Dogecoin rose to a one-week high on Tuesday, as the meme coin rebounded from recent losses. The token rose by as much as 3% earlier in today’s session, moving away from a recent point of support in the process. Monero was also higher, as bulls pushed it closer to a key resistance level.Dogecoin was trading higher during Tuesday’s session, as bullish sentiment returned to the market.
Earlier in today’s session, DOGE/USD raced to an intraday high of $0.06098, which comes less than 24 hours after trading at a low of $0.05907. Today’s surge saw DOGE move away from a recent price floor of $0.0585, where it has mostly consolidated since late September.Looking at the chart, one of the triggers of this rise in price was a breakout which took place on the 14-day relative strength index .
The index moved past its recent ceiling of 50.00, which has been in place since October 9, and it is now tracking at 51.19. It also appears that the 10-day and 25-day moving averages could cross over, which may also trigger further upward movement.
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Hmm, we hope to see the maximum this week!
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$MATIC is inches away from passing it in marketcap. Enjoy meme coin season while it lasts. True utility is on the way.