- Crypto Tony thinks meme cash might rally if DOGE can attain a every day shut above $0.07.
- At press time, DOGE was buying and selling at $0.06886 after seeing its value rise by 0.33%.
- Technical indicators counsel that DOGE might climb as excessive as $0.077 within the coming week.
Nicely-known crypto dealer and investor Crypto Tony predicted on Twitter yesterday {that a} meme coin rally may very well be across the nook. Based on the dealer, if Dogecoin (DOGE) can attain a every day shut above $0.07, it will likely be “present time for the bulls” and meme cash will rise once more.
Though nearly all of cryptos have been buying and selling within the purple at press time, DOGE might see its value enhance over the previous 24 hours of buying and selling. Crypto market monitoring web site CoinMarketCap reported that DOGE was buying and selling at $0.06886 after seeing its value rise by 0.33%.
This meant that DOGE was buying and selling a bit nearer to its every day low of $0.06792 than its 24-hour excessive of $0.07142. The rise within the meme coin’s value additionally meant that its weekly efficiency was nonetheless firmly anchored within the inexperienced zone at +5.26%.
Moreover, DOGE’s 24-hour buying and selling quantity elevated by almost 50%, placing it at round $446 million. The meme coin’s market capitalization of $9,642,168,317 meant it was ranked the eighth largest crypto. This put it simply behind Cardano (ADA) in seventh place.
From a technical standpoint, DOGE had been printing greater lows over the previous few weeks to commerce at its present degree. Moreover, a big bullish flag was triggered on DOGE’s every day chart because the 9-day EMA crossed above the 20-day EMA line on Saturday. Since then, each technical indicators have acted as assist for the value of the crypto.
If DOGE closes a every day candle above the $0.07 resistance within the subsequent few days, then it might attain $0.0770 the next week. The continued shopping for stress would possibly carry the value of the coin even to the subsequent main resistance degree at $0.0830.
Alternatively, if DOGE is unable to shut a every day candle above the aforementioned $0.07 degree by July 17, 2023, then it dangers falling to the 9-day EMA line. On this situation, the value of DOGE would possibly drop to $0.0671.
Disclaimer: Views and opinions, in addition to all info shared on this value evaluation, are printed in good religion. Readers ought to do their very own analysis and due diligence. Any motion taken by the reader is strictly at his personal threat. Coin Version and its associates won’t be held answerable for any direct or oblique injury or loss.
