Dogecoin (DOGE) price has faced stiff resistance in the last three trading sessions with certain selling pressure as buyers enter the Cloud. However, according to analyst Jonathan Morgan, investors continue to support Dogecoin and move higher towards a critical breakout zone.
Dogecoin (DOGE) price is approaching final resistance!
Dogecoin (DOGE) price is heading towards a key zone in the Ichimoku Kinko Hyo system known as the Kumo Twist. Kumo Twist is where Senkou Span A intersects above/below (currently below). It is often the first warning sign of when a market is going to move and can identify the overall trend. But Kumo Twist can also act as a price-boosting strain.
Dogecoin price closing clearly above the $0.275 zone fulfills all necessary bullish continuation requirements. Also, this close will likely lead to a rejection of bearish trends that have developed and are currently developing within the oscillators.
Short sellers who want to nullify the current bullish momentum have a tough road ahead, according to Morgan. First, sellers will need to close Dogecoin price below the $0.195 level. However, a spike could occur from $0.195 where we will see Dogecoin collapse towards the $0.10 value area. This will represent a decrease of about 20% from the current level of $0.2477 and DOGE has been able to make strong exits from these levels since the beginning of the year. In September, he gave his biggest tests at these levels.
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