The crypto space has displayed a strong bullish sentiment in the market as the industry has been constantly gaining momentum and recording new higher highs frequently.
Memecoins have gained significant momentum as top coins display massive price movements. Category leader, DOGE Price has gained over 8% in value within the past day, making it one of the top gainers in the industry.
The Dogecoin price was seen trading in a closed space between $0.05733 and $0.06148 for a brief period, following which the market gained momentum and the price surged.
During the market pump, Dogecoin added over 40% in value, resulting in major memecoins experiencing massive price jumps. Following the pump, the price lost momentum and was seen trading sideways.
November started positively as the price of the Doge coin added over 30% in its value within the first half of the month. The price recorded a high of $0.08035, following which it experienced a massive plunge.
After retesting its lower level of $0.07250, the bulls gained momentum and are presently hovering around its key resistance level of $0.08035, and it is expected to retest soon.
The Moving Average Convergence Divergence (MACD) displays significant price volatility since the month’s start, indicating an ongoing massive price action for the coin. Further, the averages show a rising pattern, suggesting the price to continue gaining value in the coming days.
If the bulls manage to hold the price above the level of $0.0803, the price will continue to gain momentum and prepare to test its upper resistance level of $0.08393. Maintaining the price at that level would set the stage for the price to test its upper level of $0.0950 in the coming time.
If the bulls manage to hold momentum, the dogecoin price will make a run to test its upper level of $0.1 in the week ahead.
Conversely, if the bears overpower the bulls, the price will lose momentum and prepare to test its support level of $0.07648 soon.
Moreover, if the bears continue to dominate the market, the price will continue losing momentum and fall to test its lower support level of $0.07250 in the coming weeks.
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