DOGE price has continued to slide in tandem with other cryptos, including BTC price, as it opened the new week below $26,000. Although relatively unchanged over the last 24 hours, the second most prominent meme coin is trading at $0.0632.
If support at $0.06 holds firmly, investors are likely to throw their weight behind the price of Dogecoin while booking long positions ahead of the release of the much-awaited Elon Musk’s biography. Meanwhile, the short-term resistance at $0.064 must come out of the way and open the path to the next hurdle at $0.07.
The 100-day Exponential Moving Average (EMA) at $0.07 implies that bulls should come ready to face a heated moment with the bulls.
DOGE Price Bullish Climb Taps Buy Signal
A buy signal from the Moving Average Convergence Divergence (MACD) indicator confirms the growing bullish influence. If upheld, the call to buy DOGE, which manifested with the bullish cross (the blue MACD line flipping above the red signal line), trading volume may start to soar, thus validating movement not only to $0.07 but a rally targeting highs above $0.1.
DOGE/USD daily chart | Tradingview In addition to the buyer congestion in the region between $0.06 and $0.062, Dogecoin enjoys support at the lower ascending trendline. It must be defended at all costs. A break below the upper trendline saw DOGE price slide persistently to $0.056 in August.
