DOGE Price Analysis:  Dogecoin Prepares For a Surge Back to $0.30 

26 Jul, 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.

DOGE Price Overview

The Dogecoin community has been awaiting a bullish trend over the past few months. As the cryptocurrency market starts to gain back bullish steam, DOGE looks primed to begin a strong uptrend. The meme coin mania only thrives in a bullish type market, which shows DOGE is not far much different than the rest. Once DOGE clears over its last two important marks, we can expect a strong bull trend to take place.

DOGE has been stuck under a long term trend line over the past 75 days. At the time of writing, price is attempting to break above this trend. If this is deemed successful, bulls must hold to experience a large price spike. Along with this trend line lies the 30 day MA. This MA has acted as resistance for over two months.

Once both of these marks clear, DOGE will be ready for a spike to its major resistance of $0.239. This mark will be the true test for bulls to smash through.

Doge Coin Price Analysis: DOGE/USDT 1 Day Chart

At the time of writing, DOGE sits on top of its major support of $0.193. This seems to be a great floor for DOGE to spike off of. If bears step in and pull price below this support, we should expect a fall back to major support of $0.166. This would be a bearish scenario which would likely land prices to a new low of $0.141. This scenario will likely only play out if BTC fails to continue holding above $33,000.

While looking at the RSI, we can see the strength has broken over a 72 day trend line. This is a great sign for revival and as long as strength can blow past the 50 value, DOGE will surely surge soon. The MACD has formed a curved bottoming formation which is a very bullish sign.

The MACD must break and clear the 0 value for the strong uptrend to take place.

DOGE intraday levels

Spot rate: $0.208
Trend: Bearish
Volatility: Medium
Support: $0.193
Resistance: $0.215

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.