DOGE Price Analysis for February 1 – Crypto News – Crypto News
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DOGE Price Analysis for February 1 DOGE Price Analysis for February 1

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DOGE Price Analysis for February 1 – Crypto News

Published

3 years ago

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Even though the day has started with bulls’ dominancesome coins have come back to the red zone by the end of the day.

DOGE/USD

DOGE is one of the biggest losers today, falling by almost 2% over the last 24 hours.

DOGE/USD chart by TradingView

On the local time frame, the price is trading near the support level after a false breakout from the resistance at $0.09299. If the situation remains the same until the end of the day, the drop may lead to a test of the $0.089 zone tomorrow.

DOGE/USD chart by TradingView

On the daily chart, bears might have seized the initiative as the rate of DOGE could not continue yesterday’s rise. However, there are low chances to see a midterm decline as the selling volume is low.

In this regard, the meme coin might enter the consolidation phase ($0.085-$0.095) until mid-February to accumulate energy for a further sharp move.

DOGE/USD chart by TradingView

On the weekly time frame, one should pay attention to the level at $0.09555. The price has made a false breakout of it, however, the candle has not closed yet. If the price gets back to it, the upward move may continue to the resistance zone around $0.1.

DOGE is trading at $0.09038 at press time.

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