Price Analysis (Dogecoin)

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Dogecoin is also very likely to do a bullish run of its own, as we see the cryptocurrency market growing in the coming weeks.

Dogecoin is one of the cryptocurrency tokens that has been mostly influenced fundamentally, that is through news and tweets and this can be seen from the chat has there are always sudden surge in price and then major fall.

This has made it very difficult for crypto traders and analyst to give precise analysis on the token which has always thrived on external influences.

From the chart above though we can see that price has broken above a previous Resistance zone and also the 50 Exponential Moving Average (EMA), after which it starts lingering around the price zone of $0.243 and 0.248, from the technical setup price is looking to rise to the next Resistance level at $0.268 which is a major Resistance zone as the dogecoin price has been unable to break this level ever since the bullish run period started.

If price eventually breaks this major Resistance zone then a further upward movement to the $0.300 price level is very likely to occur.


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