Technical Analysis for DOGUSD for 8th February 2023
Dogecoin Consolidating, DOGE Must Break Above $0.098
Past Performance of DOGE
DOGE Technical Analysis
Dogecoin is bullish, finding support at $0.067. Still, based on the DOGE technical formation in the daily chart, prices may recover, printing higher once there are substantial gains above $0.098, a critical resistance line marking January 31 high. Note that prices, in the short term, are bound between $0.098, marking the bullish engulfing bar of January 31, and $0.088 and the middle BB. From an effort versus result perspective, buyers will have the upper hand if the breakout above $0.098 is with expanding volumes. In that case, DOGE could rally to $0.11, in a bullish continuation formation.
What to Expect from DOGE
The short-term trend depends on if DOGE prices break out from the immediate consolidation. Confirmation of the January 31 bar may see the coin tearing higher to retest immediate resistance levels.
Resistance level to watch: $0.098
Support level to watch: $0.11
Disclaimer: Opinions expressed are not investment advice. Do your research.
This website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation.
CryptoAltum does not accept any clients under the age of 18.