Dogecoin value could rise 20%
The dogecoin cryptocurrency is in a rebound stage, which would imply an increase to reach $ 0.0941
Despite the bearish behavior that the cryptocurrency market is showing, the dogecoin aims to go against this trend in the coming days.
As of May 11, the cost of the digital asset would show a “bump-and-run-reserval” behavior, which consists of three stages that could lead to a positive rebound.
In the “entry phase”, the price consolidates within a narrow and sideways range, showing an intermediate trend conflict among investors. Next, the “bounce phase” occurs, in which the price drops and recovers sharply, leading to a price breakout, defined by the “run phase”.
Currently, dogecoin seems to be in the bounce stage, looking for a break above the descending line resistance of the BARR bottom. This series of changes means that the asset could be positioned at $ 0.0941, which represents an increase of 20% compared to the current price.
K. Tovar
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Source: Cointelegraph
