Dogecoin (DOGE) has continued its range-bound movement. Yesterday, April 2, 2021 DOGE rebounded above the $0.055 support and retested the upper price range. Now, the altcoin is fluctuating between levels 0.040 and $0.070.
Dogecoin has been in a downward move after attaining a peak price of $0.0888. After rejection from the recent high, the coin fell to $0.0505 low as price corrected upward. The price correction was terminated at a high of $0.0649.
In recent times, most cryptocurrencies are faring well as the cryptos trade in bull markets. The recent surge of Bitcoin has pushed the listed coins to rise. Dogecoin and Skycpoin are making impressive runs. The coins are likely to be out of the downtrend zone with a break above their respective resistance lines.
In the week under review, DASH, Dogecoin, Cardano, and TRON were previously making positive moves. In recent times, all the coins have dropped in value as the coins hit the overbought region. Stellar also is in a downward movement as it reaches the overbought condition.
Undoubtedly, the coins under review were in consolidation in December but are making a surprising bullish move. DASH, Dogecoin, Monero, and Cosmos broke over EMAs which is a positive sign that the coins are going to rise. Meanwhile, Stellar is consolidating above $0.045low and it has failed to rebound.
The cryptocurrency market has reached bearish exhaustion as Dogecoin and NEO have already shown. NEO has breached the resistance line and fled to the lower high. Lack of demand at a higher price level frustrated the bullish move. The downward move on Monero and Stellar may have been overdone as the coins consolidate at the bottom. ChainLink is in a range bound movement