Why A Retest Of $0.48 Is More Important Than Anything
The post Why A Retest Of $0.48 Is More Important Than Anything appeared on BitcoinEthereumNews.com.
Este artículo también está disponible en español. The Dogecoin price journey toward the coveted $1 mark has been a topic of interest for crypto enthusiasts and traders alike. Reaching $1 would solidify Dogecoin into a new psychological threshold and into new all-time high prices. However, there have been differing perspectives as to how and when this would happen. A technical analysis on the TradingView platform suggests that the Dogecoin price may encounter resistance at $0.48, experience a decline, and then resume its upward trajectory towards $1 and beyond. Dogecoin Price Could Reject At $0.48 Dogecoin is currently trading below the $0.48 mark, but technical analysis has pointed to a notable resistance situated around this price level. According to the Dogecoin price analysis of the 4-hour candlestick timeframe, the $0.48 price level is one to watch. Related Reading This is because the Dogecoin price has yet to exhibit a notable break above this price level throughout the current bull market cycle. Particularly, the rally has been highlighted by two rejections just below the $0.48 price level, with the highest Dogecoin price so far being $0.475 on November 23 and December 8. The analyst points out that the Dogecoin price recently experienced a solid bounce from the 200EMA on a 4-hour timeframe. This bounce signifies that the bulls are still in control, as the price continues to show resilience against downward pressure. The confluence of support at the 200EMA with bullish momentum provides a foundation for Dogecoin’s upward movement, setting the stage for the anticipated test of the $0.48 level. Interestingly, Dogecoin’s inability to break above $0.48 yet has seen the price level being regarded as the zone of liquidity. The TradingView analyst emphasizes that this level remains a focal point, predicting that Dogecoin is likely to face another rejection at $0.48. Such…
Filed under: News - @ December 12, 2024 7:27 pm