DOGE Price Faces Resistance at $0.16, But Holds Onto Key On-Chain Support

IconCryptoNewsTerminal Staff13 Jun, 2024

cryptonews.jpg

DOGE Price Faces Resistance at $0.16, But Holds Onto Key On-Chain Support

## Dogecoin (DOGE) Analysis Summary: DOGE is currently trading above an on-chain support level, where 4.5 billion DOGE were traded at an average price of $0.115. This level could provide support in case of a market downturn. If DOGE moves higher, it could face resistance at the $0.16 level, where 2 billion DOGE are currently held at a loss. Key Insights: On-chain support at $0.115 Resistance at $0.16 * DOGE price currently at $0.1442, down 0.68% ## Implications for Investors Investors should be aware of these key levels as they consider their trading strategies for DOGE. The on-chain support level could provide a buying opportunity if DOGE dips below it, while the resistance level could present a point to sell or take profits. ## Disclaimer This analysis is for informational purposes only and should not be considered financial advice. Investors should always conduct their own research before making any investment decisions.

Related News