DOGECOIN PRICE ANALYSIS & PREDICTION (November 25) – Doge Rallies 30% Again As Trading Overstretched, Looks Due For Correction

2024-11-26 10:42

Doge is waxing stronger daily amid the recent explosion of meme coins, which have been gaining a lot of attention lately. Breaking higher this week, it tapped a new multi-month high with an impressive surge in the past 24 hours.

So far, Doge’s performance has been stunning this month as the price flipped through several key levels to reach a new milestone last week.

Unfortunately, it lost steam due to a rejection. This led to a pause in buying and the price corrected for a week. The bulls regrouped in mid-week and pushed back. This push triggered a notable surge, and the price broke higher today.

A further surge in the volatility could fuel a bigger price movement in the next few days, although the price is overstretched and the same time looks due for a correction. We may initiate a drop soon.

Such a correction could cause the market to setback before locating support for a rebound. That should provide a sizeable discount for buyers looking for mid-term gains. But, from the looks of things, the price may rally higher before initiating a correction.

While the price has increased by roughly 250% in the past month, it has shown no signs of stopping yet as the bulls continue to gain dominance.

DOGE’s Key Level To Watch Source: Tradingview

The buyers are currently eyeing the $0.5 level while facing a rejection. If they continue to mount pressure above this key level, the next line of interest would be the $0.6 and $0.7 levels respectively.

In case of correction, the immediate level for support is $0.35, followed by the $0.298 level. If those levels fail to produce a bounce, the next key level to keep in mind lies at $0.229

Key Resistance Levels: $0.48, $0.6, $0.7

Key Support Levels: $0.35, $0.298, $0.229

Spot Price: $0.427 Trend: Bullish Volatility: High

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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Image Source: promesaartstudio/123RF // Image Effects by Colorcinch

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