Dogecoin Price Continues To Consolidate But A Move Above This Level Could Fuel A Rally

Dogecoin price has continued to consolidate. However, the coin showed signs of recovery on its one-day chart. Over the last 24 hours, the coin hasn’t made much progress. In the past week, Dogecoin price just moved up by 0.4%, which indicates that the coin is still in a consolidated price range. The technical outlook for Dogecoin indicated that buyers were not in control of the market at press time. This meant that Dogecoin price was still experiencing bearish pressure. For Dogecoin to be able to regain the bulls back, it is important that the meme-coin breaks past its immediate price ceiling. Demand for Dogecoin continued to remain low, which is why the bears could at any point invalidate the brief recovery that the coin made. If DOGE continues to consolidate over the next trading sessions, the coin could fall to its local support level. For a rally to happen, the coin has to topple over the $0.07 price ceiling. Only then can the coin attempt to touch the $0.09 price mark. Dogecoin Price Analysis: One-Day Chart DOGE was trading for $0.05 at the time of writing. The coin is still trading laterally. Although it tried to climb on its chart, the buyers did not cooperate. Overhead resistance for the coin stood at $0.06. A break above that can help Dogecoin touch the $0.07 price mark. A move above the $0.07 mark would help the coin rally to $0.09. On the other hand, support for the coin stood at $0.47. If buyers don’t re...