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DOGE Price Analysis for May 4

Thu, 05/04/2023 - 18:00
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Denys Serhiichuk
Can DOGE bounce back soon?
DOGE Price Analysis for May 4
Cover image via www.tradingview.com

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Sellers have failed to dominate for long, according to the CoinMarketCap ranking.

Top coins by CoinMarketCap

Top coins by CoinMarketCap

DOGE/USD

The price of DOGE has risen by almost 1% over the last 24 hours.

DOGE/USD chart byTradingView

Image by TradingView

On the local time frame, the rate of DOGE is looking more bearish than bullish as the price is near the support level at $0.07795. If the bar closure happens near it, the breakout may lead to a further drop to the $0.0775 zone.

DOGE/USD chart byTradingView

On the daily chart, the rate of DOGE has continued to drop after the failed attempt to fix above the $0.08 zone.

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Ethereum (ETH) Price Analysis for May 3

In this case, there is a high possibility of seeing a decline to the support level at $0.07480. Such a scenario is relevant until mid-May.

Image by TradingView

DOGE/USD chart byTradingView

Image by TradingView

A bit more positive picture can be seen on the weekly chart, as the rate of DOGE has not decided yet which way to go. Respectively, the ongoing consolidation in the range of $0.075-$0.085 is the more likely scenario until the end of the month.

DOGE is trading at $0.07819 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.