The encryption market has seen profits after a strong week, with major metal currencies, including Dogecoin, sinking by more than 7 %. The price of Bitcoin fell sharply on Friday from a rise of 111200 dollars to a little more than $ 107,000, as investors weighing macroeconomic fears.
Dogecoin reflected the Bitcoin price movement, as it reached an increase of $ 0.254 on Friday after three days of increases before it decreased to $ 0.223.
Despite the decrease, Dogecoin still attracts speculative attention. According to Glassnode, while speculative appetite is amazingly defeated by the top 10 coins, the Dogecoin financing rate is slightly higher.
What is the next for the price of Dogecoin?
At the time of this report, Dogecoin has decreased by 2.74 % in the past 24 hours to $ 0.2278, but by 7.23 % per week.
Dogecoin is combined between $ 0.21 and $ 0.259 after a significant increase in May. Daily RSI is much higher than the fifty -medium point, which hints that the short -term continuation can be uniform before the next main step with a slight edge to the bulls.
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This optimistic view will be nullified if the price of Dogecoin rejects and breaks less than $ 0.21. This indicates a possible range between $ 0.14 and $ 0.26.
As mentioned, the level of $ 0.21 is still important to keep it. If Dogecoin keeps the above here, the chances of breaking more than $ 0.26. If this happens, Dogecoin may reach $ 0.35. There is resistance at $ 0.29, but it is likely to be overcome.
