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May 26, 2023After dipping down to $0.07, DOGE regains earlier losses and reaches $0.071.
Support/Resistance levels obtained from chart analysis indicate that Dogecoin could be slowing down soon as it approaches resistance at $0.071. Of course, crossing it might suggest further gains are ahead. Concerning technical analysis and more specifically, trend indicators, Dogecoin made an initial breakout above its 3 day Simple Moving Average at $0.071, a potential indicator of a newly emerging bullish phase. Analysis based on the asset volatility indicates that DOGE's upper Bollinger Band® is at $0.075, this is a slight indication of a slowdown.
With market volatility ebbing, the current technical outlook indicates Dogecoin will remain range-bound for the immediate future.
Other markets are also showing gains as FTX Token is up 9.54% to $1.36. Ripple is up 2.1%.
At the same time, UNICORN Token USD closed at $6.43 (down 2.98%).
DOGE reached a significant high of $0.142 around 6 months ago but has lost 50.15% since then. Dogecoin is currently trading with a market cap of 9.91 billion with an average daily volume of 247.58 million.
