Dogecoin traders are also actively buying that just broke through the first resistance line
As most altcoins in the market are going through a recovery phase, Dogecoin traders are also actively buying as DOGE price just broke through the first resistance line on the daily chart. At the time of writing, DOGE is changing hands at $0.1363.
DOGE/USD 4-hour chart | Source: TradingView
Dogecoin fights for a new trend
One of the first resistance lines for almost any asset is the 21-day Exponential Moving Average, which remains below the 50-day moving average. This will be the fifth test of the resistance above the line.
While DOGE previously consolidated above the resistance line, it has yet to enter a long-term uptrend after breaking it, so the market is not ready to support the first memecoin rally. Previously, Dogecoin’s move above resistance was rejected by the market, but thanks to the rally on altcoins like Cardano and Ethereum, DOGE almost immediately retested resistance.
At press time, DOGE trades at $0.1363 after pulling back from $0.1256. To complete a full retracement, Dogecoin will at least need to break the 50-day moving average and sustain the price above $0.13.
Despite the price action of altcoins like Cardano, Ethereum Classic, and others, the memecoins trending in 2021 is going through a rough patch as Shiba Inu is still in a strong downtrend.
Before that, SHIB entered a reversal pattern, known as a descending triangle, which could signify that the asset has a chance to break out of a long-term downtrend and eventually reverse.
One of the first Dogecoin competitors, Shiba Inu, has not shown any positive performance in price since hitting ATH in October. The token currently trades at $0.00002329.
DOGE payment now accepted by Manhattan Dental Firm
The high-end dental clinic in Manhattan, New York, Upper East Dental Innovations currently accepts Dogecoin (DOGE), Bitcoin, and Ethereum.
Dr. Sharde Harvey, the dentist who owns Upper East Dental Innovations and leads its team of doctors, claims that she is a huge proponent of modern technologies. She sees cryptocurrencies as the next stage in the evolution of money, claiming that it is cheaper, faster, and more efficient than fiat currencies.
Dental clinics offer a wide range of cosmetic and restorative dental services. Its proprietary Galileos 3D imaging system performs comprehensive diagnostics by generating panoramic and cephalometric images.
On its website, Upper East Dental Innovations boasts the ability to deliver permanent crowns to customers during lunchtime instead of requiring multiple visits like most of its competitors. Dr. Harvey was the first dentist to perform same-day crowns.
Read more:
- Dogecoin Among Altcoin Recovery Rally Beneficiaries
- Dogecoin Whale Has Moved $29.6 Million Worth Of DOGE For A Transaction Fee Of Little Over $0.11