Dogecoin potential for higher prices
The price of Dogecoin formed the bottom on June 12, set the lowest level at $ 0.30.
Overcoming resistance levels at $ 0.328 and setting a higher level above $ 0.355 can start the climb. The current inability of customers to cross the current supply barrier to $ 0.328 or $ 0.367 could result in a reversal. The price of Dogecoin seems to be bullish and shows signs of a potential new uptrend. But this rise requires confirmation, which will arrive after DOGE produces a decisive close at a critical level of resistance.
The price of Dogecoin has dropped significantly since the high value was set on June 2 at $ 0.448. After a 35% sell-off, Dogecoin has formed a bottom above support levels at $ 0.293 and looks ready for recovery.
Even though the price of bitcoin exceeds $ 40,000, a key psychological barrier, altcoins, including DOGE, have failed to do anything special, suggesting that investors are mostly interested in BTC.
Assuming a potential-jump attracts buyers and it does happen, the price of Dogecoin must close above the current resistance level at $ 0.328.
After this, Dogecoin should set a higher high above the previous momentum at $ 0.355 created on June 9. At the same time, this move could serve as an initial confirmation; a decisive close above $ 0.367 will signal the start of a new uptrend. If that happened, the price of Dogecoin could mark a resistant barrier at $ 0.40000.
Investors should note that the failure to rise above $ 0.367 will indicate that the bears are not over yet. In that case, DOGE could retest the support at $ 0.293. If the price closes below $ 0.293, we can expect a drop, and it will open the possibility of falling to $ 0.2000.
The post Dogecoin potential for higher prices appeared first on FinanceBrokerage.