Dogecoin Price Analysis: DOGE Holders Might Get A Break As The Market Begins To Rally. Wednesday, November 21st
Dogecoin Price Analysis- Dogecoin Holders Might Get A Break As The Market Begins To Rally
Prior to the market dump- which as we reported, has seen the market wipe out more than $41 billion, Dogecoin holders were counting losses. As of November 14, Dogecoin was struggling to stay above $0.0030. This was a drop from highs of $0.0062 and according to pundits, Dogecoin was to continue falling and bottom at $0.0023.
During the market dump that lasted for about five days, Dogecoin seemed to be handling the situation well. Where most coins were recording price falls of 5% to 20%, Dogecoin fell by 4%. This resilience from Dogecoin in such a bearish market has ensured that the coin hasn’t fallen below $0.0022. It almost seems like this predicament was inevitable for the coin whether it was through the wider market dragging it down or through its own price reversal. Now that it has happened, through a wider market drop, this could help Dogecoin soar again. By riding on the positive momentum that is almost guaranteed to sweep the market, Dogecoin will soar again.
DOGE/USD Price Chart, November 21st:
Today- November 21, it seems a price reversal has gotten underway. Most coins are recording gains even though the numbers are not big. Among the coins that are in the green zone is Dogecoin which is up by almost 3%. Dogecoin will very likely continue riding on the positive momentum in the market and soar.
The real test will be at the $0.0030 position where it was trading before the market dump. Bulls will encounter major resistance at this level making it a key point that dictates the movement of the coin for the coming weeks. If the bulls are lucky, when the coin hits $0.0030, the market momentum will be positively high making it easy for them to push the coin and break the resistance level.
It is not entirely certain that Dogecoin would have fallen to $0.0023, but if so, the market fall might just play in favor for the coin as it tries to get back on its feet.
Legal Disclaimer: Please remember that trading, buying or any other type of investing in cryptocurrencies should be consider risky and may lead to the loss of all of the invested money. For further information visit Terms and Conditions section on TokenTops. We do not encourage our readers to any kind of financial decisions. Neither jury.online nor its parent companies accept responsibility for any loss, damage, or inconvenience caused as a result of reliance on information published on, or linked to, from jury.online. We believe that everyone should make their own and in depth research on the particular topic in various sources before making any financial decision and this person should be the only one responsible for the outcome. Our writers do their best to remain unbiased and don't actively support any project. The research is done with various sources, the predictions are based on own believes, analytical skills, experts and community discussions and is intended to convey general information only.
You may also like
XRP Leads Market Recovery, Surges By 11% And Leaves Ethereum ETH In The Wind
Can EOS Stay Up And Maintain The Fourth Position Ranking?
Dogecoin Drops Below Range, Is It Still Worth Holding In 2019?
Stellar XLM Drops By 10% Recording New Year Low As The Market Wipes Out Over $6 Billion
IOTA’s Slowdown Sees It Slip Behind In Ranking
XRP Market Cap Could Be Overvalued By $6 Billion
You need to login to create comments.