Dogecoin (DOGE) Snaps Losing Streak, Bulls Push Price Higher
After three days of losses, Dogecoin (DOGE) saw a rebound on Saturday as bulls pushed the price away from a recent support level.
Following a low of $0.06284 on Friday, DOGE/USD reached a peak of $0.06382 earlier in the day.
Today’s gain in price allowed the meme coin to move beyond its previous floor at the $0.0620 region.
However, the momentum has not completely shifted to the bulls as the relative strength index (RSI) remains below a ceiling of 44.00.
Currently, the index is at 42.18, and there is the possibility of a crossover of moving averages, which could serve as a signal for bulls to reenter the market.
Stellar (XLM) Continues to Gain, Breaking Key Ceiling
Stellar (XLM) has extended its recent gains for a fourth consecutive day, breaking through a significant resistance level in the process.
XLM/USD reached a peak of $0.1328 at the start of the weekend, following a low of $0.1242 on Friday.
Today’s move has brought Stellar to its highest point since August 16, when the price peaked at $0.1364.
The 10-day and 25-day moving averages are now on the verge of an upward cross, suggesting the possibility of further upward movement for the token.
Bulls seem to have their sights set on a higher resistance level at $0.1400.
Hot Take
Dogecoin and Stellar both experienced positive price movements, with Dogecoin breaking its losing streak and Stellar extending its gains for a fourth day. While the momentum is not fully in favor of the bulls in both cases, there are potential signs of a bullish market. For Dogecoin, a crossover of moving averages could signal an opportunity for bulls to reenter the market. As for Stellar, the upward cross of the moving averages suggests the possibility of further price increases. It will be interesting to see how these two cryptocurrencies perform in the coming days and whether they can maintain their upward momentum.
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