Technical Analysis for DOGUSD for 24th March 2023
Dogecoin Consolidates with Rising Volumes, DOGE Adds 26%
Past Performance of DOGE
DOGE Technical Analysis
DOGE is up 26% from March lows, but prices are moving horizontally with limits at $0.078 and $0.070, respectively. The coin remains within a bear formation unless bulls break above $0.078 with expanding volumes. The only positive in the current formation is that the leg up is with expanding volumes, increasing the probability of a bullish breakout. In that case, the bear breakout of March 3 will be invalid, allowing traders to ride the emerging trend targeting $0.090. Any dump below $0.070 with such rapidity will likely cancel this bullish preview.
What to Expect from DOGE
DOGE remains in a consolidation though volumes are relatively higher. Though prices are also higher, the failure of bulls to push above $0.078 could suggest weakness. Still, it is until there is a clear trend definition above or below the current consolidation that traders can open positions, riding the trend.
Resistance level to watch: $0.078
Support level to watch: $0.070
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