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Dogecoin Price Analysis & Prediction (Nov 25th) – DOGE Recovers Above $0.07 After Three-Week Drops, Now Poises for a Massive Gain

Dogecoin Price Analysis & Prediction (Nov 25th) – DOGE Recovers Above $0.07 After Three-Week Drops, Now Poises for a Massive Gain

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Earlier this month, Dogecoin hit a six-month high of $0.159 after seeing a seven-day rally above $0.07. Unfortunately, exhaustion set in and the price fell over 50% to a low of $0.0711. This level has provided support as the price slowly climbs back up.

Dogecoin’s latest resurgence is showing signs of strength in the market, although it is likely to face some obstacles on the way up. The critical resistance level is $0.094, a confirmation level for a medium-term rally. The price is currently at the hourly resistance level of $0.084.

It appeared to have found based on the double bottom pattern formed on the current Daily chart at $0.0711. This bullish pattern has yet to be confirmed due to the critical resistance mentioned earlier. This setup could come true if the bulls continue to push higher.

The rise of the critical resistance strengthens the buying pressure in the market. This could trigger a bull run for DOGE. We can expect an impressive (possibly parabolic) rally when the price crosses the previous seven-month high.

However, if the price falls and the bulls do not quickly regroup, a break below the $0.05 annual low will activate a continuation of the long-term downtrend. And this time the scenario might turn uglier than before.

The coin is the eighth largest crypto by market capitalization and has gained 3% in the last 24 hours.

Dogecoin Price Analysis (DOGEUSTT): Daily Chart

dogecoin price analysis forecast
Source: Tradingview

While the $0.09 resistance level remains critical for Dogecoin to break through, a move above this level would allow for buying towards the $0.11 resistance level, where the market collapsed in May. If this level does not reject price action, a buy target would be $0.15.

In the opposite direction, Dogecoin is currently supported by $0.0711. Support remains at $0.0611 on the downside. If these supports fail to provide a rebound level, there is still hope for the bulls at $0.057. The last line of defense for the bulls is $0.05.

Key resistance levels: $0.094, $0.11, $0.15

Main support levels: $0.0711, $0.0611, $0.057

  • Spot price: $0.082
  • Trend: Bearish
  • Volatility: Moderate

Disclosure: This is not trading or investment advice. Always do your research before buying cryptocurrency or investing in services.

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Image source: karnoff/123RF // Image effects author Colorcinch



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