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Breaking News: Bitcoin, Ethereum, And XRP In Freefall: What’s Driving The Current Crypto Slump?
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Breaking News: Bitcoin, Ethereum, And XRP In Freefall: What’s Driving The Current Crypto Slump?

Dogecoin Slowly Retests $0.06 As DOGE Is Seen Moving Higher Over The Next Days

Christian Encila
Christian Encila
3 years ago
2 mins read
Dogecoin

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Dogecoin (DOGE) price looks bullish with the $0.06 support maintaining its stance and could potentially reverse the market overnight.

  •         DOGE price analysis shows bullish momentum
  •         DOGE price up by 2.55%
  •         Dogecoin unable to hover lower as observed in the past few hours

DOGE/USD pair might revert and offshoot the $0.0625 key resistance and go higher in the coming days.

The general crypto market isn’t looking good and has been stuck in the red zone for the past 24 hours as a result of the increased selling activity.

Bitcoin has evidently dipped by 1.87% while Ethereum has lost by 0.86; and the rest of the crypto market is going down.

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Dogecoin Trading Volume Up 7.66%

According to CoinMarketCap, DOGE price is up by 2.43% or trading at $0.06196 as of this writing.

DOGE is seen to be slightly volatile as seen in the past 24 hours. In addition, Dogecoin trading volume has also been up by 7.66% while the total market capitalization is trading at roughly $8.14 billion, making it the 10th largest crypto in terms of market cap.

DOGE Shows Minimized Selling Pressure

The 4-hour chart for DOGE exhibits minimized selling pressure or activity which shows that the Dogecoin price could potentially revert and surpass $0.0625.

DOGE price is seen to be further dropping over the past couple of days but sellers lack the aggressiveness it once had, reaching only some of the lower lows.

Following DOGE’s recent spike, Dogecoin tested the key support at $0.060 support. DOGE price action has been observed to nosedive and unable to go below $0.060, which implies the formation of a double bottom reversal pattern.

With that being said, bullish movement should return to recover some of the losses incurred in the past week.

DOGE price analysis looks bullish as the market shows an inability to thrust lower after it has tested the support line spotted at $0.060.

With that in mind, DOGE/USD may go higher and retrace to its previous support spotted at $0.065 which is now set as the resistance zone.

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3 years ago

DOGE total market cap at $8.27 billion on the daily chart | Source: TradingView.com

Featured image from The Motley Fool, chart from TradingView.com
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Christian Encila
Christian Encila

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Read more

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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