Dogecoin Gains Ground As Bitcoin Rebounds

Dogecoin failed to settle below the support level at $0.2350 and is trying to get to the test of the resistance at $0.24. RSI is in the moderate territory, and there is plenty of room to gain upside momentum in case the right catalysts emerge.

If Dogecoin manages to settle above the resistance at $0.24, it will head towards the next resistance level which is located at $0.2450. A move above this level will open the way to the test of the resistance at $0.2520. In case Dogecoin gets above $0.2520, it will continue its upside move and head towards the next resistance level at $0.2570.

On the support side, Dogecoin needs to settle below the support at $0.2350 to have a chance to develop downside momentum in the near term. The next support level for Dogecoin is located near the recent lows at $0.23.

In case Dogecoin manages to settle below the support at $0.23, it will gain additional downside momentum and head towards the next support level near $0.2250. A move below this level will open the way to the test of the support at $0.2190.

It should be noted that Dogecoin will likely remain sensitive to the dynamics of Bitcoin in the upcoming trading sessions, so traders should keep an eye on the movements of the world’s leading cryptocurrency.

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