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cryptocurrency

Dogecoin holds USD 0.08 against all odds; This is why it will favor the DOGE military

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  • DOGE price remains strong as the price remains above the key $0.08 area as the bulls aim higher.
  • The DOGE price remains bearish with the current market conditions as most traders and investors remain cautious.
  • The DOGE price bounced off a low of $0.07 on the daily time frame as it looks like it will retest above the 50 exponential moving average (EMA).

Dogecoin (DOGE) continues to show better price action compared to Bitcoin (BTC) over the past few days as the price reclaims the $0.08 support and $0.1 if the crypto market remains calm ahead of the monthly close. Expect another rally in the K-zone. Despite Dogecoin’s (DOGE) relief, the price is still trading below a key area of ​​interest that will capture the attention of many buyers. The domino effect of the FTX saga and other major investors has brought the market to a halt as the market has yet to take a major move that could move the market. (Data from Binance)

Dogecoin (DOGE) price analysis on the weekly chart

Despite the uncertainty and turbulence affecting the price of Dogecoin (DOGE) and the crypto market as a whole, many altcoins are struggling to survive and are trying to stay afloat as altcoin prices continue to fall.

The DOGE price fell from the $0.15 area to the $0.7 area as DOGE lost this key support. The DOGE price failed to hold above $0.1, causing the price to retest lower price points.

DOGE price stayed above $0.08-$0.07 which is a good sign for DOGE forces on the weekly chart and other time frames. If the price of DOGE loses this area of ​​interest, it would mean that the price falls and controls the price of DOGE.

Also read  Dogecoin Gains 8% On Claim Elon Musk Will Upgrade DOGE With Vitalik Buterin

Weekly resistance for the price of DOGE – $0.1.

Weekly support for the price of DOGE – $0.08-$0.07.

DOGE price analysis on the daily (1D) chart

Daily DOGE Price Chart | Source: DOGEUSDT on Tradingview.com

DOGE price remains quite strong in the daily time frame as DOGE price trades above $0.08 after falling from $0.15 to $0.07 as the market is in a state of uncertainty.

The DOGE price continues to struggle as the price seeks more relief from this area. A short term relief is needed to regain the DOGE price and trade above $0.1. At $0.1, DOGE will strongly resist price, in line with the Fibonacci retracement level of 38.2%.

DOGE price is trading below the 50 EMA at $0.08, acting as resistance to DOGE’s higher trend. DOGE needs to recover the $0.012 price on the daily time frame for the bulls to feel safe.

Daily resistance for DOGE price – $0.11.

DOGE Price Daily Support – $0.08-$0.07.

Featured image of Zipmex, chart from Tradingview

source: newsbtc.com

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