The support at $0.07100 has been retested thrice, twice in November and once in December. But can it hold firm for bulls to launch a price recovery?
The Relative Strength Index has been rejected twice whenever it hit near the 30-level. If the trend repeats, RSI rejection at this level could signal a price reversal. The RSI rejection and an upward move would signal an increased buying pressure that could boost DOGE bulls. The stop loss would be placed below $0.06930. A break below this support will indicate leverage to bears and an invalidation of the above forecast. As such, investors would have to close their long positions. This downward move would see DOGE settle on new support at $0.06559.
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