Dogecoin price is trading steadily above the $0.3000 resistance level that it surpassed on Wednesday. The move is in line with Bitcoin price’s surge above the crucial $50,000 mark. As expected, other altcoins have also followed the bullish trend set by Bitcoin.
Ripple price is trading above $1.3000 while Ethereum is hovering below the resistance level of $4,000. According to CoinMarketCap, the combined crypto market cap is up by $2.98% at 2.35 trillion. As for Dogecoin, its market cap is up by 3.74% at $40.92 billion. Besides, its trading volume has risen by 7.71% over the past 24 hours.
Dogecoin price has eased at around 0.3100 after surging past the crucial resistance-turn-support level of 0.3000 on Sunday. At the time of writing, the altcoin was down by 1.24% at 0.3110.
Notably, 0.3000 has been a key level since mid-August when the crypto rose from the support zone of 0.2000. Since the beginning of September, it has surged by about 14.25%.
On a four-hour chart, Dogecoin price is trading above the 25 and 50-day exponential moving averages. In the near term, it will likely hover around 0.3100. A pull back will have it find support along the 25-day EMA at 0.3000.
On the upside, clearance of the resistance at Monday’s high of 0.3172 will place the next target at a two-and-a-half-week high of 0.3297. However, a move below the 50-day EMA at 0.2965 will invalidate this thesis.