Dogecoin Price Sustaining On $0.0020 Level With Overall Bullish Market

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.
  • DOGE sustains the price level of $0.0020 when the whole crypto market showing positive momentum.
  • The DOGE/BTC pair, however, performed negative with an overall loss of -0.31% bringing the level of 0.00000028 BTC.

    Capture
    Source: Coinnarketcap

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 provided dogecoin a needed positive boost for breaking the resistance level of $0.0020.

The current price is at the level of $0.002034 with the market capitalization of $250,486,942 and volume traded of $163,545,377. The current circulating supply is 124,654,460,995 DOGE. 

The short-term prediction for dogecoin is bullish. The only barrier for the altcoin will be the resistance level of $0.0023. 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 (DOGE) Price Analysis

doge
Source: Tradingview

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 positive nature and is about to reach a bullish level of 60. 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 and there’s time for profit booking stage among the investors. 

Resistance Level: $0.0023 and $0.0025
Support Level: $0.0015 and $0.0014

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