Dogecoin Getting Ready for Rally as It Breaks This Resistance

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Dogecoin Getting Ready for Rally as It Breaks This Resistance
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DOGE reaches 21 EMA resistance, which is the first barrier before long-term reversal

One of the first resistance lines on almost any asset's way up is the 21-day Exponential Moving Average, which remains below the 50-day moving average. It would be the fifth test of the abovementioned resistance line.While DOGE previously consolidated on the resistance line, it still has not entered a long-term uptrend after breaking it so the market is not yet ready to support the rally on the first memecoin.

Previously, Dogecoin's move above the resistance was rejected by the market, but thanks to the rally on altcoins like Cardano and Ethereum, DOGE almost immediately retested the resistance.trades at $0.1219 after retracing from $0.1256. To complete a full retrace, Dogecoin would need to at least break through the 50-day moving average and maintain the price level above $0.13.

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