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Dogecoin Price Retests 100 SMA Again – Here’s What It Means For Price

  • Dogecoin experienced a turbulent price action over the weekend, briefly dropping below $0.15 before rebounding.
  • The cryptocurrency is now retesting the 100-week Simple Moving Average (SMA), a significant support line for over a year.
  • The 100 SMA has historically served as a crucial technical floor for Dogecoin, leading to quick recoveries and uptrends when breached.
  • Trader Tardigrade, a crypto analyst, highlighted the importance of the 100 SMA for Dogecoin's price action on social media.
  • Maintaining above the $0.145 to $0.151 support zone is crucial for Dogecoin to sustain bullish momentum.
  • Reclaiming the $0.153 to $0.16 resistance range could signal a potential rally from the 100 SMA towards $0.19 to $0.21.
  • Dogecoin is currently trading at $0.1547, showing a 2% decrease in the last 24 hours.

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