- DOGE price is showing strength as it continues its rally with an eye on the $0.2 high.
- DOGE may rally higher as price breaks out of a bullish continuation pattern creating more bullish bias, with its eyes set on a higher rally.
- The price of DOGE remains strong on all time frames as the price moves between 50 and 200 . is above exponential moving average (EMA).
The price action displayed by Dogecoin (DOGE) over the past few days has been tremendous, as the price of Dogecoin (DOGE) has become a standout performer, generating bull market excitement in the hearts of many. Bitcoin (BTC) price creates a more bullish scenario in the crypto market; This has also acted as a catalyst for DOGE’s price, seeing as how the market has introduced a slight respite across all boards. (data from Binance)
Dogecoin (DOGE) Price Analysis on Weekly Chart
The crypto market is increasingly welcoming as several altcoins have continued to produce gains of over 150% in the past 7 days after exiting their range-bound movement. The picks of DOGE have seen some spectacular performance in the recent days from the $0.055 low to $0.15 high.
Last weeks were tough for the crypto space, with many altcoins struggling to maintain their key support areas. With the week looking more promising and bitcoin (BTC) prices gaining traction, the crypto market has enjoyed some respite.
After a weekly close above $0.07, DOGE price reached a high of $0.14; The price faced a minor rejection to break the $0.15 area; The price struggled to break above this area.
DOGE price has maintained its bullish structure above the $0.145 area as DOGE price rebounded towards the $0.18 area, which could prove to be very important for its price rally to $0.2. If DOGE doesn’t break above $0.2, we could see the price drop to $0.18-$0.15.
Weekly resistance for DOGE price – $0.18-$0.2.
Weekly support for DOGE price – $0.145.
DOGE Price Analysis on Daily (1D) Chart
On the daily time frame, DOGE price continued to look strong as the price broke out of its bullish continuation pattern and retreated slightly for more buy orders; DOGE price continued to rally above the $0.158 high with decent volume, but it faced a slight rejection.
APE is currently trading at $4.9, which is well above its key support formed at $5 after a successful breakout from a descending triangle. The APE price trades below the 50 EMA, and the 50 EMA corresponds to $5 acting as a support for the APE price.
DOGE price is struggling to close and trade above $0.155, which corresponds to the 61.8% Fibonacci retracement value (Fibonacci value); If the price breaks out and closes, we could see a price rally to $0.18-0.2, which indicates a possible price retracement in the $0.15-$0.14 area.
Daily resistance for DOGE price – $0.18-$0.2.
Daily support for DOGE price – $0.14.
Featured Image From Ticker, Charts From Tradingview