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Will Cards break through Rebound to $0.39?
Will the continued recovery of Dogecoin trigger a breakthrough Rebound this weekend, pushing the price above the key level of $0.3900?
During the rapid recovery of the cryptocurrency market in the past few hours, the market value of Dogecoin has soared from $94 billion to the current $97.38 billion. With the increase in buying pressure on Dogecoin, it has started to move again.
The market value of Dogecoin has increased by 13% in the past 7 days, reaching $47.15 billion. With the increasing possibility of a rebound at the end of the year, will Dogecoin break through?
Dogecoin Price Analysis
On the 4-hour chart, the price trend of Dogecoin shows an increasing bearish impact. After failing to break through $0.4842, a lower high was formed, keeping Dogecoin below the trendline resistance. This has resulted in three bearish reversals.
In addition, the correction phase resulted in a death cross between the 50 and 200 period SMAs, and a bearish cross between the 100 and 200 period SMAs. This arrangement of SMAs is bearish on the 4-hour chart.