Skip to main content

Join Our Telegram channel to stay up to date on breaking news coverage

Dogecoin price has risen 6% in the last 24 hours to sell for $0.08544 as of 7:45 AM EST. It comes with a 20% increase in trading volume, crashing beyond the $2 billion mark.

With Dogecoin gaining momentum, the meme coin is now among the coins investors are watching closely.

Β 

It is among the most talked about projects on crypto-related social media after its value increase and soaring volatility.

Perpetual traders in particular, are having a field day with the altcoin as it continues to record very actionable price fluctuations. This points to increasing volatility in the DOGE market.

Dogecoin Price Three-Day Chart Is The One To Watch

Meanwhile, the three-day chart for the DOGE/USDT trading pair is the place to watch, with traders and analysts identifying good milestones. Among them, the cryptocurrency has overcome multi-year resistances presented by Moving Averages (MAs). More often than not, this precedes a strong move north.

Elsewhere, the price action has created a double-bottom pattern, which is often a bullish technical formation. It represents a major change in trend and points to a momentum reversal that marks the end of a prior down move. It happens when the asset’s price action records two consecutive drops with a rebound in between. The drops are of the same depth, with a last move north marking the breakout past the neckline.

The target objective of this price pattern is determined by measuring the depth of the drop and superimposing it at the breakout point.

DOGE double bottom
DOGE double bottom

Dogecoin Price Forecast As DOGE Displays A Double-Bottom

After a value drop that began on April 22, Dogecoin’s price found support at $0.05694 before pulling back only to fall again. DOGE shattered past the $0.08153 resistance level in the last move north to actualize a double bottom pattern with a forecasted 44% move north to the $0.11777 target objective.

With this move, a retest of the neckline at $0.08153 is expected, meaning DOGE holders should brace for a 5% slide that seems to be underway already. It may not be too late to buy DOGE. A test of this support level could see Dogecoin price rise to break past the $0.10000 and $0.011000 psychological levels before completing the 43% climb to the $0.11777 target objective.

Technical indicators support this outlook, with the Relative Strength Index (RSI) coiling up to give the bulls time to rejuvenate before a continuation of the trend. Its position above 50 also supports the bullish outlook, pointing to a strong price strength as the bulls lead the market. This Awesome Oscillator also corroborates this stance, holding in the positive territory with green histogram bars.

More importantly, the analysis of the volume indicator bolsters the outlook. It shows that there is relatively more buying on right now.

Dogecoin price
TradingView: DOGE/USDT 3-day chart

Meanwhile, all eyes are on BTCMTX, one of the best crypto ICOs to buy in 2023 and among the best cryptos to buy now.

Promising Alternative To Dogecoin

BTCMTX is the native cryptocurrency for the Bitcoin Minetrix project, a cloud-mining project that aims to make it easy for everyone to own BTC. To this end, it has decentralized and tokenized the entire process. This means there are no intermediaries and therefore the chances of swindles have significantly reduced.

Also, by taking the process of Bitcoin mining to the cloud, Bitcoin Minetrix eliminates all hassles spanning from space, noise, heat, hardware costs, and others.

You do not need hardware, space, heat endurance, or anything else that comes with traditional BTC mining. This is thanks to the project’s standalone stake-to-mine utility or function. Here, you stake your BTCMTX tokens for credits, then burn or redeem these credits for mining hash power.

The project is in the presale stage, with investors buying BTCMTX for just $0.0117 in stage 8, which is still on for the next four days. Take advantage of it before the price increases.

So far, presale collections are going well, with an outstanding $4.122 million already in the bag. This is out of the stage target of $4.914 million.

Navigate to the Bitcoin Minetrix website here to buy BTCMTXC in the presale.

Also Read:

New Crypto Mining Platform – Bitcoin Minetrix

Bitcoin Minetrix
  • Audited By Coinsult
  • Decentralized, Secure Cloud Mining
  • Earn Free Bitcoin Daily
  • Native Token On Presale Now – BTCMTX
  • Staking Rewards – Over 100% APY

Bitcoin Minetrix


Join Our Telegram channel to stay up to date on breaking news coverage




Source link

Blockchain Beat

Author Blockchain Beat

More posts by Blockchain Beat

Leave a Reply