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- Besides the whole crypto market showing positive momentum DOGE remains at the price level of $0.0018.
- The DOGE/BTC pair also performed negative with an overall loss of 2.31% bringing the level of 0.00000027 BTC.
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. This price level is proving to provide key resistance to Shiba Inu. However, the market forces can provide dogecoin a needed positive boost for breaking the resistance level of $0.0020.
The current price is at the level of $0.0018 with the market capitalization of $233,486,942 and volume traded of $168,545,377. The current circulating supply is 123,654,460,995 DOGE.
The short-term prediction for dogecoin is bullish. The only barrier for the altcoin will be the resistance level of $0.0020 and $0.0025. It showed its potential at the starting of February when it crossed the resistance level of $0.0030 and touched its year-high of $0.0035.
Dogecoin Technical Analysis
The Dogecoin price graph reflects on the magnitude of the downtrend faced by dogecoin since the past few days. Reaching at the support level of $0.0016 can be the advantage needed for the altcoin. However, the crypto market is not thinking the same.
The RSI is in the normal region but it is also rising towards the level of 60. Any further decline in the level below 40 will indicate that the altcoin might break below the crucial level of $0.0016. However, if it gains positive movement in the level above 60, the market can expect dogecoin to be back in positive movement.
The CCI also rising towards the overbought region which is not a good sign for the cryptoasset. After a successful positive divergence from the oversold region, dogecoin managed its CCI to be in the normal region. However, we can easily see that it is not being able to sustain on the level.
Resistance level: $0.0020 and $0.0025
Support level: $0.0016 and $0.0015
Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.
