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DOGE Price Analysis for December 4

Sun, 12/04/2022 - 19:30
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Denys Serhiichuk
Can upcoming week become bullish for DOGE?
DOGE Price Analysis for December 4
Cover image via www.tradingview.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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The market is trading sideways, according to CoinMarketCap's ranking.

Top 10 coins by CoinMarketCap

DOGE/USD

DOGE is an exception, rising by 4.72% over the last day.

DOGE/USD chart by TradingView

DOGE started the last day of the week with a false breakout of the local support level at $0.10139. However, the growth was stopped at the resistance at $0.10497.

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Any sharp moves are unlikely to happen by the end of the day as most of the average true range (ATR) has passed.

DOGE/USD chart by TradingView

On the daily chart, DOGE is still trying to get closer to the resistance level at $0.10799. If bulls manage to do that, the growth may lead to a further test of the $0.1150 zone by the end of the month.

DOGE/USD chart by TradingView

Bulls managed to hold the price near the peak of the last closed candle at $0.10799. It means that buyers might need more time to accumulate strength for a further move. In this case, sideways trading in the range of $0.10-$0.105 is the more likely scenario for the next weeks.

DOGE is trading at $0.10318 at press time.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.