{"id":4564,"date":"2021-06-25T14:53:29","date_gmt":"2021-06-25T13:53:29","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=4564"},"modified":"2021-06-25T14:53:38","modified_gmt":"2021-06-25T13:53:38","slug":"dogecoin-breaks-above-crucial-resistance-a-hope-for-a-higher-price","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/dogecoin-breaks-above-crucial-resistance-a-hope-for-a-higher-price\/","title":{"rendered":"DOGECOIN breaks above crucial resistance: a hope for a higher price"},"content":{"rendered":"\n
Dogecoin<\/a> price has recovered from a previous dip on June 21.\u00a0DOGE has had its own good and bad days since the beginning of the year.<\/h5>\n\n\n\n
\"DOGECOIN<\/figure><\/div>\n\n\n\n

On June 21, the price of Dogecoin plummeted, leaving a giant red candle in its wake, erasing any prospect of reversing a period of underperformance.<\/p>\n\n\n\n

DOGE, on the other hand, has now rebounded from its steep drop, indicating that the bulls' interest is growing.
Since June 2, the price of Dogecoin has been trading within a topside descending trend line.<\/p>\n\n\n\n

DOGE's negative outlook has been trapped by this resistance trend line, as the meme-based\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> coin has continued to record lower highs and lower lows on the daily chart.<\/p>\n\n\n\n

While the price of Dogecoin has been under constant selling pressure since early June, the precipitous drop was sparked when DOGE failed to maintain trading above the 100-day Simple Moving Average (SMA), which has served as support since November.<\/p>\n\n\n\n

On June 21, a break below this critical line of defense resulted in a 42 percent drop, marking the lower barrier of the demand zone at $0.162.<\/p>\n\n\n\n

Dogecoin's price appears to be on the rise, printing its fourth consecutive green candle on the daily chart, spurred by optimistic mood as DOGE engineers roll out a major network upgrade.<\/p>\n\n\n\n

DOGE<\/a> has broken through the declining resistance trend line that has held the meme coin hostage for nearly a month, as well as the 38.2% Fibonacci extension level of $0.271.<\/p>\n\n\n\n

\"\"
DOGE\/USDT daily chart. Source: Trading View<\/figcaption><\/figure>\n\n\n\n

Investors should also take note that the price of Dogecoin has risen over the 100-day SMA; nevertheless, only a daily closure above this level would indicate continued bullish momentum.<\/p>\n\n\n\n

On the June 24 candle, the Momentum Reversal Indicator (MRI) also displayed a buy signal, supporting the bullish thesis.<\/p>\n\n\n\n

To increase the chances of DOGE achieving the 50% Fibonacci extension milestone at $0.305, the price must remain above the 100-day SMA and the diagonal trend line.<\/p>\n\n\n\n

If this next goal is met and held as support, the canine-themed coin's larger aspirations for the 50-day SMA should not be ruled out.<\/p>\n\n\n\n

DOGE is anticipated to retest the 38.2 per cent Fibonacci<\/a> retracement level before falling toward the start of the demand barrier at $0.229, which coincides with the 23.6 per cent Fibonacci retracement level if it fails to close above the 100-day SMA and retreats from the current uptrend.<\/p>\n\n\n\n

If Dogecoin fails to hold the aforementioned important support levels, the price will be locked below the descending resistance level, consolidating until a strong upside release develops.<\/p>\n","protected":false},"excerpt":{"rendered":"

Dogecoin price has recovered from a previous dip on June 21.\u00a0DOGE has had its own good and bad days since the beginning of the year. On June 21, the price of Dogecoin plummeted, leaving a giant red candle in its wake, erasing any prospect of reversing a period of underperformance. DOGE, on the other hand, […]<\/p>\n","protected":false},"author":12,"featured_media":4566,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[81,25,21],"tags":[157,886],"class_list":["post-4564","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoin-news","category-market-analysis","category-news","tag-dogecoin","tag-price"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/06\/image-29.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/4564","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=4564"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/4564\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/4566"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=4564"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=4564"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=4564"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}