- DOGE’s potential rebound could lift the price to $0.13 if bearish dominance drops.
- An analyst predicted that a breakout of the descending triangle could send DOGE toward $10.
- The Supertrend flashed a buy signal at $0.083, suggesting a major relief in the short term.
Dogecoin (DOGE) formed an asymmetrical triangle on the daily chart, underscoring how bulls have been trying to keep the price above $0.090. However, the attempts by bulls have been unsuccessful as bears tugged back the price.
The asymmetrical triangle formation suggests that a breakout could be ahead for DOGE. But before the potential rally, DOGE’s price might slide. At press time, the price of the cryptocurrency was $0.084.
Bulls and Bears Battle It Out
Indications from the Relative Strength Index (RSI) signaled a drop in bullish dominance. Should the RSI reading drop below 50.00, then DOGE might decrease to $0.080. However, bulls would likely try and drive the price upwards.
For instance, if bears tug back the price, Dogecoin could slip to $0.0823 where the 0.236 Fibonacci retracement was located. If the price rebounds from this level, DOGE could start an uptrend to $0.133 where the…
The post Here’s Why Dogecoin’s (DOGE) Price Can Hit $10 In the Bull Run appeared first on Coin Edition.
Source: https://coinedition.com/heres-why-dogecoins-doge-price-can-hit-10-in-the-bull-run/