The exciting days are approaching for Dogecoin (Doge) investors. According to Kriptokoin.com, Doge has recently a strong output signal. The popular breast coin, which is currently traded for $ 0.25, is preparing to break the critical resistance of $ 0.26. If the bulls take control, Dogge is expected to experience a rapid rise towards $ 0.31.
RISE SIGNALS IN DOGECOIN STRENGTH
Sensitivity in the Dogecoin market seems mixed. Although investors expect rise, funding rates from time to time return to negative and show that the market is still unstable. Especially the short position of some investors instead of long positions shows that a cautious approach is displayed for Doge.
However, the latest data show that the funding rates are positive and the bulls are superior. Investors believe that the price of Dogecoin will increase. This shows that Doge can start a new rally by overcoming resistance levels.
Technical indicators point to the big movement for Dogecoin
Dogecoin’s technical appearance shows that volatility will increase soon. Bollinger bands reveal that the price is prepared for a hard movement by giving a contraction signal. Usually such jams result in a great rise or a harsh decline.
Currently, Doge’s candle bars are below the middle level of Bollinger bands. This increases the likelihood of the price in the near future. With the increase in investor interest, Dogecoin is expected to make a harsh movement in the coming days.
If the Dogge breaks $ 0.31, where is the next target?
Currently, Doge is testing $ 0.26. If it exceeds this level, the price is expected to reach $ 0.31 rapidly. This level stands out as a critical resistance in which Doge has difficulty over in recent weeks. If Dogge maintains a rise trend, it may see an increase of up to 21 %. In this case, the level of $ 0.31 becomes a strong support and prepares the ground for the price to move to $ 0.40. However, if an unexpected wave of sales arrive, DOME may decrease to $ 0.22 and the rise scenario may be invalid.
Critical days are approaching for Dogecoin. If the market reacts positively, Doge investors may witness new summits. However, in order for bulls to make a really strong exit, the volatility needs to work in favor of!
