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.
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