DOGE price has been sluggish over the last few weeks as it can’t seem to hold above the $0.30 mark. Many other top 20 coins have outperformed DOGE the last month as it is only up 50% compared to others 100%+. DOGE may just be lagging behind the market a bit & will require patience before a breakout occurs. The meme coin mania has surely died down over the last 4 months but at any time it may spike back up & send DOGE flying.
Ever since DOGE hit its monthly high of $0.34 on August 16th, it has been consolidating above its major support zone of $0.26-$0.29. Just over a week ago, DOGE price was forming a falling wedge pattern & it had successfully broken to the upside the past few days. Taking note of the price action after the breakout, we can now see a newly formed descending channel has been spotted (shown in light blue). For DOGE price to really pick up steam and head past the $0.30 mark, bulls must push it above the top trend of its channel along with the major resistance zone of $0.306.
DOGE Price Analysis: DOGE/USDT 4 Hour Chart
If DOGE manages to break & hold the $0.30 mark, the next battle for bulls lies within the major resistance zone of $0.32-$0.338. If Doge coin succeeds in breaking this major resistance zone, we should see a spike to $0.36+. In the case that bears assert more control & stop DOGE price from breaking the $0.30 mark, we should expect prices to retreat back into the major support zone around $0.27. Along with this zone lies the 200 MA which has held price up for over a month now. Anything below this zone & MA will land DOGE in a bear trend.
DOGE Intraday Analysis
Crypto market analyst Adam Livingston has sharply criticized S&P Global Ratings after the agency assigned…
In a fresh development, a newly registered claim domain has led to speculations that the…
Citigroup, a top U.S. bank with $2.5 trillion asset under management has partnered with Coinbase.…
U.S. Treasury Secretary Scott Bessent has confirmed the final shortlist of contenders to replace Jerome…
Mt. Gox has once again pushed back its long-awaited Bitcoin (BTC) creditor repayments by a…
Crypto ETFs record nearly $1 billion in weekly inflows. This marks one of the strongest…