Dogecoin price with a significant upswing has been able to reach beyond $0.065 after consolidating heavily around $0.059 since the early trading hours. The sudden upward swing appears to have recovered the losses incurred in the last seven days gaining strong bullish momentum. Now when Bitcoin prices appear to have stabilized above $21,000, the popular altcoins are also expected to rise high including the DOGE price.
The sudden increase in the price, interestingly, was not due to any mentions by Tesla CEO Elon Muck. Therefore, the gained levels are expected to prevail for long while the asset may plan for the next price action. Presently, the bears have jumped in action but with fewer possibilities of a massive sell-off, the price could maintain a significant uptrend.
Also Read: Major Bull Trap Ahead ! Here’s What Next For Bitcoin (BTC) and Ethereum (ETH) Price
As clearly seen in the above chart, the DOGE price is following a significant uptrend along the trend line. Therefore, even if the bears grow strong and try to drag the price down, the asset may not drop back to the lower trend line. The price could drop slightly but maintain $0.63 levels and quickly rebound to test the upper resistance at $0.7.
It is quite interesting that Dogecoin’s price rose high without any mention from its interpreted CEO, Elon Musk. Each time, the CEO tweets about the asset, the DOGE price spikes high gaining more than 15% to 20%. Woefully, all the gains squeeze quickly in the next couple of hours, dragging the price to its initial levels.
In contrast, the present jump appears more organic and is deeply influenced by the present market trends. Therefore one can expect minor corrections and negligible pullback, which may further induce a catapult action enabling the price to move higher. Collectively, the current market trend suggests significant upward price action is much in place with Dogecoin(DOGE) price ahead.
Also Read: Analysts Expect Shiba Inu Coin Price To Surge 40X! Is SHIB Still The Altcoin To Bank?
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Source: https://coinpedia.org/price-analysis/dogecoin-is-making-a-larger-move-will-doge-price-regain-0-1-levels-before-days-end/