Technical outlook:
Dogecoin has raised through $0.0670 highs intraday on Tuesday before pulling back slightly. The crypto has rallied in line with projections as bulls now remain poised to get past $0.0900 resistance marked on the chart. Prices now need to stay above the $0.0490 mark to keep the structure going forward.
Dogecoin has been dropping since May 2021 after registering all-time highs around the $0.7560 mark. The entire drop between $0.7560 and $0.0490 looks like a corrective zigzag. Moreover, prices have dropped through previous support around $0.0480 levels indicating at least a potential pullback if not a trend reversal.
Dogecoin is facing immediate resistance around $0.0900, followed by $0.1798 and higher; while interim support is seen around $0.0490 levels. A break above $0.0900 is required to confirm that bulls are back in control and a potential trend has reversed. Traders might be preparing to hold long positions against the $0.0490 mark.
Trading plan:
Potential rally through $0.0900 against $0.0490
Good luck!
