Dogecoin price despite a couple of huge pullbacks, successfully sustains above $0.3 levels
The possibility of a massive jump after the current consolidation cannot be ruled out
Dogecoin price attempted to pump over $0.43 after a dreadful market crash. Yet woefully, the price revisited the lower levels around $0.24. No doubt the price bounced above $0.3 and ranged above $0.37, yet plummeted slightly. Moreover it maintained the similar trend above $0.3 since then.
Despite a couple of pullbacks, the price successfully sustained above these levels and at the press time has swelled to $0.31. Yet the price is steadily moving forward without forming any patterns. Hence the price may rally high once the price is done with the accumulation.
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Currently, DOGE price maintains a stable channel where-in price is trending at the upper levels of the channel. Despite a huge dip, the price failed to break the lower support levels of the channel. Hence increasing the probability of a massive uptrend approaching fast in the near future.
On the contrary, despite a slight dip in the current market capitalization, the trading volume has increased significantly by about 23.56%. This increased activity suggests the popularity of the asset has not diminished despite the crash or negative sentiments.
At the press time the DOGE price stands at $0.3139, heading strongly towards the upper levels of the channel at $0.34. Once the channel is broken, the price is expected to propel towards the resistance levels at $0.372. However, in the worst case, if the price flips to bearish trap, it may revisit lower levels below $0.3 around $0.29.