NewsletterDogecoin Price Analysis: What’s Ahead for $DOGE Price after Falling to Surpass $0.07?
Dogecoin Price Analysis: With the upsurge in accumulation from buyers and improving market sentiment, the Dogecoin price witnessed a significant upswing in the daily chart. From the two-week low of $0.0581, the prices surged nearly 18% to currently trade at the $0.067 mark. However, the buyers face significant supply at the downsloping resistance trendline, which could undermine the ongoing recovery.
Also Read: Elon Musk’s Tesla Has Special Dogecoin Page On Official Website
Dogecoin Price Daily Chart
- The Dogecoin price could witness a minor pullback before the resumption of the prior recovery
- A bullish breakout from the overhead trendline could set the Doge price for a 22% upswing to hit $0.083
- The 24-hour trading volume in the Dogecoin coin is $193.4 Million, indicating a 34% loss.
Source-Tradingview
The ongoing recovery in the Dogecoin price faced a minor roadblock at a downsloping resistance trendline. Despite a 0.3% intraday gain, the daily chart showcasing long-wick rejection at this dynamics resistance indicates the bears are actively selling at this barrier.
If the bearish momentum rises, the Dog-themed memecoin could tumble 5.3% to retest a local support zone of $0.63. This horizontal support could offer buyers a strong springboard to rechallenge the overhead trendline.
A potential breakout from the trendline will signal the resumption of a recovery rally and push the DOGE price to the $0.083 ceiling.
Will Dogecoin Price Plunge to $0.582?
The overhead supply could cause a minor coiling in Dogecoin price between the downsloping resistance trendline and $0.063 support. In case, the memecoin breaks the aforementioned support, the sellers would likely undermine the recent recovery and plummet the price back to $.0582
- Bollinger Band: The downswing in the upper bank of the Bollinger Band indicator projects the bullish momentum is not yet sufficient to trigger a directional rally.
- Relative Strength Index: The daily RSI slope close to the 50% mark projects a neutral sentiment among traders.
- Do Kwon Faces Up to 12 Years in Prison Over ‘Colossal’ Role in $40B TerraUSD Collaps
- ProShares Drops 3x Bitcoin, Ethereum, XRP ETF Plans After SEC Pushback
- Bitcoin Eyes Fresh Demand as Indiana Advances Bill for Crypto Investments
- Crypto Bill Markup Unlikely This Month Amid DeFi, Stablecoin Yield and Conflict Disputes, Expert Says
- Breaking: U.S. PCE Inflation Rises To 2.8%, Bitcoin Falls
- XRP Price Prediction As Spot ETF Inflows Near $1 Billion: What’s Next?
- Solana Price Outlook: Reversal at Key Support Could Lead to $150 Target
- Is Cardano Price at Risk of a 50% Crash Ahead of the Midnight Launch?
- Is Chainlink Price Headed for $20 as Reserves Pass 1M LINK?
- Ethereum Price Breaks Out of Falling Wedge: Next Target Now Set at $5K
- Is ZCash Price Set for a Bigger Rally After Its 10% Surge on the Bitget Listing?
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.
Premium Partners
