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Unleashing The Potential: A Technical Analysis of Dogecoin Future

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Dogecoin Price Prediction
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  • The Golden Crossover is about to occur on a daily time frame.
  • A good investment option for short-term investors.

The 50 EMA (the blue line) and 200 EMA (the green line) are where the price is currently trading. There is a chance that we will soon witness a Golden Crossover which would be good news for DOGE. Following the crossover, we can anticipate an enormous rally upside.

Dogecoin on daily chart

Source: TradingView
Source: TradingView

The chart’s horizontal line demonstrates that the coin has resisted several times at these levels and has consistently shown a pullback after reaching these levels.As a result, we may expect to see a bull move to its next nearby resistance or $0.1059,after a brief consolidation at current levels and a breakout.

 MACD – The MACD has produced a bullish cross. On the Dogecoin daily chart, the MACD’s bullish crossover suggests an uptrend.

 Relative Strength Index (RSI) – The RSI curve has crossed the 50-point threshold at 64.11.Due to the rise in coin values, the RSI curve value has grown. If the price increases even further, the RSI curve could soar far higher.

Analyst views and expectations

Long-term investors should wait until a Golden Crossover takes place because at present the coin does not look a good investment option for them. However , short-term investors can still make money by investing at the current levels.

 According to PricePrediction, the DOGE price could range between $0.11 and $0.17 on average in 2023. Based on its thorough artificial intelligence-assisted technical analysis, Price forecast’s dogecoin price prediction for 2025 suggested that the coin might increase to $0.24.

The DOGE price forecast from CoinPriceForecast was far less optimistic. Dogecoin’s value was predicted to increase from $0.1420 at the end of 2023 to $0.1446 at the end of 2025 and $0.2632 at the end of 2030.

According to WalletInvestor dogecoin price forecast in 2023,it might fall to $0.00782 by January 20,2024.

Based on historical data, DigitalCoinPrice predicted that the price of dogecoin would average $0.16 in 2023,$0.19 in 2024 and $0.29 in 2025.According to the website’s dogecoin price forecast for 2030,the price may increase to an average of $0.61.

Technical Levels

Major resistance -$0.1385

Major support -$0.0575

Conclusion

The coin looks good for short-term investment at current levels.

Disclaimer: The opinions represented in this work along with any other opinions are presented primarily for informative purposes and are not intended to be taken as investment advice.

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