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The DOGE price appears to have completed the consolidation phase as it breaks the trending channel
The dogecoin price rally is expected to retest the upper resistance levels and therefore smash the ATH
Will DOGE Retest the ATH Again?
The dogecoin price rally was one of the most eyecatching moment with huge spikes recorded in the small time frame. The market sentiments were extremely bullish as the interpreted CEO Elon Musk also support the bull rally with his mentions. However, the price slipped into consolidation and awaiting a push for a breakout.
The price appears to have been poised to strike the highest levels from the beginning of the year. And hence rallied high to form ATH at $0.08. Further, it also smashed the levels above $0.06 and got rejected too. However, the price if retests the levels around $0.06 – $0.063, then new ATH is on the way as said by an analysts Elja Boom.
As per the founder and CEO of Ajoobz.com, the Doge price will retest and probably form a new one, if it breaks the strong resistance levels at $0.063.
Dogecoin Price Analysis
The DOGE trended in a very narrow zone after the spike, however, it attempted a couple of times to break the upper resistance but failed. Despite it failed to rally above the levels, the price also failed to break the lower support levels too. Hence eliminating the possibility of a steep price plunge.
At the time of writing, the dogecoin price is $0.05858 with a jump of 0.86% in the past 24 hours after rallying more than 6% in the past week. The RSI levels also showcase decent price movements that point out an uptrend.
- Currently, it is very important for the dogecoin price to smash the upper resistance levels at $0.063
- The support levels stand at $0.0571
- The indicators point out towards a ‘buy’ signal