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DOGE Hits 1-Month High to Start the Weekend – Market Updates Bitcoin News


Dogecoin surged to a one-month high at the start of the weekend, as the market recovered slightly on Saturday. The token rallied as much as 10% in today’s trading session, breaking through a key resistance in the process. Solana is another notable gainer, as it hit an 11-day high.

Dogecoin (DOGE)

Dogecoin was one of the most notable movers on Saturday, as the meme surged to a one-month high during today’s trading session.

After Friday’s low of $0.05974, DOGE/USD rallied to an intraday high of $0.06797 to start the weekend.

As a result of today’s rise, the token broke through the critical resistance of $0.06540, rallying to the highest level since Aug. 26 in the process.

DOGE/USD – Daily Chart

Looking at the chart, DOGE has slipped off the previous high, as the 14-day relative strength index (RSI) hit its own ceiling.

As written, the index is currently tracking at 56.59, slightly below the 57.00 resistance.

Currently DOGE is trading at $0.06572, slightly above its aforementioned $0.06540 ​​price ceiling.

If the bulls attempt to push the token back past this point, a breakout in the RSI will be needed first.

Solana (SOL)

Aside from dogecoin, solana (SOL) is another notable gainer in today’s session, as the token moves closer to its own resistance level.

SOL/USD rallied to a high of $34.70 earlier today, seeing prices move higher for the third straight session.

As a result of today’s top, the world’s ninth-largest cryptocurrency climbed to its strongest point since September 13.

SOL/USD – Daily Chart

The bulls now look set to take the price even higher, with a ceiling of $36.50 a possible target, if this week’s momentum continues.

Despite high volatility in the crypto market this week, SOL is trading 4% higher than it was at the same time last week.

The 10-day moving average (red) also seems to have crossed over the 25-day level (blue), which could signal that further gains are ahead.

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Can Solana hit $40.00 before the end of the month? Let us know your thoughts in the comments.

Eliman Dambell

Eliman brings an eclectic perspective to market analysis, formerly a brokerage director and retail trading educator. Currently, he works as a commentator on various asset classes, including Crypto, Stocks, and FX.




Image credits: Shutterstock, Pixabay, Wiki Commons

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