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DOGE Price Analysis for December 3

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Sun, 3/12/2023 - 13:44
DOGE Price Analysis for December 3
Cover image via www.tradingview.com

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Buyers keep controlling the initiative on the last day of the week on the cryptocurrency market.

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DOGE/USD

The rate of DOGE has increased by 1.22% since yesterday. Over the last week, the price has risen by 9.07%.

Image by TradingView

Despite today's rise, the price of DOGE is looking bearish on the local chart as the rate is returning to the recently formed support at $0.08469. If a breakout happens, there is a high chance of a test of $0.084 soon.

Image by TradingView

On the daily time frame, the rate of DOGE has made a false breakout of yesterday's peak. If today's bar closes in the area of $0.084, bears may seize the initiative, which can lead to a drop to the $0.080-$0.082 area next week.

Image by TradingView

From the midterm point of view, one should focus on the weekly candle closure in terms of the level of $0.08380. If it happens above and with no long wicks, the upward move may continue to the $0.09 area until mid-December.

DOGE is trading at $0.08468 at press time.

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