Following three consecutive days of losses, Dogecoin experienced a slight rebound, rising 1.84% to $0.26 in the last 24 hours. This uptick coincides with the release of recent jobs data, which showed a lower-than-expected increase in non-farm payrolls. The cryptocurrency market has responded positively to the report, with Dogecoin attempting to recover from its recent dip below $0.30.
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However, Dogecoin's relief rally might be capped by selling at the $0.30 level. If the price falls from its present levels, bears may attempt to drive the Dogecoin price below $0.20. On the other hand, a break and closing above $0.30 would indicate that the bears had given up. That will indicate that a bottom may be in place. In this instance, Dogecoin may seek to break over the daily SMA 50 at $0.33 before extending the move to $0.434.
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