Dogecoin (DOGE) Price Analysis: Dogecoin Price Consolidated Over The Level of $0.0018

  • Dogecoin is again on positive movement in today’s market but not that significant which can help the altcoin to beat the major resistance level of $2.00
  • The DOGE/BTC pair also performed negative with an overall loss of 0.31% bringing the level of 0.00000028 BTC.

Source: Coinmarketcap

As dogecoin is suffering price consolidation since the past week, on the 7day-weekly chart it started with the price level of $0.0017 and had a top price level of $0.0020. The pricing consolidation is preventing Shiba Inu to take giant positive leaps in the market to cross the crucial resistance level of $0.0020.

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The current price is at the level of $0.0018 with the market capitalization of $225,486,942 and volume traded of $16,545,377. The current circulating supply is 123,654,460,995 DOGE.

If the altcoin is successful in breaking the crucial resistance level, investors can target for this cryptoasset in their short term duration as bullish. 

Dogecoin Technical Analysis

Screenshot (135)
Source: Tradingview

The dogecoin price chart reflects on the bearish momentum build by shiba inu from the starting of March. The significance of the downtrend can easily be noticed in the pricing graph. 

DOGE is facing price consolidation between the price range of $0.0017 and $0.0020. The significant positive move in yesterday’s market was also unable to break the price bracket as the cryptoasset got the major resistance level of $0.0020.

The technical indicators and oscillators somewhat favor the bulls. The MACD levels have again reached the bullish zone after downtrending to the bearish zone. This is certainly a good indication for dogecoin holders

The 24hour- RSI is also showing positive nature and is about to reach the bullish level of 60. This also favors the bulls.

The CCI managed to have negative divergence avoiding the overbought region, which indicates that there’s still some selling left for the altcoin in the market.  But the positive nature of the level may provide it a much-needed boost.

Resistance Level: $0.0020 and $0.0025
Support Level: $0.0017 and $0.0015

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Vasu Singhal
Vasu Singhal is a management student and a stock market trader. He believes that investment avenues and opportunities are very diversified. Therefore, he has an interest in blockchain technology too. He likes to evaluate best investments available in the financial market with showcasing the required skills.

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