Dogecoin Price Resurrection To $0.5 Could Be Imminent If This Level Breaks

The negative market sentiment has spread rapidly, and the Dogecoin price continues to range around $0.2 as a ￰0￱ puts the meme coin in a perilous position that could see its decline deepen from ￰1￱ thing that could make a difference would mean a rise in momentum, but volume is already down by a significant amount, so this route has remained a ￰2￱ major problem is the resistance mounting at $0.21 that could stop any recovery rally in its ￰3￱ Happens If The Dogecoin Price Breaks $0.218 Crypto analyst Diana Sanchez has highlighted the bullish potential of Dogecoin, suggesting that the price has been showing ￰4￱ comes with the recent market fluctuations ahead of the decision from the Federal Reserve following the FOMC ￰5￱ this point, though, there is an important level where there is still a lot of ￰6￱ Reading: Dogecoin Open Interest Crashes 50% From October Highs, Volume Is Worse, What’s Going On?

The first thing the analyst points out is that despite the current struggle, the Dogecoin price has already increased by over 43%. This makes it one of the best performers among the top cryptocurrencies by market cap, and the momentum could turn bullish once again. However, the major problem now lies at the $0.218 level, where the bears are now mounting their ￰7￱ for now, it continues to maintain the support at $0.2, and this has become the major source of interest for the bulls who are looking to continue the ￰8￱ main point right now, the crypto analyst explains, is to break the resistance at $0.218. If this resistance is broken, then the Dogecoin price is expected to continue to ￰9￱ this, the analyst says the Dogecoin price rising to the $0.5 target is no longer a ￰10￱ Volume Could Be A Hindrance To Recovery Despite the bullishness that is showing on the Dogecoin price chart, the fact that the meme coin’s daily trading remains low continues to put a damper on ￰11￱ the start of October, the daily trading volume had spiked above $20 billion before seeing a ￰12￱ Reading: Pundit Says XRP Price Will Not Teleport To $500 This Cycle, Shares ‘Realistic’ Targets Since then, though, the daily trading volume has continued to decline, reaching an average of $5 billion at the time of writing, as shown on the Coinglass website.

So, unless there is a notable increase in the trading volume, any breakout could lack momentum, meaning the price could quickly correct and retrace its ￰13￱ image from Dall. E, chart from ￰14￱