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DOGE Price Analysis for December 5

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Tue, 5/12/2023 - 15:10
DOGE Price Analysis for December 5
Cover image via www.tradingview.com

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The growth has stopped on the cryptocurrency market, according to CoinMarketCap.

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DOGE/USD

The rate of DOGE has risen by almost 2% over the last 24 hours.

Image by TradingView

On the hourly chart, the price of DOGE has made a false breakout of the local support level of $0.08751. Currently, one should focus on the daily bar closure.

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If it happens far from that mark, there is a chance to see an upward move to the $0.090 area.

Image by TradingView

On the bigger time frame, buyers could not keep the rise going after yesterday's bullish bar. In this case, a further rise is possible only if buyers restore the rate to the resistance of $0.09260 and fix above it.

Image by TradingView

From the midterm point of view, it is too early to think about far off predictions as many days remain until the bar closes. However, if it happens near the $0.095 level and with no long wick, traders may expect a blast to the vital zone of $0.10 soon.

DOGE is trading at $0.08932 at press time.

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