DOGE Price Analysis: Watch These Key Price Levels Before Buying the Next Dip

04 Aug, 2021

By Domenic

Domenic

Contributor

Domenic Fiore has a love for the financial markets. He decided to skip the college route to pursue entrepreneurship.

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CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

Dogecoin (DOGE) Price Overview

Dogecoin price has shown a great struggle in reviving to previous levels traded in June. Bitcoin & Ethereum have successful broken many downtrends and important resistance marks along with many other coins. Unfortunately for DOGE investors, price seems to be fairly flat, lacking the much needed bull power to push back to previous levels. DOGE price has only revived around 22% off its low compared to an average of 50% seen on many other large cap coins.

While looking at the chart, we can see how DOGE has formed an ascending channel over the past 16 days. At the time of writing, DOGE price is inches away from breaking below the bottom trend of this channel.

If this occurs, we can expect DOGE price to fall to its next support of $0.186. This is a large support zone that should provide some type of bounce but in the case bears continue control, we can expect price to fall to the next major support of $0.166.

DOGE Price Analysis: DOGEUSDT LIVE 4 Hour Chart

The 200 MA shown in light blue, has acted as a resistance mark for nearly 80 days. This is a very important mark for DOGE price to clear as it would confirm a bull trend is in place for the first time in many months. Along with this MA lies a mid term trend line which has held price down for over a month. Breaking these two marks will likely send DOGE price to mid $0.20s.

RSI: While looking at the RSI, we can see strength just broke a 3 week long uptrend. This is a bearish scenario that may call for further short term downside.
MACD: The MACD has also just broke below the 0 value, into bearish territory.

DOGE Intraday Analysis

Spot rate: $0.195
Trend: Neutral
Volatility: Low
Support: $0.186
Resistance: $0.212

Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.

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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.