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- 1 Dogecoin price prediction is mildly bearish till it is $0.10000.
- 2 DOGE price is trying to climb above the 50-day and 200-day EMA.
- 3 Dogecoin price is stuck in a wide range of consolidation.
Dogecoin price prediction is mildly bearish till it trades below $0.10000. DOGE price is stuck in the wide range between $0.06000 to $0.10000. Buyers are trying their best to defend the lower range but no strong signs of recovery are visible.
Dogecoin price struggles between the 50-day and 200-day EMA. It indicates buyers are trying to reverse the trend.
From the past few months, DOGE crypto price is declining by forming lower low swings. It erodes the previous gains and returns back to the lower range. The downfall in DOGE crypto price halted near $0.06000 and entered into a narrow range.
Dogecoin price tried multiple times to break the $0.07000 hurdle but got rejected. It indicates that sellers are still active on higher levels. Short-term bounce is facing difficulty to sustain on higher levels that denotes bear dominance.
Dogecoin price is trading at $0.07047 with an intraday rise of 0.63%. The 24-hour volume to market cap is 4.33%.
The pair of DOGE/BTC is trading at 0.00000235. The price chart of DOGE/BTC is in a strong downtrend and sellers seem to be active on both pairs.
Will Dogecoin Price Continue the Recovery?
Dogecoin price prediction will turn bullish when buyers will be able to break the $0.10000 hurdle level. Presently, the price is consolidating near the demand zone and buyers are trying their best to rebound.
Till the DOGE price holds the $0.06000 level, the probability of a short-term bounce remains high. However, the price will gain momentum when buyers are able to push the price above the 200-day EMA.
On the other hand, if the DOGE price drops below $0.06000, then it might trigger the next phase of downfall. The technical analysis suggests that Dogecoin price is consolidating for the base formation and the downside risk is low.
DOGE Price Formed a Doji Candle
DOGE price formed a Doji candle on the weekly time frame. It denotes indecisiveness and prices might consolidate for some more time. The crypto leader BTC price holds the $30K mark. So, if the BTC price recovers, then it may impact Memecoin positively as well.
The MACD curve is rising upward and displays a positive crossover. It indicates prices are likely to trade with a bullish bias. The RSI curve at 58 sloping upwards denotes that a short-term relief rally is possible.
Conclusion
Dogecoin price prediction is bearish but buyers are trying to take a U-turn from the demand zone. However, the DOGE price is consolidating near the demand zone and the downside risk is low.
Technical Levels
- Resistance levels: $0.10000 and $0.11171
- Support levels: $0.06000 and $0.05500
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish 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.
