Dogecoin price rose even higher over the last 24 hours following Bitcoin’s upswing above the $60,000 psychological barrier. The markets are back to green, but the Bitcoin Fear and Greed Index shows that the majority of the market is still cautious. This may be because a majority of crypto assets, including DOGE, are forming what seems to be a rising wedge, which is a bearish reversal pattern. Nevertheless, DOGE prices are hopeful in the short term.
Dogecoin Price Tests Major Resistance
DOGE’s price is on a short-term upward trend within a larger downward trend. The price has been making higher lows, but it is still trading below both the 50-day ($0.10133) and 200 exponential moving average (EMA) ($0.11216), which suggests that the broader trend is still bearish.
The DOGE price action is currently testing resistance around the $0.1100–$0.1120 range, which is near the 200 EMA. Above that, a stronger resistance level is around $0.1200, which coincides with the previous price action
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