While crypto markets are generally falling, some altcoins may experience exceptional rallies. We can see this in a popular altcoin in the coming hours. Which altcoin can rise while Bitcoin price is below $20,000? What support and resistance levels should traders watch?

Dogecoin (DOGE) finds buyers at $ 0.0634 at the time of writing. Its market cap is $8.26 billion and trading volume has dropped 25% in the last 24 hours. Due to the negative course of Bitcoin, DOGE has moved between $ 0.06 and $ 0.088 in the last 30 days. While it hasn't taken full advantage of the July recovery, it remains relatively strong to others.

Dogecoin Doge-3

In the short term, Dogecoin (DOGE) price continues its consolidation in a narrow range. However, the lower time frame chart points to a bullish reversal pattern that helps buyers form a recovery rally.

For the dollar, Dogecoin witnessed a 32.4% drop amid its August third-week sales. But the psychological support level of $0.06 was preserved. This support level stopped the correction phase and the price formed a narrow consolidation between $0.065 and $0.06. A short body candle with rejection candles on either side reflects the uncertainty in market sentiment. The four-hour timeframe chart shapes the narrow consolidation into a rounding subpattern. According to the technical setup, this uptrend will encourage buyers to bounce back from the $0.06 support.


Traders will need to watch for a bullish breakout from the neckline resistance at $0.065 resistance. This move will accelerate the bullish momentum in the price and signal the resumption of the recovery rally. Dogecoin investors can see the $0.075 level after this breakout. Conversely, if the sellers continue to defend the $0.065 level, the Doge price could slide below the $0.06 support. In this case, the most important support to stop the decline will be $0.05. In the short term, the $0.65 and $0.075 levels can be viewed as resistance, and the $0.06 and $0.05 levels as support.