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- Dogecoin price prediction showcases the consolidation phase of DOGE crypto over the daily time frame chart.
- DOGE crypto is trying to maintain itself at 20-EMA to reach 50, 100 and 200-days Daily Moving Average.
- The pair of DOGE/BTC was at 0.000002647 BTC with an intraday drop of 1.30%.
While analysts anticipate DOGE might rally after its escape, dogecoin price prediction shows the sideways momentum of DOGE cryptocurrency. In order for Dogecoin price to maintain its upward momentum over the charts, it must maintain above the current resistance mark.
Analysts also affirm that Elon Musk, the multibillionaire and CEO of Tesla, has given DOGE strong support, which could propel the stock to new heights. According to analysts, the price of Dogecoin must achieve its peak recovery in 2023 and $0.1 by the middle of the year.
Dogecoin’s price was $0.07352 and over the previous 24 hours, it dropped 2.71% of its market capitalization. The intraday trading session saw a 9% drop in trading volume. Market capitalization to volume was 0.03787.
Dogecoin Price Prediction: Technical Analysis!
Dogecoin price forecast demonstrates the DOGE cryptocurrency’s sideways momentum over the charts. The facts surrounding DOGE cryptocurrency’s maximum recovery during 2023 are also confirmed by the dogecoin price prediction 2023. Analysts predict that Dogecoin’s price will start its recovery rally when it reaches the $0.10 mark in the middle of 2023.
While attempting to hit the 50, 100, and 200-day Daily Moving Averages, Dogecoin’s price is currently at $20. Additionally, the Dogecoin price quarterly report shows a 4.03% recovery rate, which is good. The price of Dogecoin has increased by 5.04% so far this year, supporting the accuracy of the 2023 price forecast.
The daily time period charts for Dogecoin show the price of the cryptocurrency is currently in a phase of consolidation. Technical indicators point to the DOGE cryptocurrency’s downward trajectory.
The price of Dogecoin is trending downward, as shown by the relative strength indicator. At 47, the RSI was approaching oversold territory. The price of Dogecoin is moving sideways, as shown by the MACD. After a positive crossing, the MACD line is higher than the signal line.
Investors in Dogecoin must hold off on making any purchases until the DOGE cryptocurrency starts to recover above the main resistance mark on the daily chart.
Summary
While analysts anticipate DOGE might rally after its escape, dogecoin price prediction shows the sideways momentum of DOGE cryptocurrency. Analysts also affirm that Elon Musk, the multibillionaire and CEO of Tesla, has given DOGE strong support, which could propel the stock to new heights.
Additionally, the Dogecoin price quarterly report shows a 4.03% recovery rate, which is good. Technical indicators point to the DOGE cryptocurrency’s downward trajectory.
Technical Levels-
Resistance level- $0.07800 and $0.090
Support level- $0.070 and $0.06910
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.
