Dogecoin Price Weekly Analysis – Upside Thrust Likely

Key Highlights

  • Dogecoin price is showing a lot of positive signs, and it all goes well there is a possibility of it gaining traction.
  • There was a crucial bearish trend line formed on the 4-hours chart (data feed from HitBTC), which was broken recently to open the doors for more gains.
  • The price is currently trading near the 100 simple moving average on the 4H timeframe, and if it is cleared a move towards 70.0 Satoshis is possible.

Dogecoin price broke a major resistance area this past week. It has increased the chances of it gaining ground during the upcoming week.

Upside to Continue?

Dogecoin price looks like formed a short-term base near the 50.0 Satoshis support area, and appears set for more gains in the days to come. There was a major break noted this past week in the form of a bearish trend line formed on the 4-hours chart (data feed from HitBTC). The price cleared the trend line and resistance area and closed the week above it.

The price is currently struggling to break the 100 simple moving average on the 4H timeframe, and if during the coming sessions the bulls manage to clear it, then a move towards the

Read more ... source: NewsBTC USA

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