Biggest Movers: DOGE Rallies, After Bouncing From Key Support Point

Dogecoin was a notable mover on Friday, as the meme coin rebounded from a key support point. The move came after two consecutive days of declines, pushing price near a two-month low. Solana also ended a losing streak in today’s session.

Dogecoin (DOGE)

Dogecoin (DOGE) rose higher in today’s session, after the meme coin snapped a recent losing streak.

DOGE/USD climbed to a peak of $0.05873 earlier in the day, after falling to a low at $0.05747 the day prior.

The move comes after dogecoin dropped close to a floor at $0.0580, with bulls choosing to reject this breakout.

Since hitting this support level, it now seems that the next target could be at resistance of $0.0595.

On closer inspection of the chart, it appears that the relative strength index (RSI) also rebounded from a floor of its own at 31.00.

The index is now at a reading of 33.20, with the next level traders might target at 35.00, which seems to be an interim ceiling.

Solana (SOL)

Solana (SOL) also climbed higher on Friday, after falling to a two-week low during Thursday’s session.

Following a drop to a low of $21.07 yesterday, SOL/USD rallied to an intraday peak at $21.59 earlier today.

Similar to dogecoin, bulls bought the dip, after the token neared a support level of its own at the $21.00 mark.

Earlier gains have somewhat eased, which comes as price strength hovers around a floor of 50.00.

Should this level hold firm, there is a good chance that traders look to take solana back above $22.00 this weekend.

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Do you expect bullish sentiment to intensify this weekend? Let us know your thoughts in the comments.

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By: Eliman Dambell
Title: Biggest Movers: DOGE Rallies, After Bouncing From Key Support Point
Sourced From: news.bitcoin.com/biggest-movers-doge-rallies-after-bouncing-from-key-support-point/
Published Date: Fri, 13 Oct 2023 15:53:00 +0000

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