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DOGE Price Analysis for June 6

Tue, 06/06/2023 - 13:46
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Denys Serhiichuk
When can traders expect bounce back of DOGE?
DOGE Price Analysis for June 6
Cover image via www.tradingview.com

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The bounce back has not lasted for long, as all of the top 10 coins are back in the red zone.

Top 10 coins by CoinMarketCap

Top coins by CoinMarketCap

DOGE/USD

The rate of DOGE has followed the drop of other coins, going down by 7.22%.

DOGE/USD chart byTradingView

Image by TradingView

After a sharp drop, the price of DOGE is trading within the narrow range, accumulating power for a further sharp move. If the rate closes near the local resistance at $0.06689, there is a chance to see a correction to the $0.068 zone tomorrow.

DOGE/USD chart byTradingView

Image by TradingView

On the bigger time frame, the rate of DOGE has started to fall after a long-term accumulation. At the moment, the price is trading below the important level at $0.06689.

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SHIB Price Analysis for June 4

If buyers cannot seize the initiative and restore the rate above that mark, there is a high possibility of seeing an ongoing downward move to the $0.064 area shortly.

DOGE/USD chart byTradingView

Image by TradingView

On the weekly chart, the rate of DOGE has almost tested the support at $0.06253. At the moment, one should pay attention to the bar closure. If it happens near that mark, one can expect a decline to the $0.06 zone by the end of the month.

DOGE is trading at $0.066 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.