The cryptocurrency market is buying and selling positively in the mean time, and that might see DOGE break previous the $0.25 level over the approaching hours.
The cryptocurrency market has shaken off latest bearish tendencies and has been buying and selling within the inexperienced over the previous 24 hours. Bitcoin is up by over 2% and is seeking to break previous the $35k resistance level.
Bitcoin’s rally has sparked different cryptocurrencies, with Dogecoin additionally up by 1.3% previously 24 hours. The final market’s rally might proceed this week, and that will permit DOGE to interrupt the $0.25 resistant degree within the coming hours.
It comes as no shock that #BTC is all of a sudden having fun with a surge in value simply earlier than the Weekly Shut
Over the previous few weeks, $BTC threatened to lose its Increased Low many instances, solely to reclaim it earlier than the Weekly Shut
— Rekt Capital (@rektcapital) July 11, 2021
DOGE value outlook
Dogecoin stays one of many main cryptocurrencies and one of many prime performers over the previous 24 hours. After resisting a bear motion in direction of the $0.20 mark, the bulls have been capable of push its value larger, and DOGE is now buying and selling at $0.22 per coin.
The DOGE/USD pair might be shifting in direction of the 100-day easy shifting common at 0.2377. A rally previous the 100-day SMA might give Dogecoin the required momentum to surpass its 7-day excessive of $0.2499.
The general Dogecoin value motion trades with a bullish momentum in the mean time. The cryptocurrency is recovering from the losses sustained over the previous week, the place it dipped from the $0.25 mark. The decline got here regardless of Elon Musk claiming that Dogecoin would do a greater job as a fee foreign money than Bitcoin and Ether.
DOGE/USD chart. Supply: Coinalyze
Reminder: The Dogecoin replace is coming quickly! It’ll place Doge completely to develop into one of the vital used currencies on the planet.
— Matt Wallace ⚠️ (@MattWallace888) July 9, 2021
In the meanwhile, DOGE’s MACD line is within the bullish territory whereas its 14-day RSI is nearer to the OB area, indicating that the cryptocurrency’s buying and selling sample is constructive and its value might soar larger.
Nonetheless, with the broader market nonetheless in a bearish tone for the previous few weeks, the bears may regain management once more. In the event that they do, then the DOGE/USD pair might slip beneath the 0.20 assist. Any transfer in direction of the $0.20 mark might see DOGE uncovered to the $0.15 area, which was final seen on 21 June.