NewsletterDogecoin Price Prediction: DOGE Price Set For 15% Upswing If Buyers Break This Key Barrier
Dogecoin Price Prediction: Amid the recent recovery in the crypto market, the Dogecoin price gave a bullish breakout from a long-coming resistance trendline. This breakout should release the build-up buying pressure and bolster buyers to resume the prevailing recovery phase, Here’s how you may trade this breakout.
Key Points
- A potential breakout from $0.078 will encourage DOGE price for a $15% upswing
- The rising DOGE price reclaimed 20-day EMA slope offers additional confirmation for long buyers.
- The 24-hour trading volume in the Dogecoin coin is $657 Billion, indicating a 66% gain.
Source-Tradingview
A downsloping trendline gave a specific direction to the last five weeks’ downfall in Dogecoin price. This falling trendline acted as key resistance to assist traders in selling on a bullish upswing which is a key sign for an established downtrend.
However, on March 17th, the Doge price gave a decisive breakout from the overhead resistance trendline signaling an early sign of trend reversal. This bullish breakout should offer buyers a strong footing to lead to a further price rally.
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As of now, the Dogecoin price trades at $0.075, with an intraday loss of $0.097. Over the past four days, the price moved sideways above the breached trendline, reflecting price sustainability at the reclaimed level.
If the buying pressure persists, the post-retest rally should drive the memecoin above the significant resistances of 0.078, $0.09, and $0.1. Each of these resistance breakouts will bolster buyers to challenge the following barrier.
On a contrary note, if the coin price shows rejection from $0.078 resistance, the bullish thesis will get weakened.
Technical indicators
RSI: The daily RSI slope constantly rising projects growth in underlying bullishness and an increased possibility for uptrend continuation.
EMAs: the daily EMAs(50 and 100) moving near the $0.0787 level increase the resistance power of these levels.
Dogecoin Price Intraday Levels
- Spot rate: $0.075
- Trend: Bearish
- Volatility: Medium
- Resistance levels- $0.078 and $0.09
- Support levels- $0.07 and $0.06
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