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- 1 Dogecoin price prediction is still favoring the bulls till it holds $0.06000
- 2 DOGE price slipped below 50 and 200 day
- 3 Dogecoin cryptocurrency price had entered oversold zone and might witness a relief rally in coming months
Dogecoin price prediction for the coming months still remains in the direction of bulls despite tensions going all around the cryptocurrency market. The Dogecoin price structure seems to be stuck into a wide range of consolidation and bears are trying their best to pull the price downward. According to the report of Doge Whale alert, In the past 16 hours, two crypto transfers have been detected which carried massive amounts of Dogecoin.
DOGE Price is bullish for the long term as well as for short term but the drama going in Crypto Bank Silvergate is disturbing the overall sentiment of the crypto currency market which might be one of reasons why short term investors and traders should be careful while investing in popular meme Dogecoin.
Currently, DOGE/USDT is trading at $0.07552 with an intraday gains of 1.21% and the 24-hour volume to market cap ratio at 0.0294 while the DOGE/BTC pair is trading at $0.00000336
Will Dogecoin price bounce back ?
Dogecoin (DOGE) price has shown a mild upside movement of 1.05% after the whales have transacted. Moreover, In mid of January, Dogecoin prices have managed to climb above the 50 and 200 day EMA which has triggered the mild positive sentiment and prices rallied 21% approx in the short period of time. Later, DOGE prices also attempted to break out of the swing high hurdle at $0.11000 but unfortunately, the DOGE bear came forward and started selling aggressively from the supply zone.
Dogecoin prices fell 26% approx from the recent peak which has created concern for the short term traders but the DOGE bulls have still managed to defend the support level of $0.06604 intact which will act as a strong demand zone in coming if the correction is continued in the Doge prices.
The technical indicators of the Dogecoin like MACD has generated a negative crossover indicating bearishness to continue for more time whereas the RSI at 35 reversing upward from the oversold zone might trigger a short term relief rally in the coming days.
Conclusion
DOGE price prediction reveals the Dogecoin prices are stuck into a wide range of consolidation and likely to give sharp one sided momentum when it breaks out on either side. Dogecoin technical indicators are mild bearish but if overall market sentiment improves then it is expected to see bounce back from the support zone mentioned below
DOGE Technical levels
Resistance levels : $0.09050 and $0.09998
Support levels : $0.06604 and $0.06000
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
