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- Dogecoin price prediction showcases the DOGE crypto’s falling momentum over the daily time frame chart.
- DOGE crypto has slipped below 200-days DMA and is trying to sustain at 20-EMA to remain above 50 and 100-days DMA.
- The price of DOGE/BTC was at 0.000002947 BTC with an intraday drop of 4.43%.
Dogecoin price prediction shows the cryptocurrency’s downtrend movement, despite experts’ predictions that DOGE will most certainly rally after its escape. To continue rising upward over the charts, the price of Dogecoin needs to hold above the current resistance level.
Analysts claim that DOGE has received tremendous support from Elon Musk, the billionaire CEO of Tesla, which might propel the cryptocurrency to unprecedented heights. The price of Dogecoin is expected to increase in 2023 and reach $0.1 by the middle of the year, according to analysts. The recent use of the Twitter logo as Dogecoin’s cryptocurrency is evidence of this, and Elon may aid the cryptocurrency’s price advance to a rebound and recover to its highest level in 2023.
Dogecoin price was at $0.08201 and over the previous 24 hours, it lost 4.04% of its market capitalization. However, the intraday trading session saw a 31% drop in trading volume. The ratio of Market capitalization to volume was at 0.08284.
Technical Analysis of Dogecoin Price
The Dogecoin price prediction shows the downward movement of the DOGE cryptocurrency over the charts. The data suggesting DOGE cryptocurrency’s largest recovery in 2023 are also supported by the dogecoin price forecast 2023. Analysts predict that Dogecoin’s price will start its comeback surge when it reaches the $0.10 mark in the middle of 2023.
Technical indicators point to the declining momentum of Dogecoin on the charts. The DOGE cryptocurrency is declining, according to the relative strength indicator. The RSI stood at 52, and is about to cross neutrality.
The decreasing velocity of the Dogecoin price is shown by MACD. The MACD line is approaching the signal line for a negative crossover. Investors in DOGE cryptocurrency must wait until the Dogecoin price maintains and rises above the initial resistance level of $0.10075.
Summary
Dogecoin price prediction shows the cryptocurrency’s downtrend movement, despite experts’ predictions that DOGE will most certainly rally after its escape. The price of Dogecoin is expected to increase in 2023 and reach $0.1 by the middle of the year, according to analysts. The data suggesting DOGE cryptocurrency’s largest recovery in 2023 are also supported by the dogecoin price forecast 2023. Technical indicators point to the declining momentum of Dogecoin on the charts.
Technical Levels-
Resistance level- $0.0900 and $0.10075
Support level- $0.07844 and $0.07381
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.
