Dogecoin price
Dogecoin price has surged above the crucial support level of $0.2500 after beginning the month at $0.2000. Interestingly, the altcoin started the year at around 0.0075. Since then, it has surged by 5,732%. In October alone, it as risen by 31.21%.
For as long as it remains above the support zone of $0.2500, it will probably be subject to a bull run. Subsequently, it may double in value to over $0.5000 in the current quarter. While $0.2500 needs to remain steady for this thesis to hold, the bears may manage to break past it to the lower support level of $0.2400 before bouncing back.
DOGE has surged has skyrocketed past 0.2500 after falling to 0.2252 on Sunday. The bounce back represents a 19.65% surge. At Monday’s intraday high of 0.2718, the bulls have managed to retest its highest level in October.
At the time of writing, Dogecoin price was up by 13.98% at 0.2700. On a two-hour chart, it is trading above the 25 and 50-day exponential moving averages. I expect the bullish outlook to hold in the ensuing sessions.
In the immediate term, Dogecoin price will likely remain above the support zone of 0.2500. Amid the current pullback, the support levels to watch out for will be 0.2600 and 0.2550. On the upside, a move above Monday’s intraday high will likely place the next target at the prior resistance level of 0.2850.
This post was last modified on Oct 18, 2021, 12:03 BST 12:03