Dogecoin Price Forecast: DOGE explodes, reaching toward the moon, hits $0.15

Dogecoin goes ballistic to trade another new all-time high.
More upward action expected as Dogecoin eyes liftoff to $0.2.

Dogecoin has become a household name in the cryptocurrency industry. Despite Elon Musk, the founder of Tesla, having an unquenched thirst for the coin, investors worldwide continue to shower it with love and attention. The break above $0.1 catalyzed the swing to new highs as massive buy orders were triggered.

Dogecoin extends the bullish outlook

The Meme Coin exchanges hands at $0.13 at the time of writing, following a majestic rally over the last couple of days. Short-term technical levels reveal that the slightest resistance path is upward. For instance, the Moving Average Convergence Divergence (MACD) indicator is firmly in support of the bullish narrative. In addition to striking higher levels within the positive region, the MACD line (blue) divergence from the signal line is a massive bullish indication.

DOGE/USD daily chart

Meanwhile, higher support must be established to secure the uptrend. A spike above $0.15 may catalyze another uptick to highs past $0.2. It is clear that Dogecoin’s uptrend is still intact and could reach much higher levels.

On the flip side, failure to close the day above $0.12 could spur a rise in overhead pressure. Any sign of instability will likely trigger sell orders as investors cash out for profit. Other key support areas to keep in mind include $0.1 and $0.08.

Dogecoin intraday levels

Spot rate: $0.13

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Trend: Bullish

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Volatility: High

Support: $0.12 and $0.1

Resistance: $0.14 and $0.15

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John is a talented writer with over two years of experience actively contributing to the cryptocurrency industry by providing credible, interesting and easy to read the content. His main focus is on cryptocurrency price analysis and industry news coverage. Lets follow him on Twitter at @jjisige

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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