Convergence

Memecoin

Dogecoin

Divergence

The post <a href="https://coinpedia.org/price-analysis/dogecoin-breaks-out-of-its-key-level-will-doge-price-hit-0-1-soon/" rel="noopener noreferrer nofollow">Dogecoin Breaks Out Of Its Key Level! Will DOGE Price Hit $0.1 Soon?</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
The crypto industry has displayed a positive uptrend as the market has witnessed a jump of approximately 2% in value. This resulted in the leader of the Memecoin gaining over 4% in its value within the past day and reclaiming the $0.08 mark.
<a href="https://coinpedia.org/price-prediction/dogecoin-price-analysis/" rel="noopener noreferrer nofollow">Dogecoin price</a>, recently broke out of its important level at $0.08035, indicating an increasing bullish sentiment in the market. This could further result in the price recording a massive price jump in the coming days.
<h2 class="wp-block-heading" id="h-doge-coin-price-action">DOGE Coin Price Action:</h2>
Dogecoin price started the month of November trading in a consolidated range between $0.06660 and $0.06931. Following the market pump, the price gained momentum, broke out of the range, and recorded a jump of 10% in value before getting rejected at $0.07648.
Following this, the leader of memecoins traded sideways for a while. After multiple failed attempts, the price successfully broke out of the upper level, but the rally was short-lived as the bulls lost momentum at $0.08035.
The price recorded a drop of 10% and retested its crucial support level of $0.07250, but the bulls held the price strong, resulting in the price regaining momentum and recording a high of $0.08678 for the first time since April.
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/qH-B1YKtT5r_2uWW_wcl1-HIrbJhXnxL8jcyH5y2Ff9j76rjVl4dq1AlTl3bicanV1IbqCEa09MbNrhfT26oekXJuCino-oeGjEJsGemKC7EjdNOpueILSYKnH4qDmJ6TWKaLpQQj0EdqCnW10Wg21c" alt="Dogecoin Price Analysis">
 <figcaption class="wp-element-caption">
 TradingView: DOGE/USDT
 </figcaption>
</figure>
Following this, the price started trading under a bearish influence and experienced a loss of over 13% over the next five days. After retesting its crucial support level, the price witnessed a jump of 5%.
Since then the price made multiple attempts to break out but failed and has been trading in a consolidated range between $0.07648 and $0.08035. Recently, the price successfully broke out of the range but has been hovering close to the level.
The Moving Average Convergence Divergence (MACD) displays a strong green histogram, indicating a bullish influence in the market. Further, the averages show a rising pattern, suggesting the price will experience a jump of 8% in the coming week.
<h2 class="wp-block-heading" id="h-will-the-doge-price-hit-0-1-this-year">Will The DOGE Price Hit $0.1 This Year?</h2>
If the bulls hold the price above the support level of $0.08035, the DOGE price will continue to gain momentum and prepare to test its resistance level of $0.08393 soon.
Maintaining the price at that level will set the stage for Dogecoin to attempt to test its upper resistance level of $0.08678 by the week ahead.
Conversely, if the bears pull back the Dogecoin price below the resistance level of $0.08035, the memecoin will continue trading in a consolidated range and test its support level of $0.07648 soon.
Moreover, if the bulls fail to hold the price at that level, it will lose momentum and fall to test its lower support level of $0.07250 in the coming days.

Dogecoin Breaks Out Of Its Key Level! Will DOGE Price Hit $0.1 Soon?

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