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- With the whole crypto market showing positive momentum DOGE is attempting again for the price level of $0.0025.
- The DOGE/BTC pair performed negative with an overall loss of -3.00% bringing the level of 0.00000029 BTC.
As dogecoin was suffering price consolidation since and broke the barrier of $0.0020 the past week, on the 7day-weekly chart it started with the price level of $0.0020 and had a top price level of $0.0023. 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 $0.0025.
The current price is at the level of $0.0023 with the market capitalization of $296,486,942 and volume traded of $263,545,377. 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 $0.0025. 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
The dogecoin price chart reflects on the bearish momentum build by Shiba Inu from the starting of April. The downtrend was very significant for the altcoin which can be easily noticed in the graph which is later followed by significant price recovery.
DOGE was facing price consolidation between the price range of $0.0015 and $0.0020 and the break above $0.0020 indicated a major bullish momentum upcoming for the cryptoasset.
The technical indicators and oscillators somewhat favor the bulls.
The MACD levels are in the bullish zone and show slightly negative nature with a bearish cross made in the bullish zone.
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.
Resistance Level: $0.0023 and $0.0025
Support Level: $0.0020 and $0.0018
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.
