The post Can DOGE Reclaim Bullish Territory? appeared on BitcoinEthereumNews.com.

Dogecoin price has been on a recovery after falling below a strong dynamic support of 200 day Exponential moving average. At the time of writing, the crypto was around $0.127, recording a positive intraday development of nearly 4.79%. The recent selloff has dragged the price below the recent support and multi month low of $0.128. However, the intraday surge may again push the price back in a bullish territory. Moreover, there has been a notable development in the weighted sentiment curve that points towards a continued recovery in the crypto.  Weighted Sentiment Curve Turns Bullish! The recent development in the Dogecoin price has been accompanied by similar development in the weighted sentiment curve. As per the data obtained from app.financial.net website, there has been a notable shift in the sentiment curves.  As per the chart, the positive sentiment has dominated due to which the weighted sentiment curve has shifted from bearish to bullish side. The improvement in the weighted sentiment curve indicates optimistic days ahead. Moreover, the weighted sentiment curve represents the current bias of the majority of investors. The growth in the weighted sentiment curve generally affects positively on the price. Can DOGE bulls Reclaim the 200 day EMA Back? Dogecoin crypto is recovering intraday and might end up adding more in the coming sessions. The growth in the price marks the bulls commitment to reclaim the price above the 200 day before the end of the week. With a daily transaction volume of $651.9 Million, it ranks 8th having a live market capitalization of $18.49 Billion. Now, if the bulls establish themselves near the recent support of $0.128, it may indicate a bullish reversal and the crypto may resume its way towards north.      On the higher side, the 20 day and 50 day may act as…

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Filed under: News - @ June 20, 2024 8:24 pm