Doge Has Posted a Substantial Gain Since Yesterday

Doge has posted a substantial gain since yesterday, following a slight bounce. However, it looks poised for a retracement but is yet to chart gains today.

Doge price is yet to chart gains today as it is poised for a retracement after a slight bounce saw it post a substantial gain since yesterday.

Doge went through a serious breakdown last week and charted a double-digit loss. However, it later managed to round up the week on a strong note after a bounce back from a low of $0.183.

The primary meme coin encountered resistance and crossed into the new week bearish. It lost momentum but later reestablished support above the recent low due to a rejection. This led to a bounce and is now looking poised for a buy following a notable increase in the last 24 hours.

A retracement movement is slowly underway. However, Doge’s bearish swing is still intact on the daily chart following a lower low and lower high movement from its peak level of $0.49.

The potential retracement movement should bring a slight relief. Failure to push higher could bring another impulsive movement in the form of a lower low.

This could lead to an extension of the bearish swing, which might cause another serious bleeding in the mid-term.

While the bulls are yet to gain control of this market, the price must climb back above the previous monthly high before considering a shift in the trend. Having lost 52% in 90 days, Doge is currently indecisive.

DOGE’s Key Level To Watch

Source: Tradingview

There has been little-to-no movement since the start of today. A surge from the current trading level could bring a retest at $0.24. Higher levels for a retracement are $0.305 and $0.4.

Towards the downside, the $0.183 level is providing support. A crack from there may cause another roller coaster to $0.16 and maybe $0.13.

Key Resistance Levels: $0.24, $0.305, $0.4

Key Support Levels: $0.183, $0.16, $0.13

This Is Not Financial Advice

The content provided in this article is intended to be neutral and objective, and it's not to be considered as financial advice. Readers are advised to conduct their own research before investing in any cryptocurrency or engaging in any services.

Any investment in cryptocurrency carries inherent risks, and the value of assets can fluctuate. Past performance is not necessarily indicative of future results.

Readers are urged to use the information at their own discretion and to consult with a qualified financial advisor with any specific questions they may have.

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