogeCoin rose from the $0.065 range, buying pressure pushed the price up to near the $0.100 resistance. Fearing a strong reaction to this area, many buyers took profits before the price hit this level, and with the formation of a double top reversal pattern, we saw the price correct to valid support in the $0.075-$0.080 range.

Recently, demand for Dogecoin has been created at this support level, and it has registered a 15% growth. In the 4-hour timeframe, the trend of Dogecoin is bearish, and the range that we can consider as a turning point or an important supply and demand level is $0.088-$0.089. A break of this resistance to the upside could re-uptrend the 4-hour timeframe, increasing the potential for further price growth to the $0.102-$0.109 resistance range.

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