The 24-hour Dogecoin price action has been highlighted by a range between $0.3049 and $0.3229 as both the bulls and bears work to break into either side. As the cryptocurrency continues to struggle with price corrections on the short-term timeframe, technical analysis of a wider timeframe shows a bullish structure that would lead to a […]
Like many other cryptocurrencies, Dogecoin’s price action in the past week has been highlighted by a notable correction. Dogecoin, in particular, saw its price break below $0.3 for the first time in four weeks, leading to a bottom below $0.27. Related Reading: Fed Can’t Hold Bitcoin, No Plans Yet To Change Law, Powell Says According […]
Recent price action in the past two days saw the Dogecoin price breaking below supports at both $0.4 and $0.3 in quick succession to eventually reverse after a quick break below $0.27 in the past 24 hours. Since then, the meme coin appears to be gaining momentum, with a little-known yet significant indicator pointing to […]
Crypto analyst Dima James has again raised the possibility of the Dogecoin price rallying above $10 in this market cycle. The crypto analyst alluded to historical data to show how high DOGE could go in this bull cycle. How High Dogecoin Price Could Go In This Market Cycle In an X post, Dima James shared a chart that showed that the Dogecoin price could reach as high as $80 in this market cycle. The analyst also predicted that the cycle top for Dogecoin could happen sometime between February 11th and May 7th, 2025. The analyst alluded to historical data to explain why he is confident that Dogecoin could reach this target. Related Reading: XRP Price Crash: Analyst Says Don’t Get Distracted As RSI Is Still Above A Bullish 50% Analyzing the daily chart, the crypto analyst explained that year 4 is typically the final year of each cycle, which is when the Dogecoin price has peaked every single time. He highlighted an indicator on the chart that has accurately predicted every single Bitcoin top. The analyst noted that Dogecoin tends to peak three to four weeks after Bitcoin reaches its top. In line with this, the analyst predicts that the cycle top for Dogecoin will happen sometime between February 11th and May 7th. Meanwhile, discussing the four-year cycle more, Dima James noted that the Dogecoin price had an impressive performance in this cycle’s year 3 (2024) compared to the year 3s of the previous cycles (2016 and 2020). He further reaffirmed his prediction that the Dogecoin price will finish this year at $0.31, marking the meme coin’s best year 3 performance to date. Year 4 has historically been the most significant year for Dogecoin, and Dima James expects a similar or even greater result in 2025, with Dogecoin outperforming its previous year 4 cycle performances. The analyst believes this will happen due to increased adoption and technological advancements. DOGE Has Found A Local Bottom In an X post, crypto analyst Trader Tardigrade mentioned that the Dogecoin price may have found a local bottom. The analyst explained that there is a Doji Dragonfly hitting the Fibonacci level of 0.618 on the daily chart. He further noted that DOGE showing price rejection at this level indicates a potential bottom found. Related Reading: Here’s Why The Bitcoin Price Continues To Hold Steady Between $96,000 And $98,000 The crypto analyst recently mentioned that the Dogecoin price was stuck in a range. He predicted that a break above this range could send Dogecoin to the $1 psychological level. In another X post, Trader Tardigrade stated that Dogecoin had entered the Gaussian channel on the daily chart. The crypto analyst added that the Dogecoin price has halted its downtrend at the channel’s mid-band, highlighting the Gaussian Channel’s supportive nature. In line with this, Trader Tardigrade suggested that Dogecoin is ready for a bullish reversal. At the time of writing, the Dogecoin price is trading at around $0.33, up over 12% in the last 24 hours, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com
Days back, Dogecoin, the largest dog-themed meme coin, witnessed a notable setback, causing a sharp drop in its price to critical support levels. Despite the recent waning performances, several key developments suggest that DOGE might be preparing for its next major rally to new heights in the short term. A Robust Rally To Higher Levels […]
Crypto analyst Trader Tardigrade has provided insights into the current Dogecoin price action. The analyst revealed that Dogecoin is currently stuck in a range amid the recent crypto market crash and suggested what could happen if the foremost meme coin breaks out of this range. Dogecoin Price Stuck In A Range, What Could Happen Next? […]
