Dogecoin price remains in limbo as the plans to retest $0.15 price mark is postponed amid inconsistencies in the broader market
Dogecoin (DOGE) remains under mixed strain from sellers and buyers, leaving its price consolidated close to the $0.1 support. The drive to breach the $0.15 price range has remained the primary focus for a long time, with the timeline shifting again.
Dogecoin Price Boost
As of writing, Dogecoin’s price has dropped by 0.34% to $0.1066, with a market capitalization of $15,537,132,636. Key price trends show this slip-back after DOGE jumped to $0.11 in the past 24 hours.Â
The slight slip in the DOGE price has confirmed the trend it also showcases amidst market volatility. The push to retest the $0.15, a level it has not seen since early June, is not backed by technical indicators.Â
The DOGE/USDT 4H Chart on TradingView shows DOGE has a Relative Strength Index (RSI) 51. This indicator dropped from a high of 69 on September 21, showing a mildly intensive buying momentum. Though the RSI is still above neutral, a sustained trend might decrease the price.
The Bollinger Bands complemented this indicator. The upper bands rejected the DOGE price, showing a retracement from its oversold level. If the selloff is unchecked, the chances of retesting higher highs remain low.
The Dependent Dogecoin Growth Trend
Dogecoin has an intense liquidity flow. In an earlier price analysis, other altcoins like Litecoin (LTC) also had a latent boost to retest new highs. However, the growth of these coins is highly market-dependent.
This means that the outlook of Bitcoin (BTC) can either make or mar the chances for growth. For now, Bitcoin remains in an extended consolidation trend, and until a breakout is experienced, the Dogecoin price may remain stuck around the $0.1 support for a longer time.
In the short term, DOGE will look to maintain the $0.1 support because if it fails to, it might drop to $0.08. The immediate target is $0.12, a price point that, if breached, can set it up for a $0.15 takeover.
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