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16 Jun 23:58 Dogecoin (DOGE) Comment
The bears attempted to continue the decline by pushing Dogecoin below the strong support at $0.06, but the bulls bought the dip as seen from the long tail on the candlestick.
Buyers will try to start a relief rally that can reach the 20-day EMA ($0.07). This remains a formidable hurdle for the bulls to overcome as the bears have repeatedly stopped attempts to recover from this level since April 20. DOGE investors can also smile if BTC performs as expected over the weekend.
On the downside, the $0.06 level is an important support for the bulls' defense because if it gives way, the price could slide as low as the next support zone at $0.05. Conversely, a break above the 20-day EMA will raise the $0.08 target.
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