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- 1 Dogecoin price prediction suggests that the crypto may rebound from the lower trendline of the channel.
- 2 DOGE crypto is trying to sustain at 50 and 100-days DMAs to surge above 20 and 200-days daily moving averages.
- 3 Dogecoin price may bounce back towards the upper trendline of the rising parallel channel pattern.
Dogecoin price prediction showcases that DOGE crypto may bounce back towards the upper trendline at $0.080 recovery level. Meanwhile, buyers need to come forward for the rescue of DOGE cryptocurrency during the day’s trading session. Dogecoin price has been inclining through an interesting ascending parallel channel over the daily time frame chart. DOGE crypto has been gaining through the rising parallel channel after getting support from the $0.05940 level in June 2023.
Dogecoin price was at $0.07328 and has lost 1.24% of its market capitalization during the day’s trading session. Trading volume has increased by 34.40% during the intraday trading session. This demonstrates that buyers are getting involved in the trade to push DOGE crypto upwards. Volume to market cap ratio was 4.01%.
Dogecoin Price Prediction: Technical Indicators Highlights Something Interesting
Dogecoin price prediction suggests the crypto is heading for the lower trendline of the rising parallel channel. Analysts suggest that DOGE crypto price may rebound from the current level to surge till the $0.080 recovery level over the chart. Nevertheless, trading volume is below average and needs to grow during the intraday trading session.
Meanwhile, DOGE crypto is trying to sustain at 50 and 100-days DMAs to surge above 20 and 200-days daily moving averages. Moreover, Dogecoin price has slipped around 6.09% in a week but gained 6.98% in a month. Also DOGE cryptocurrency has lost 6.63% in the last three months and 21.21% in the last six months. However, DOGE crypto price has surged around 4.30% year to date.
Technical indicators indicate the presence of a downtrend in Dogecoin price. Relative strength index and moving average convergence divergence both confirm the downward velocity of DOGE crypto.
RSI was at 49 and is trying to sustain at neutrality. The MACD line is below the signal line after a negative crossover. Investors in Dogecoin price need to wait for a directional change over the daily time frame chart.
Summary
According to Dogecoin price prediction, DOGE cryptocurrency may return to the upper trendline at the $0.080 recovery level. Over the daily time frame chart, the price of Dogecoin has been rising in an intriguing ascending parallel channel. Analysts predict that the DOGE cryptocurrency price may rise from its present level to reach the chart’s $0.080 recovery level. Technical indicators point to a downward price trend for dogecoin. Investors in the Dogecoin price must watch the daily time frame chart for a directional change.
Technical Levels
Support Level: $0.07
Resistance Level: $0.080
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 or stock 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.
