One of two conditions necessary for Dogecoin to achieve breakout already achieved
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As reported, Ali indicated in an earlier tweet that $0.11 stands as a critical level for a Dogecoin breakout given the enormous amount of coins held at this level.surged this week following the Federal Reserve's long-anticipated rate cuts on Wednesday. Dogecoin rallied for five days in a row after beginning to increase last Tuesday. The surge encountered resistance at $0.11, indicating that this level is a significant barrier for the Dogecoin price.
A break above the $0.11 level would likely attract more buyers and could lead to a sharp upward move, pushing the price of DOGE toward new highs. In this scenario, Dogecoin might begin an up move at $0.12 and then to $0.14. At the time of writing, Dogecoin was down 2.91% in the last 24 hours to $0.105. If the decline is sustained and Dogecoin breaks below the daily SMA 50 at $0.102, the price could retest the $0.09 support.Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.
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