- For the last 24hrs, Dogecoin’s price has been stalling slightly below the $0.27 area.
Earlier yesterday, price made a roughly 6.8% gain, which helped recover a significant part of Sunday’s 8.45% estimated loss. Price went as high as $0.265 before starting the ongoing range movement.
Yesterday’s rally to the upside meant that price had failed to hit the anticipated $0.22 demand zone. By the end of the day, price had moved from the $0.233 level to the $0.257 level.
While price failed to test the $0.269 supply zone, it has managed to stay above the $0.249 demand zone until the time of this writing.
For the entire day, price has been moving within the $0.247 – $0.266 range zone.
For the near future, a break above the $0.27 zone would expose the $0.28 resistance zone. This would offer any Dogecoin day traders the opportunity to look for buy entries.
Alternatively, a close below the $0.25 support zone would expose the $0.22 as the next support zone. In such an event, Dogecoin day traders would have the opportunity to identify intraday sell entries.
The chart below shows these levels on the 2hr chart;
image from tradingview.
Therefore, the $0.247 level and the $0.266 level are the most important immediate zones for Dogecoin’s price action in the short-term.
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