Top Analyst Reveals Dogecoin Entry Points, Warns DOGE Might Face Selling Pressure to These Levels
In this in-depth exploration of Dogecoin trading opportunities, let us delve into the technical analysis shared by Un trade on Tradingview. We’ll dissect key support and resistance levels, providing you with a roadmap to navigate the volatile crypto market.
At present, Dogecoin is poised for a correction up to the $0.074 to $0.076 levels. This zone presents a golden opportunity for traders seeking to initiate a long position. Dogecoin, with its dynamic community and escalating popularity, offers potential short to medium-term gains. This vibrant community is a testament to Dogecoin’s appeal, making this entry point a potentially profitable venture.
As Bitcoin took a hit today falling below $29,000, Dogecoin might face an uptick in selling pressure. This could drive the price down to the $0.064 to $0.065 levels, an attractive entry point for long-term investors. This dip would allow savvy investors to accumulate DOGE at a bargain, making it an appealing proposition for those with a long-term investment horizon.
As previously reported, BTC has plummeted its support level of $29k, and Ethereum has also plunged from its support level of $1,850. This development may have implications for other altcoins, given the historical tendency for these cryptocurrencies to be influenced by the performance of BTC and ETH, particularly over extended periods.
As Dogecoin rides the wave of upward momentum, traders should keep an eye out for profit booking opportunities. The $0.095 level aligns with a pivotal trendline, marking a third re-test. This strengthens its significance as a resistance level, making it a prime spot for traders to consider taking profits.
In conclusion, Dogecoin presents enticing buying opportunities between the $0.074 to $0.076 levels. An alternative entry zone lies within the $0.064 to $0.065 range, particularly as Bitcoin faces a significant downturn. For profit booking, the $0.095 level is a key area to watch, as it coincides with a critical trendline re-test.
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Show more +As of the latest data, the live Dogecoin price stands at $0.07697 with a 24-hour trading volume of $390,087,142.40. Dogecoin is down by 2.5% in the last 24 hours. This real-time data provides a snapshot of DOGE’s current market performance, offering valuable insights for potential investors and traders.
Remember, the crypto market is highly volatile and investments should be made based on thorough research and risk assessment.
