Dogecoin Rebounds Above $0.11 Support, Poises To Reclaim $0.12 High
Login

Dogecoin Rebounds Above $0.11 Support, Poises To Reclaim $0.12 High

Estimated Reading Time: 3 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

Key Resistance Levels: $0.45, $0.46, $0.47
Key Support Levels: $0.25, $0.20,$0.15

DOGE/USD Long-term Trend: Bearish
Dogecoin’s (DOGE) price is in a downward correction as it poises to reclaim $0.12 high. Today, the altcoin is making an upward move to retest or break above the moving averages. Since February 28 rally and rejection, the cryptocurrency has been in a downward move as it broke below the crucial support at $0.12. Today, if the altcoin turns from the moving averages, it will further decline to the low of $0.10. Meanwhile, the crypto has continued its upward move.

Dogecoin Rebounds Above $0.11 Support, Poises To Reclaim $0.12 High
DOGE/USD – Daily Chart

Daily Chart Indicators Reading:
The recent upward move has pushed the altcoin to level 42 of the Relative Strength Index for period 14. The altcoin is in the downtrend zone and below the centerline 50. DOGE price is below the moving averages which makes it prone to fall. The 21-day line and 50-day line moving averages are pointing southward.

DOGE/USD Medium-term bias: Bullish
On the 3 – hour chart, the DOGE price has broken above the moving averages as the altcoin resumes upward. The upward move has reached the overbought region. Meanwhile, on March 16 uptrend; a retraced candle body tested the 38.2% Fibonacci retracement level. The retracement indicates that DOGE will rise to level 2.618 Fibonacci extension or $0.1239.

Dogecoin Rebounds Above $0.11 Support, Poises To Reclaim $0.12 High
DOGEUSD3 Hour Chart.png

3-hour Chart Indicators Reading
The altcoin is above the 70% range of the daily stochastic. It indicates that the market is in a bullish momentum. However, the market is approaching the overbought region.

General Outlook for Dogecoin
Dogecoin has resumed its upward move as it poises to reclaim $0.12 high. The altcoin will reclaim the $0.12 price level if the bulls break above the moving averages. Also, the bullish momentum is sustained above the moving averages.

You can purchase crypto coins here: Buy LBlock


Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing result

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News