The data shows that the price of Dogecoin (DOGE) plunged all the way down to $0.15 per DOGE on the 4th of December. However, the bulls came into action and started buying DOGE on a large scale. The bulls carried on with their purchases for Dogecoin in order to push the price of DOGE to a higher figure.
The bulls continued purchasing DOGE with aim of pushing its price. However, the bulls failed with their attempt and weren’t able to cross the resistance price for $0.19 per DOGE. This meant that there wasn’t much aggression shown by the bulls into buying DOGE.
This is the reason why they weren’t able to push the price of DOGE over the $0.19 per DOGE. The efforts by the bulls into buying DOGE lacked, and it wasn’t able to cross the resistance price.
At the time of writing, the price of DOGE is $0.1781 per DOGE. However, the bears are trying hard to bring the price of DOGE below $0.15 per DOGE. If the bulls manage to pull the price of DOGE below the $0.15 mark, their next attempt would be to breach the support price.
The analysts predict that the support figure for DOGE is $0.15 and the bears may intensify the sales for DOGE. It is expected that the bears may grow very aggressive when selling DOGE. Their attempt would be to bring the price of DOGE down to $0.13 per DOGE.
However, the $0.13 won’t be the stopping price for DOGE as it may fall below the particular point. The analysts expect that the bears will attempt to bring its price down to $0.10 per DOGE. The $0.10 per DOGE price is the psychological support benchmark that has been set for DOGE. On the other hand, the bulls are trying their best to rebound the price of DOGE.
If the price of DOGE does manage to maintain its price above the $0.15 per DOGE figure, it is expected that the bulls will intensify their purchase attempts for DOGE.
The bulls will surge the price of DOGE over the resistance price, which currently is at $0.19 per DOGE. If DOGE manages to hit the $0.19 per DOGE figure, the bulls will go for the next rally in order to cross the 20-day EMA price. In that case, DOGE will be able to cross the $0.20 per DOGE figure.
It would eventually help DOGE grow in size and volume, and make it above the $20 per DOGE price. This may help trigger a rally that would push the price of DOGE even higher in the upcoming days.