Dogecoin Moves Higher After Yesterday’s Sell-Off
Dogecoin received support near $0.2350 and is trying to gain upside momentum as Bitcoin rebounds after yesterday’s sell-off.
On Monday, the world’s leading cryptocurrency made an attempt to settle below the important support level at $44,000 but failed to develop sufficient upside momentum and moved back above the 50 EMA which is located at $45,200.
Currently, Bitcoin is trying to settle above the resistance level at $46,000. In case this attempt is successful, Bitcoin will gain additional upside momentum which will be bullish for Dogecoin and other cryptocurrencies.
Dogecoin failed to settle below the support level at $0.2350 and is trying to get to the test of the resistance at $0.24. RSI is in the moderate territory, and there is plenty of room to gain upside momentum in case the right catalysts emerge.