Heavy sales pressure!



11/12/20221 min read

DOGECOIN has seen extreme volatility over the past week. The price of this currency stopped after its stunning growth up to the resistance range of $0.15. Then, with the continuation of the downward trend of Bitcoin and increasing selling pressure, the price of Dogecoin fell to the support of $0.080. This support was temporarily broken, but the last two days' strong pullback above this range has increased the bullish tendencies of Dogecoin to retest previous resistances.

We can consider a downward trend line in the 4-hour time frame on the chart. If we break this dynamic resistance and pullback to this trend line and maintain the important trend support of $0.080, we can expect Dogecoin to grow again. But in general, due to the heavy selling pressure in this currency, Dogecoin needs a time correction, and there is a possibility that the price of Dogecoin will range between this support and the resistance of $0.100.

If you want access to the best analysis and receive the best crypto signals, join MonoCoin Signal. You can access futures signals, spot signals, and forex signals. Visit www.monocoin.net and get a subscription today. MonoCoin Signal sends trading signals every day.