Dogecoin Price Reaches New High But Struggles to Sustain Momentum as Bulls and Bears Battle for Control
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Dogecoin (DOGE) price reached a new yearly high on December 11 but has since fallen back below a key long-term resistance level.
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Price is currently trading inside a descending channel on the 6-hour chart, suggesting a breakout and retracement of the decrease is likely.
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If DOGE breaks out above $0.095 resistance, price could surge 12% to $0.105.
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Support is found around $0.087 area - a breakdown below here could see price fall 23% to $0.072.
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Despite recent decrease, daily RSI remains above 50 suggesting bulls still have some advantage.