Dogecoin (DOGE) rose to around $0.098, moving near the important $0.10 level as the larger cryptocurrency market showed signs of stabilization.
The price increase comes after many days of slow recovery in major digital assets, with traders closely watching the meme-based cryptocurrency as it approaches a key resistance zone.
Market data reflects that DOGE briefly traded near $0.10, with intraday highs touching slightly above the level before experiencing minor pullbacks. The token’s price action reflects renewed trading activity and increased interest among market participants following recent market volatility.
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Dogecoin’s Market Activity and Recent Price Movement
According to the data given by CoinMarketCap, at the time of writing, the coin is trading at $0.09815 with a 3.71% increase in rate. The daily trading volume of the token is around $1.96 billion, and the market cap of the coin has exceeded $16.59 billion.
DOGE’s price chart reveals the upward momentum, and it could climb toward the resistance (blue) at around $0.10029. Assuming the bullish pressure strengthens, the golden cross might emerge and send the price up to test the $0.10500 range.
If a reversal occurs, the bears might push down the coin’s price to the support (yellow) at $0.09655. In case the downside correction gains more traction, the death cross could form, and likely drive the asset’s price to a low of $0.9600 or even lower.
The relative strength index (RSI) shows DOGE being over-bought as the RSI line is above the 50 median. The moving average convergence divergence (MACD) indicator shows the coin experiencing a bullish momentum as the MACD line (blue) is above the signal line (orange).
The pivot points have established the support levels at $ 0.09250, $ 0.09028, and $ 0.08873. The resistance levels of the token are at $ 0.09627, $ 0.09782, and $ 0.1000.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
Also Read: Dogecoin Mirrors 2021 Cycle: Could DOGE’s Next Cycle Ignite a $5 Rally?
