Dogecoin followed the markets movements over the weekend but failed to break outside of the range it has been trading in for the ten days.
The range has a lower support level of $0.002 and a resistance level at $0.0023.
$0.002 to $0.0023 has been an important range for Doge in past trading.
The price of Doge traded within this range for three weeks prior to spiking with the rest of the market in mid-December.
Prices rose across the market on Saturday before following up with a bearish move on Sunday which erased all gains.
While the market leader Bitcoin managed to overcome resistance at $3684, Doge only managed to rise as far as $0.0022.
Prices have since been trading more bearish and testing the lower bounds of the range at $0.002.
The previous time that Doge traded in this range, prices moved outside the range on numerous occasions but failed to close outside until the significant spike in mid-December.
It is also likely that Doge will exit the range on this occasion with a significant move.
When prices continue to trade in a range for a prolonged period of time, it often exits the range with a significant move.
- The price of Dogecoin has been trading in a range from $0.002 to $0.0023
- Prices of Doge moved along with the market over the weekend rising on Saturday and following up with a bearish drop on Sunday
- Doge may exit the range with a significant move similarly to how it exited the same range in mid-December
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