Dogecoin price prediction is bullish for the long term and forming a bullish continuation pattern. DOGE price is near to crucial support and buyers are trying their best to rebound.
Dogecoin price broke the 200-day EMA on July 25, 2023, when Elon Musk rebranded the Twitter Logo into X. However, the meme coin crypto price failed to give momentum and got stuck into the narrow range consolidation.
The latest update is initially the Logo X is tested on the Twitter Web platform which is quite successful. Now, Twitter X is also visible in Mobile Apps.
A lot of new changes can be seen in the social media giant Twitter for improving the user experience. Therefore, it might positively impact the prices of Dogecoin.
DOGE prices still hold the 50-day and 200-day EMA showing initial signs of a trend reversal. The prices seem to be forming a short-term base and a sharp rise might be visible at any time.
Dogecoin price is trading at $0.07505 with an intraday rise of 0.12%. The 24 volume to market cap is 2.28%.
Dogecoin Price Prepares for the Rally?
Dogecoin price prediction suggests a significant rise is possible in the coming months. Famous meme coin crypto is recovering by forming higher high swings. Buyers are getting active at support levels so any short-term downfall might get easily absorbed.
Till the DOGE crypto price sustains above $0.06000 the recovery is likely to continue in the coming months. However, the prices will pick up momentum when buyers are able to break the $0.08500 hurdle.
On the other hand, if the DOGE price drops below the $0.06000 level then further down side will open.
Will DOGE Price Bounce Back from EMA Support?
DOGE price eroded the gains generated due to Twitter X. However, the prices are near to the EMA support so the possibility of bounce back is high. The MACD curve slopes sideways denotes prices lack direction and might consolidate for some more time.
The RSI at 52 indicates neutral territory and a balance between bullish and bearish positions. Dogecoin price is above the green line of the super trend indicator which favors the bulls.
Conclusion
Dogecoin price prediction suggests a rise in the long run. Lots of changes might be visible in social media giant Twitter which might positively impact the DOGE crypto.
The technical analysis suggests DOGE crypto is recovering and more upward momentum is possible.
Technical levels
- Resistance levels: $0.08323 and $0.09511
- Support levels: $0.06500 and $0.06000
