Price Analysis

Is Dogecoin Price Ready To Surge Beyond $0.3?

Highlights

    Dogecoin price is showcasing a passive rally oflet as the price keeps on testing the lower lows frequently

    The price is expected to visit the strong support zones, little lower than the current levels before a huge leg up towards the resistance levels

The dogecoin price including the major cryptos is feared to plunge to much lower levels in the upcoming days. The rally could also undergo a decent uptrend after hitting the support levels. Yet the bull run appears very distinct as the DOGE price needs to yet again undergo yet another massive surge of more than 300% to 500%.

The doge price since the mid-may crash has followed a continued downtrend. The trend line was not broken upwards to validate a bullish trend. Yet minor jumps and pumps always kept the ecosystem active which appears to have faded of let. Moreover, the price is revisiting the levels much close to the strong support zone. 

Also Read: Dogecoin Price Is In An Unfavorable Position, May Slide Below $0.2 Levels!

dogechart (2)

Each time the price visits the support zone, it had bounced off with a decent margin. No doubt amid the bull rally, the price plunged to these levels only two times, yet a substantial bounce prevented further plunge. 

On the other hand, the price is trending within an ascending triangle where-in a considerable downtrend cloud be imminent. The breakout could lead the price close to the lower support levels for a bounce. Also, the volume has shattered completely nowadays and hence the asset has become less volatile. 

Therefore, despite the constant downtrend, yet the Dogeprice price has some hope of propelling towards the north. Yet a considerable boost is required from the bulls so that DOGE price bounces from the downtrend and validate a bull rally soon

Also Read: Bitcoin Price Compressing Again, Which Direction Will It Move After The Blast!

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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