Since it reached a low of $0.060 in relation to the US dollar, Dogecoin has been rising. If DOGE breaks through the $0.0640 resistance area, its upward trend may continue.
- In relation to the US dollar, DOGE began a respectable rise above the $0.0615 resistance.
- The price is trading above both the $0.062 mark and the 4-hour 100 SMA.
- On the DOGE/USD pair’s 4-hour chart (data source from Kraken), a significant rising channel with resistance near $0.0640 is developing.
- The resistance levels of $0.0638 and $0.0640 may be difficult for the price to overcome.
Here's an article from January 5, 2021 when AMC reached it's then all time low of $10.35.
Adam Aron stated AMC's situation in a nutshell saying, "since theaters closed and our revenue went to zero overnight."
AMC is now trading at a new all time low, $2.56 lower than the… pic.twitter.com/woR2eGSK2D
— Dade Murphy (@nakedjockman) September 7, 2023
Dogecoin Price Starts Recovery
The price of Dogecoin found support close to the $0.0595 region following a sharp fall. DOGE has begun a recovery wave and traded as low as $0.0591. The price made a respectable advance above $0.0600 and ended the day at $0.0612.
This report will take a look at where the price of dogecoin would realistically be if the meme coin’s market cap were to reach the current market cap of bitcoin or ethereum.
— Taevion Primm (@PrimmTaevion) September 19, 2023
Recently, Bitcoin steadily rose beyond $27,000, aiding the comeback of cryptocurrencies. Dogecoin is also displaying some promising traits and was successful in breaking through the $0.062 resistance. The bearish movement from the $0.0685 swing high to the $0.0591 low saw a move above the 23.6% Fib retracement line.
DOGE is currently trading above both the 100 simple moving average (4 hours) and the $0.062 level. The price is meeting resistance near the $0.0638 level on the upside. It is not far from the level of the 50% Fibonacci retracement of the decline from the $0.0685 swing high to the $0.0591 low.
The first significant barrier is located close to $0.0640. On the DOGE/USD pair’s 4-hour chart, a significant rising channel with resistance near $0.0640 is also developing.
The price may move toward the $0.0670 resistance if the $0.0620 level is closed above. Near $0.0685 is the next significant resistance. The price may move toward the $0.072 mark if there are any further gains.
Are Dips Supported in DOGE?
DOGE’s price may begin a downward decline if it is unable to increase momentum above $0.0640. The initial level of support for the downside is close to $0.0620.
Onchain is going to get rekt IMO. All of you apes are going to get rinsed when $BTC dips.
I’ve scanned hundreds of charts and most of them look like they’re headed straight to goblin town.
Too many bag holders for price to break out and recover.$audo $raven $dark $dmt pic.twitter.com/oz7enJs4od
— 0xFrito (朋友 , 敌人) (@FritoBaggins2) September 19, 2023
The next significant support is close to the $0.060 mark. The price may drop even more if there is a downward break below the $0.060 support. In the hypothetical situation, the price may drop to approximately $0.0565.
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