DOGE is a popular meme coin with a price that seems expected to exceed $0.06
DOGE is a popular meme coin with a price that seems expected to exceed $0.06. Although prices have fallen in the past few months, there have been some signs of rebound recently, giving investors some hope. However, technical analysis suggests that dog coins still face some downside risks.
From July 25th to October 9th, the price of dog coins decreased, but after only four days, the price began to rise. This upward trend has sparked optimism among some investors. Now, Dogcoin may reach a critical level, but the technical chart shows some bearish signs.
Technical analysis shows that Gougou Coin has remained stable at over $0.06 since June, but the price has since shown a downward trend. This has formed a downward experimental pattern, showing some bearish signs.
However, after a large-scale malfunction occurred in October, people began to expect that Dogcoin may break through the price point of 0.06 US dollars. Although the price fell below the support level, it did not continue to decline for too long. A few days later, the price trend reversed.
Gougou Coin is currently located at the level of 0.06 US dollars, with a downward resistance trend line closely following. This resistance line has been fixed for 85 days. Investors can pay attention to the Relative Strength Index (RSI), which currently shows a bullish signal. The RSI is above 50 and showing an upward trend, which is consistent with bullish predictions.
To confirm an upward trend, the daily closing price of Dogcoin must be above the downward resistance trend line, while the $0.060 and RSI must rise above 50. If these conditions are met, the price of dog coins may increase by 20%, reaching a resistance level of $0.070.
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