Home Latest News Dogecoin price is positioned for a charge back to $0.11 – FXStreet

Dogecoin price is positioned for a charge back to $0.11 – FXStreet

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Tony M. Tony M.
FXStreet

Dogecoin price has begun an uptrend move mentioned in last week’s thesis. The next target of $0.11 has newer investors allocating some of their portfolios to the notorious dog coin.
Dogecoin price shows bulls are re-entering the market. The bulls have finally shown substantial retaliative effort since the massive decline that has taken place since May 12th. The DOGE price saw an erratic bullish spike into a high at $0.089 over the weekend. One more wave up is likely to occur if the technicals are correct. Traders should keep Dogecoin on their radars to participate in the next bull run.
Dogecoin price could continue with bullish momentum in the coming days and the Relative Strength Index provides confluence for this idea. The Relative Strength Index continues to climb higher while also maintaining support on the buyers’ 40 level after each profit-taking decline. The volume indicator also looks questionable in its own right and warrants the idea that there may have been a “changing of hands” from retail money to the institutional investors.
TM/DOGE/5/30/22
DOGE/USDT 4-Hour chart
Invalidation of the bullish scenario is still a breach and close below $0.069.
If the bears can conquer this level, they could continue the decline to $0.05, resulting in a 40% decrease from the current DOGE price.
 
 

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Bitcoin price has gone through turbulent times over the last few months. From reaching a new all-time high to hitting yearly lows and revisiting levels since 2020, the crypto markets have been extremely volatile.
Former BitMEX CEO Arthur Hayes addressed the liquidity crunch that has hit the crypto market. Hayes believes Bitcoin and Ethereum prices could bleed further and identified altcoins that have bullish potential in the bear market. 
XRP price has found support above key psychological level $0.30 after some positive developments in the Ripple vs SEC court saga.
TRON price seems to be consolidating after rallying exponentially since March 2020. This massive coiling up at the top seems to have formed a bearish pattern that indicates a correction is due for TRX.
Bitcoin price has gone through turbulent times over the last few months. From reaching a new all-time high to hitting yearly lows and revisiting levels since 2020, the crypto markets have been extremely volatile.
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