Technicals Suggest DOGE’s Price May Continue Its 24-Hour Rally

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Technicals Suggest DOGE’s Price May Continue Its 24-Hour Rally

The largest meme coin by market cap, Dogecoin (DOGE), was able to print 24-hour price gains as the majority of cryptos in the market print losses over the same time period. According to CoinMarketCap, the price of DOGE is up 4.46%.

This 24-hour gain has also flipped its weekly performance into the green at +3.26%. DOGE’s price stands at $0.09267 at press time as a result.

Compared to the two crypto market leaders, Bitcoin (BTC) and Ethereum (ETH), DOGE’s price has strengthened against both. At press time, DOGE is up 8.53% against BTC and 8.81% against ETH.

Technicals Suggest DOGE’s Price May Continue Its 24-Hour Rally

DOGE/USDT 4-hour chart (Source: CoinMarketCap)

The 4-hour chart for DOGE/USDT shows that the meme coin’s price has broken above the upper bound of the consolidation channel of $0.08397 and $0.09086. This follows after DOGE’s price entered into a short-term bullish rally, which took its price from a low of $0.08450 to a high of $0.09101.

The bullish pump has also caused the 9 EMA to cross bullishly above the 20 EMA line on DOGE’s 4-hour chart. In addition to this, the 4-hour RSI indicator has also flagged bullish, with the RSI line crossing above the RSI SMA line.

DOGE’s price is now trading at the 4-hour resistance level at $0.09505 as the market waits in anticipation for the JOLT’s Job Openings announcement that will be made tomorrow. Technical indicators on the 4-hour chart for DOGE suggest that the price of DOGE will break above the aforementioned resistance level in the coming 24 hours.

Disclaimer: The views and opinions, as well as all the information shared in this price prediction, are published in good faith. Readers must do their research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.


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