In our last Dogecoin forecast, we wrote that the Dogecoin price is likely to drop to $0.05 next, since it broke the support of $0.10, very likely. That’s where the next support was. So it happened and the course tested the support of $0.05. After the price has tested the $0.05, it has risen slightly and was able to form a high of about $0.0785. But how could the Dogecoin price continue after it has again dropped to $0.06? Could the price form an uptrend? We at CryptoTicker will inform you about the necessary events for an uptrend!
What level does the Dogecoin course have to hold?
DOGE/USDT Goldenpocket
The Dogecoin price managed to recover and was able to form a high of about $0.0785. After this high was formed, the course crashed. However, this crash was not necessarily negative. The Dogecoin price was able to reach the GoldenPocket of the last upward movement. If this GoldenPocket holds in the next few days, the price could form an uptrend in the near future. Due to this short-term uptrend, the price could rise by about 30%. However, after that we see a price crash again, since there is a resistance there ($0,079). It is very unlikely that the Dogecoin price will form a sustainable uptrend. However, a trend reversal could occur in about 7 months, which is why you should keep your eyes open.
Will Dogecoin hold the Goldenpocket?
The entire crypto market is in the middle of a descent. The US released the inflation figures yesterday. These have never been as high as in 1981. The current inflation is 9.1%. Of course, this news also has a negative impact on the crypto market, which is why some cryptocurrencies fell sharply at 14:30 yesterday. Due to this, we do not assume that the Dogecoin price will keep the GoldenPocket sustainable and form an uptrend.
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