Dogecoin Sprints To Fresh One-Month High: Where’s The Next Point Of Resistance?

rear bitcoin Bitcoin/USD Spike, it looks like it’s your turn dogecoin Doge/US Dollar To keep up with vertex ciphers.

What happened: After bottoming out in late 2022, DOGE started a short-term uptrend at the beginning of the new year. It reached the resistance area near $0.0918 on Jan. 14 but failed to break out of it.

After trailing some gains, Meme Crypto has found support near $0.08. Since Friday, Doge has picked up momentum amid a general rise in risk appetite. It traded between $0.0808 and $0.0868 on Friday.

After hitting an intraday high of $0.887 on Saturday, DOGE closed the session at $0.0848. Coming into Sunday, the uptrend picked up and the cryptocurrency pushed him above the $0.090 level to its highest level since mid-December.

See also: Is Dogecoin a good investment?

Important reasons: Dogecoin’s rise on Sunday came despite Bitcoin’s rally losing momentum. The rally could be a technical move as cryptocurrencies approached short-term resistance. The rally was not accompanied by a recovery in volume, probably due to the typical low volume trading seen over the weekend.

At the last check, Dogecoin rose 8.75% to $0.09221 in 24 hours, according to Benzinga Pro data.

READ NEXT: Analyst Says Bitcoin Surge Is Just Beginning, Expects This Price Target By February

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