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Dogecoin price analysis
The bulls bought the dip on July 28, which shows that the sentiment remains positive and traders are buying the dips. The DOGE/USDT pair could gain momentum if the bulls push the price above the intraday high of July 25. The pair could then rally to $0.10 and then to $0.11.
On the contrary, if the price drops from the current level and dips below the 20-day EMA, it will indicate that the bears are selling on rallies. The pair could then slide towards the $0.07 breakout level.
The 4-hour chart shows that the pair is in an uptrend. The price broke below the 20-EMA, but the bulls bought the dip and pushed the price back above $0.08. If the bulls clear the top hurdle, the pair may continue its upward move.
The key support to watch on the downside is the 20-EMA followed by the 50-SMA. Sellers will have to push the price below the 50-SMA to gain the upper hand. The pair could then decline to the breakout level of $0.07.
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