DOGECOIN PRICE ANALYSIS & PREDICTION (March 5) – Is Doge Poise For a Retracement Following This Buy Signal?

Doge has posted a substantial gain since yesterday, following a slight bounce. However, it looks poised for a retracement but is yet to chart gains today. Doge went through a serious breakdown last week and charted a double-digit loss. It later managed to round up the week on a strong note after a bounce back from a low of $0.183. The primary meme coin encountered resistance and crossed into the new week bearish. It lost momentum but later reestablished support above the recent low due to a rejection. This led to a bounce and is now looking poised for a buy following a notable increase in the last 24 hours. A retracement movement is slowly underway. However, Doge’s bearish swing is still intact on the daily chart following a lower low and lower high movement from its peak level of $0.49. The potential retracement movement should bring a slight relief. Failure to push higher could bring another impulsive movement in the form of a lower low. This could lead to an extension of the bearish swing, which might cause another serious bleeding in the mid-term. While the bulls are yet to gain control of this market, the price must climb back above the previous monthly high before considering a shift in the trend. Having lost 52% in 90 days, Doge is currently indecisive. DOGE’s Key Level To Watch Source: Tradingview There has been little-to-no movement since the start of today. A surge from the current trading level could bring a retest at $0.24. Higher levels for a retracement are $0.305 and $0.4. Towards the downside, the $0.183 level is providing support. A crack from there may cause another roller coaster to $0.16 and maybe $0.13. Key Resistance Levels: $0.24, $0.305, $0.4 Key Support Levels: $0.183, $0.16, $0.13 Spot Price: $0.2 Trend: Bearish Volatility:Moderate Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news ! Image Source: edgecreative01/ 123RF // Image Effects by Colorcinch