The price of Dogecoin has decreased over the past few days as the opposite winds in the market moved from climbing to landing again. This comes due to a decrease in market participation, which also leads to a decrease in trading volume. As such, the Mimi currency has now been pushed to the main support level, with resistance already escalating.
Dogecoin should overcome $ 0.239 -0.241 dollars
Amid the decrease in the price of Dogecoin, an analyst at coding, Michael specific The levels that must be dominated by the MG currency in order to resume its upward path. After a level of 0.22 dollar level decreased, it has now formed a large resistance above, and what happens when the price re -testing this resistance in the next direction.
The first of this lies in the trade union resistance $ 0.239 -0.241 dollars. This is the first level of resistance to be formed after the collapse of the Dogoin price. Therefore, if Doge is able to re -test this level and restore it successfully, it can return it to support and act as a launch to increase the following prices.
According to the encryption analyst, a break over this resistance means that the MG currency can move towards the resistance of the medium canal. Looking at the last price performance, this puts it in about $ 0.260-0.280 dollars, which leads to a large extent The next step in the penetration cycle.
Then the continuous bullish momentum pushes the following main resistance, which has not been broken in the last mass collections. 0.3 dollars is now a break to confirm a continuation or rejection that would slow down.
Failure to restore can lead to bondage
In the event that Dogecoin price He failed to re -test and break the resistance, he is likely to see a huge direction from here. This first batch will be to re-test the support at $ 0.215 -0.218 dollars, as the bears should make its position or risk the loss of control completely. This failure will put it on another path that can see that it is struggling and may move less than $ 0.2 again before the bulls can regain control.
At this time, the encryption analyst advises investors to search for signs such as “high size, fracture and closure over the resistance areas, and align the ups of the ups” to work Emphasis on upward movement. Otherwise, the decline is likely to continue.
Distinctive image from Dall.e, Chart from TradingView.com
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The post Dogecoin Could See Bullish Continuation If It Reclaims This Level first appeared on Investorempires.com.
