![Going long on Dogecoin [DOGE]? Here’s what you need to know](https://i.headtopics.com/images/2023/1/22/cryptoamb/going-long-on-dogecoin-doge-here-s-what-you-need-t-going-long-on-dogecoin-doge-here-s-what-you-need-t-1616926867956563975.webp)
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion DOGE could aim at its December high in the next few weeks. Long-term holders of the memecoin saw gains. Like most altcoins, Dogecoin [DOGE] rallied in the new year. It rose from $0.06756 to […]
The On Balance Volume has risen since the beginning of the year, boosting buying pressure and DOGE prices. At press time, the Relative Strength Index was 61 after retreating from the overbought zone and making a U-turn, showing strong bullish momentum.
The above bullish bias will be invalidated if bears push DOGE below the demand zone around $0.08000. Such a downswing could find a steady hold at $0.07500.According to Santiment, DOGE’s recent rally saw long-term holders enjoy brief gains around 12 January. However, the gains dipped, and losses were incurred before another round of recovery offered smooth tidings.
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