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DOGE Price Analysis for December 1

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Fri, 1/12/2023 - 18:00
DOGE Price Analysis for December 1
Cover image via www.tradingview.com

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Buyers are trying to hold the gained initiative despite sellers' pressure, according to CoinStats.

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DOGE chart by CoinStats

DOGE/USD

The price of DOGE has risen by 0.75% since yesterday.

Image by TradingView

On the hourly time frame, the rate of DOGE keeps falling after a false breakout of the resistance level of $0.08492. 

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If the decline continues to the support, there is a chance to see a blast to the $0.081 zone soon.

Image by TradingView

A similar situation can be see  on the daily chart. if the bar closes near $0.082, bears can seize the initiative, which can lead to a more profound drop to the $0.080 range by the end of the week.

Image by TradingView

From the midterm point of view, bulls have the chance to keep the growth going if the weekly candle closes above $0.08380. In that case, the upward move may continue to $0.09.

DOGE is trading at $0.08265 at press time.

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