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- Dogecoin price prediction suggests that the memecoin is trying to surge towards the upper price range of the long term consolidation phase.
- DOGE crypto is currently maintaining itself at 20, 50, and 100-days DMA but is still below 200-days Daily Moving Average.
- The pair of DOGE/BTC is at 0.000004967 BTC with an intraday gain of 6.04%.
Dogecoin price prediction suggests the token’s recovery phase as it has started gaining towards the upper price range of the horizontal range bound area over the daily price chart. The token is still focusing on baby steps as it has caged inside the long term consolidation phase since April 2022. DOGE crypto has been continuously striving to recover itself out of the consolidation phase. However, the balance of buyers and sellers has slowed down the recovery of DOGE crypto. DOGE coin price needs to accumulate massive amounts of buyers in order to avoid the long term consolidation phase.
Dogecoin price is currently approximated at $0.082 and has gained 11.86% of its market capitalization in the last 24-hour period. Trading volume has increased by 2.82% during the intraday trading session. This indicates that buyers are trying to maintain this accumulation for DOGE to surge towards the upper price range.
Dogecoin price prediction suggests the token’s recovery phase inside the long term consolidation phase over the daily price chart. However, volume change can be seen below average and needs to grow for DOGE to successfully register its breakout from the long term consolidation phase. DOGE investors need to wait until the token shows some strong signs of recovery above the upper price range.
What do Technical Indicators suggest about Dogecoin Price?
As it is rising over the daily price chart, the dogecoin price prediction shows that the token is in its rebound phase. Technical indicators point to the price of Dogecoin being in an uptrend. To recover significantly over the daily price chart, DOGE cryptocurrency must rigorously adhere to this phase of recovery.
Relative Strength Index demonstrates the DOGE cryptocurrency’s upward velocity. At 31, the RSI is moving in the direction of neutrality. The DOGE coin’s upward momentum is visible on the MACD. A positive crossover is about to occur between the MACD line and the signal line upward.
Conclusion
Dogecoin price prediction suggests the token’s recovery phase as it has started gaining towards the upper price range of the horizontal range bound area over the daily price chart. The token is still focusing on baby steps as it has caged inside the long term consolidation phase since April 2022. DOGE investors need to wait until the token shows some strong signs of recovery above the upper price range.
Technical Levels
Support Level: $0.070 and $0.057
Resistance Level $0.093 and $0.10
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
