Despite Dogecoin’s (CRYPTO: DOGE) spike, <a href="https://cryptoz7.com/palzea-launches-expanded-cryptocurrency-exchange-platform-p2p-trading-spot-markets-business-solutions/” title=”Palzea Launches Expanded Cryptocurrency Exchange Platform P2P Trading, Spot Markets, Business Solutions”>cryptocurrency punters doubt the memecoin will clear the $0.10 resistance before July ends.
Will DOGE Breach $0.10?
Meanwhile, the odds that the price would plunge below $0.05 remained low at just 2%, indicating reduced expectations of extreme downside risk.
Will DOGE’s Rally Stall?
The popular dog-themed coin rebounded sharply over the weekend, up about 7%, wiping out all the losses from earlier in the week.
Ali Martinez, a widely followed cryptocurrency analyst and trader, had issued a buy signal for DOGE on Saturday, setting an upside target of $0.16 on the rebound. Since then, the coin has broken above $0.07.
The broader cryptocurrency rebound, following a pause in fighting between the U.S. and Iran, has helped Dogecoin.
The Moving Average Convergence Divergence indicator, which compares the 12-period and the 26-period exponential moving averages, flashed a “Buy” signal for DOGE
To the contrary, the Bull Bear Power indicator, which measures the strength of buyers and sellers, flashed a “Sell” signal. The Relative Strength Index hovered in the “Neutral” territory.
Price Action: At the time of writing, DOGE was exchanging hands at $0.07270, up 0.37% in the last 24 hours, according to data from Benzinga Pro.
Photo Courtesy: Akif CUBUK on .com
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