Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion

• Liquidity on DOGE’s charts existed at $0.065. 
• The funding rates remained positive. 

Dogecoin’s [DOGE] price performance remained below single-digit gains during the ongoing recovery. It posted 4% gains in the week of 16 – 22 October. The recovery was extended in the past two days (23-24 October) and climbed above a resistance level of $0.0647. 

Read Dogecoin’s [DOGE] Price Prediction 2023-24 

Meanwhile, Bitcoin [BTC] hit $35k as bullish bets swung amidst hints of BlackRock’s readying for BTC ETF approval.  However, BTC’s sharp upswing didn’t push DOGE beyond $0.070. Can DOGE bulls drive another leg of recovery? 

Bulls eyed $0.065 area

On the charts, liquidity was at $0.065, the area marked in white. Interestingly, the level sat above the previous resistance of $0.0647.

At press time, price action was above the $0.065 liquidity area but hadn’t moved beyond $0.070. The alignment of liquidity and previous resistance could make the level ideal for near-term bulls to seek re-entry. 

A rebound at the liquidity will offer 11% gains if the jump extends to the overhead hurdle and breaker block at $0.075(red).  Alternatively, sellers’ leverage will be confirmed if price action retreats below $0.063 and the liquidity area.

The immediate support

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Author: Benjamin Njiri

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