- With the whole crypto market showing positive momentum DOGE crosses the price level of $0.0020.
- The DOGE/BTC pair also performed negative with an overall loss of -0.31% bringing the level of 0.00000029 BTC.
As dogecoin was suffering price consolidation since the past week, on the 7day-weekly chart it started with the price level of $0.0018 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 $0.002013 with the market capitalization of $250,486,942 and volume traded of $189,545,377. The current circulating supply is 124,654,460,995 DOGE.
The short-term prediction for dogecoin is bullish if the cryptoasset manages to sustain over the price level of $0.0020. The only barrier for the altcoin will be the resistance level of $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 chart reflects on the bearish momentum build by Shiba Inu from the starting of March. The downtrend was very significant for the altcoin which can be easily noticed in the graph.
DOGE is facing price consolidation between the price range of $0.0015 and $0.0020. The significant uptrend in yesterday’s market was able to break the price bracket as the cryptoasset climbed to the price level of $0.0022.
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 negative nature and is about to reach a neutral level of 50. This also favors the bulls.
The CCI managed to have positive divergence avoiding the oversold region, which indicates that there’s still some buying left for the altcoin in the market.
Resistance Level: $0.0023 and $0.0025
Support Level: $0.0015 and $0.0014
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.