Dogecoin (DOGE) Price Analysis: Dogecoin Price Shows Sustainability Over $0.0020 To Avoid Break Below The Level

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.
  • With the whole crypto market showing positive momentum DOGE is stuck again for the price level of $0.0020.
  • The DOGE/BTC pair also performed positively with an overall gain 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 a price level of $0.0015 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 $0.0020 with the market capitalization of $244,486,942 and volume traded of $251,545,377. 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 $0.0020 and $0.0025. It showed its potential at the starting of this month when the crypto asset crossed the major resistance level of $0.0020 with significant bullish momentum. 

Dogecoin Technical Analysis 

Screenshot (259)
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 was facing price consolidation between the price range of $0.0015 and $0.0030. The significant downtrend in yesterday’s market was also unable to break the price bracket as the cryptoasset got the major support level of $0.0020. 

The technical indicators and oscillators somewhat favor the bulls. 

The MACD levels are in the bullish zone after downtrending to a 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 and remains vulnerable to the overbought region, which indicates that there’s still some buying left for the altcoin in the market. 

Resistance Level: $0.0020 and $0.0023

Support Level: $0.0015 and $0.0014

We Recomaned

Top Rated Trading Platforms

Top Rated Cryptocurrency Exchange