- Dogecoin price continued to consolidate in a range as highlighted yesterday and waiting for a break in the near term.
- 0 Satoshis is still a major support area which holds the key for the next move.
- On the upside, a break above 68.0 Satoshis is needed for buyers to take control.
Dogecoin price looks set for the next move, but it needs a break either higher or lower to gain momentum.
As mentioned in yesterday’s post that the Dogecoin price spiked two time above 80.0 Satoshis, but failed to sustain gains and started a consolidation phase. There is a major support building around 64.0 Satoshis, which is acting as a catalyst for the price. Buyers were seen aggressive around the mentioned areas, as every time the price tested the stated level there was buying interested noted. The price is consolidating as of writing and trading near the 100 hourly simple moving average.
As long as the price stays above 62.0 Satoshis there lies a chance of it breaking higher. There is a resistance forming around the 23.6% Fib retracement level of the last drop from