The Dora Factory (DORA) crypto is on a recovery track. It is forming higher high swings and replicating buyers’ accumulation. The price action indicates the bottom fishing of the DORA crypto and gains momentum in the recent sessions. Amid a steep decline from the highs, Dora Factory is still a portfolio pick and may pick momentum soon. Despite the massive gap down moves from $1.80 to $0.020, the cryptocurrency is still under the vision of big players, and investors’ interest was witnessed.
The DORA crypto is trading above the 20-day and 50-day EMAs and is heading to claim the 100-day EMA level. The trend is recovering slowly & steadily and buyers are trying their best to lift the crypto again to the highs. However, the DORA price still needs a lot of upliftment to catch a glimpse of bullishness and is still suffering from low-volume buying activity.
This cryptocurrency’s price was $0.1555 at press time, with an intraday gain of 5.68%, showing recovery. Moreover, the trading volume increased by 5.94% to $977,237, highlighting accumulation. The pair of DORA/BTC was noted at 0.00000637 BTC, while the market cap is $1.86 Million. Analysts are neutral and suggest that Dora Factory may retest the 100-day EMA mark soon.
DORA on Hourly Charts Displays Rising Parallel Channel
On the hourly charts, the Dora Factory price is riding the gains and climbing above the key moving averages, replicating the buying momentum in the recent sessions. Furthermore, the price action signifies the follow-on buying momentum and the cryptocurrency will continue to spray the gains amidst the market volatility.
DORA on Daily Charts Exhibits Trend Reversal
On the daily charts, the Dora Factory price has surpassed the prompt hurdle of $0.1500 and is delivering bullish momentum in recent sessions. Additionally, the sharp pullback from the 20-day EMA gives the conviction that DORA crypto is ready to outperform the gains and will reach $0.2000 soon.
The Relative Strength Index (RSI) curve has reached the overbought zone and is forming a positive divergence indicating the bullish momentum. The MACD indicator shows a bullish crossover and formed green bars on the histogram. That suggests the outperformance will continue and DORA crypto will surpass the 100-day EMA mark soon.
Summary
The Dora Factory (DORA) price has persisted in gaining momentum and is targeting to surpass the make-or-break region of $0.2000. However, the sellers are in trouble and are covering their positions because of the sharp pullback. Furthermore, bulls need to stretch the up move toward the 100-day EMA mark, which will flip the trend from neutral to bullish.
Technical Levels
Support Levels: $0.1420 and $0.1200
Resistance Levels: $0.1680 and $0.1800
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Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
Source: https://www.thecoinrepublic.com/2024/01/24/dora-price-prediction-will-dora-stretch-reversal-to-0-2000/