The price of Dogecoin has seen a 25% rally in the last 24 hours, reaching a seven-month high. It is approaching a significant resistance level at $0.20, which, if broken, could result in further gains. However, market indicators suggest a possible trend shift for the meme coin, with 94% of its total supply now in profit, signaling a approaching market top. The Relative Strength Index (RSI) is also above 70.0, indicating overbought territory and a potential pullback. If Dogecoin fails to break through the $0.20 resistance, a reversal could occur, with potential support levels at $0.17 and $0.14. However, if the broader market remains bullish, the rally could continue and support a longer-lasting bull run.
- Content Editor ( beincrypto.com )
- 2024-11-06
Dogecoin Price Rises 25%, Now Overbought and at Risk of a Local Top