The trading price of Bitcoin has sunk significantly in the past couple of days. Its value dipped to $15,500 in the mentioned period of time but the bulls fought back to push it higher.

As the price of BTC fell to a low of $15.5k, the bulls pushed it with their strong buying sentiments. Their buying power was able to push Bitcoin back to a high of $16,200.

Even though the trading price of Bitcoin rose to $16,200, it failed to rise up to the higher range that is expected to be from $16,500 to $16,700.

Dogecoin has Followed Bitcoin

This is where Dogecoin (DOGE) has followed Bitcoin (BTC) as it experienced a dip only to experience a rebound the next moment.

The trading value of the largest meme coin surged by 15% and it experienced a boost in the past 36 hours.

Although the price of DOGE experienced a rebound, it was not able to make it up to the resistance zone of $0.078 to $0.082.

The moment, the trading price of DOGE would come close to the level, it would experience a dip. The price chart shows that the dip was quick and would see the price of DOGE fall to $0.073.

Even at the time of writing, the trading price of DOGE is hovering at $0.073.

Resistance Levels for Dogecoin

At the moment, the three stiffest levels for DOGE in terms of resistance are $0.0835, followed by $0.089, and then it is $0.0946.

As of now, the market trend for Dogecoin is siding with the bearish sentiments. The RSI for DOGE did show experience a rise over the mid-level (50) but it may also move in the bearish territory.

There is now a strong possibility that the trading price of DOGE may soon start moving in the negative zone again. The bearish sentiments are still strong and they may continue driving the trend.

Caution for DOGE Investors

Just like Bitcoin, Dogecoin investors must remain cautious about making investments. They must not go all out with their investments and be very vigilant in the next couple of days.

The situation may move in a negative direction and if it does, they may suffer from losses. For now, both sides have not displayed their power.

According to analysts, investors must remain cautious for a day or two before they start making investments in DOGE.

November was Mainly Bullish

Despite the recent pullbacks, the trading price of DOGE has mainly remained bullish. So far in the month of November, DOGE’s weighted growth has been 4.3%, which is a positive indication.

If the bulls do take control of DOGE in the latter part of November, then its price may surge to a high of $0.094.