According to the esteemed crypto analyst Kaleo (@CryptoKaleo), Dogecoin (DOGE) has recently exhibited remarkable resilience. In a recent tweet, Kaleo confidently stated that it’s only a matter of time before the DOGE/BTC ratio surges past its current resistance levels.
According to the latest update from CoinMarketCap, DOGE has experienced a 2.84% increase in price over the past 24 hours. This impressive performance has propelled the meme-inspired cryptocurrency’s weekly price performance to a remarkable +8.16%. As a result of this recent surge, DOGE is currently trading at $0.09144.
Bitcoin (BTC) has experienced a 24-hour loss of 1.45%, with its weekly price performance also showing a decline of -1.93%. As a result, the market leader’s price has fallen below the $30k level and is currently trading at $29,493.40. These developments indicate a challenging period for BTC, and investors will closely monitor the market for potential shifts in the coming days.
Over the past 24 hours, DOGE has exhibited a notable surge in strength against BTC, with a 4.32% increase, according to CoinMarketCap. Impressively, DOGE has also demonstrated its resilience against Ethereum (ETH), boasting a 3.37% increase in value against the leading altcoin. These developments are indicative of DOGE’s growing prominence in the cryptocurrency market.
In a remarkable feat, DOGE has successfully surpassed the resistance level at $0.00000305 BTC and transformed it into a solid support level within the past 48 hours. Adding to this positive development, the daily chart for DOGE/BTC shows a promising short-term bullish signal as the 9-day EMA line has crossed above the 20-day EMA line. This indicates that DOGE is poised to maintain its upward momentum against BTC in the next 24-48 hours.
If this optimistic sentiment proves accurate, DOGE is poised to surge towards the next resistance level of approximately $0.00000356 BTC shortly. To ensure a strategic entry point, traders are advised to wait for DOGE to conclusively surpass the recently-flipped price level of $0.00000305 BTC before initiating a long position for DOGE/BTC.
Disclaimer: The insights, perspectives, and data presented in this price analysis are published in good faith. Readers must conduct their own research due diligence. Any decision made by the reader is solely their responsibility, and Crypto Outlooks shall not be held responsible for any consequential or incidental harm or loss.
