Test

Bitcoin

Dogecoin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/dogecoin-faces-a-challenging-test-in-the-volatile-crypto-market/" data-wpel-link="internal">Dogecoin Faces a Challenging Test in the Volatile Crypto Market</a><br></p>
<p style="text-align: justify"><strong><a href="https://coin-turk.com/abd-sec-dava-acar-mi-dogecoin-doge-menkul-kiymet-mi" data-wpel-link="internal">Dogecoin</a></strong>, has recently experienced a noticeable recovery against the dollar. Starting from the level of $0.1220, <a href="https://en.coin-turk.com/dogecoin-technical-analysis-overview/" data-wpel-link="internal">DOGE</a> is trying to gain upward momentum, and it must pass a test by breaking through significant resistance levels to trigger an increase toward $0.200. So, what does this test include for DOGE?</p> 
<h2 style="text-align: justify" id="volatility-proves-to-be-a-tough-test-for-dogecoin">Volatility Proves to Be a Tough Test for Dogecoin</h2> 
<p style="text-align: justify">The volatility in the cryptocurrency markets indicated a challenging period for <a href="https://en.coin-turk.com/elon-musks-legal-battle-with-dogecoin-investors-takes-a-new-turn/" data-wpel-link="internal">Dogecoin</a> as well. However, a solid base formed at the support level of $0.1220. DOGE, along with leading cryptocurrencies such as <a href="https://coin-turk.com/bitcoin-ve-kriptoyu-onumuzdeki-3-gun-boyunca-bekleyenler" data-wpel-link="internal">Bitcoin</a> and <a href="https://coin-turk.com/unlu-isimden-heyecanlandiran-bitcoin-ve-ethereum-tahmini-ralli-devam-edecek-mi" data-wpel-link="internal">Ethereum</a>, has recently initiated a strong recovery wave.</p> 
<p style="text-align: justify">Currently, a significant breakout occurred on the 4-hour chart of the DOGE/USD pair, and momentum was observed above the $0.1310 resistance level. However, Dogecoin is still trading below the $0.1650 level and the 100 simple moving average, posing a barrier to short-term gains.</p> 
<p style="text-align: justify">Upon evaluation, Dogecoin needs to rise above the $0.160 level and, more importantly, surpass the $0.1650 resistance. In this case, we could see DOGE embark on a journey towards the $0.1850 target.</p> 
<p style="text-align: justify">However, for a larger gain, a resistance around $0.200 needs to be broken. If Dogecoin can surpass this level, a move towards higher levels like $0.220 could be possible.</p> 
<h2 style="text-align: justify" id="potential-downward-movement-for-doge">Potential Downward Movement for DOGE</h2> 
<p style="text-align: justify">If DOGE’s price fails to gain momentum above the $0.160 level, it could enter a downtrend. In this case, the first support point for the downward movement would be around $0.1450. However, if a deeper decline occurs, the next critical support level is determined to be around $0.130. If a breakdown occurs below this level, the price could fall further. In this scenario, DOGE’s price could drop to as low as $0.1150.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-331104 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/03/doge-usdt-coin-turk-com-1-1.png" alt="" width="1814" height="798"></p> 
<p style="text-align: justify">According to technical indicators, the 4-hour MACD is giving a bullish signal for the DOGE/USD pair and appears to be gaining momentum. Similarly, the 4-hour RSI is trending above the 50 level. This could be interpreted as a sign of short-term optimism.</p> 
<p style="text-align: justify">The main support levels that investors should pay attention to are $0.1450, $0.130, and $0.1150. On the other hand, the recorded resistance levels are $0.1580, $0.160, and $0.1650.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/dogecoin-faces-a-challenging-test-in-the-volatile-crypto-market/" data-wpel-link="internal">Dogecoin Faces a Challenging Test in the Volatile Crypto Market</a></h5>

Dogecoin Faces a Challenging Test in the Volatile Crypto Market

목차

COINTURK NEWS

2024년 3월 21일에 게재된 다른 기사

SubQuery Supports Soroban to Advance Stellar’s Smart Contract Network

Cryptocurrency Analyst Projects Strong Rebound for Solana and Positive Outlook on Bitcoin and Alt...

Ripple and SEC Jointly Agree to Seal Details in Remedies Briefing, Shiba Inu Team Member Expects ...

Estonian Government Approves Bill for Crypto Regulation

Mintlayer (ML) a Bitcoin L2, is currently yielding a 191% APY from staking rewards.

BlackRock Launches ‘BUIDL’ Asset Fund on Ethereum

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!