Dogecoin (DOGE) Spikes To $0.07912 After Strong Bullish Movement By CoinEdition

• Dogecoin price analysis shows a bullish trend as pair is trading above $0.07912.
• The support level is currently at $0.07518 and if broken there will be additional declines in the DOGE price are anticipated.
• The key resistance for DOGE/USD pair is present at 0.08072.

Dogecoin is bullish, with DOGE/USD pair rising to the $0.07912 level after increasing by more than 2.18% over the last 24 hours. However, the digital asset is facing some resistance at $0.08072. Traders are expecting the token to break through this level and continue its uptrend. The price action recently created a bullish engulfing candlestick pattern on the daily chart, signaling a potential breakout.

The one-day Dogecoin price analysis, reveals a possible breakout of the resistance at $0.08072. If the digital asset is able to break this level, it will likely surge higher and test new highs near $0.08. However, if the upward momentum fades out, the digital asset will likely retrace to the support zone at $0.07518. The bulls have already increased the value of the currency by 2.81 percent over today, which is a significant victory. The moving average (MA) value is found to stand at $0.0748, just above the current price.

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