DOGE/USDT market analysis

Dogecoin (DOGE) broke and closed above the $0.29 resistance on Aug. 14, which cleared the path for a rally to $0.35. The bears mounted a stiff resistance at this level on Aug. 16 and pulled the price back to the breakout level at $0.29.

The bulls successfully defended the breakout level at $0.29 on Aug. 20, suggesting that the sentiment is positive. If buyers thrust the price above $0.35, the DOGE/USDT pair could rally to the next overhead resistance at $0.45.

Conversely, if the price turns down from the current level or $0.35, the bears will again try to sink the pair below the 20-day EMA ($0.27). If they manage to do that, the pair could decline to the next support at $0.21.


1 Like