The entire crypto market has been riddled with a notable decline in the past 24 hours, led by Bitcoin’s break below the $100,000 price level again. Dogecoin wasn’t left out of this decline, which saw its price crashing by almost 15% and eventually reaching below $0.31. However, technical analysis suggests that this price decline is very natural in Dogecoin’s current trajectory. This technical analysis offers a silver lining for Dogecoin enthusiasts, as it frames the pullback as a natural phenomenon within the broader ongoing bull cycle. Weekly Golden Cross And Its Implications For The Dogecoin Price Crypto analyst Kevin (Kev_Capital_TA) took to the social media platform X to highlight the significance of Dogecoin’s weekly golden cross amidst the ongoing market downturn. According to Kevin, Dogecoin experienced a weekly golden cross back in early November, coinciding with the US election period. Historically, such technical indicators signal strong bullish momentum to the upside. However, Kevin noted that the current pullback aligns with past patterns where Dogecoin underwent significant corrections following golden crosses. Related Reading: Bitcoin Price Crash Below $100,000 Not The End As Analyst Predicts Another 52% Jump He pointed out that in previous cycles, Dogecoin faced three separate 50% corrections on its path to conclude at a cycle top. This historical behavior provides context for the recent crash to $0.31, which, according to Kevin, is a typical bull market pullback. He emphasized that this kind of retracement is not only expected but also essential for maintaining the market’s bullish structure. Support Levels And The Golden Pocket Zone Kevin’s technical analysis further looks into Dogecoin’s key support levels that could determine the meme coin’s next move. To get these support levels, he outlined the macrostructured support zone and the golden pocket, which is a Fibonacci retracement zone widely regarded as a strong support area. Based on his assessment, a 45% correction from Dogecoin’s recent high would align with these levels and could set the stage for a resumption of the uptrend. Related Reading: Dogecoin Trading Volume Rises Over $6.5 Billion As Liquidations Cross $31 Million, What’s Going On? With that in mind, the recent Dogecoin price high is just around $0.48, a price point that it achieved in early December. Should Dogecoin tap into this golden pocket zone without closing below the $0.26 level on a weekly basis, this should be enough to keep the bullish market structure intact. However, breaking below support at $0.26 could spell trouble for Dogecoin, and cause a shift in its price trajectory in the broader trend. At the time of writing, Dogecoin is trading at $0.3179, marking a steep 12% decline in the past 24 hours and an even more significant 22% drop over the past seven days. This recent decline places Dogecoin at its lowest level since early November, breaking below the $0.35 threshold for the first time in over a month. Nevertheless, the $0.26 support level will remain a focus in determining whether Dogecoin’s bull run is still valid. Featured image created with Dall.E, chart from Tradingview.com
Dogecoin started a major decline below the $0.3550 support against the US Dollar. DOGE is now consolidating and might struggle to recover above the $0.350 resistance. DOGE price started a fresh decline below the $0.3650 level. The price is trading below the $0.3550 level and the 100-hourly simple moving average. There is a connecting bearish trend line forming with resistance at $0.3550 on the hourly chart of the DOGE/USD pair (data source from Kraken). The price could struggle to start a fresh increase above the $0.3550 and $0.3650 resistance levels. Dogecoin Price Dips Sharply Dogecoin price started a fresh decline from well above $0.400 like Bitcoin and Ethereum. DOGE traded below the $0.380 and $0.3650 support levels. It even spiked below $0.320. A low was formed at $0.30 and the price is now consolidating losses. It recovered some points and climbed above $0.320. It tested the 23.6% Fib retracement level of the downward move from the $0.4096 swing high to the $0.300 low. Dogecoin price is now trading below the $0.3550 level and the 100-hourly simple moving average. There is also a connecting bearish trend line forming with resistance at $0.3550 on the hourly chart of the DOGE/USD pair. Immediate resistance on the upside is near the $0.3250 level. The first major resistance for the bulls could be near the $0.340 level. The next major resistance is near the $0.3550 level or the 50% Fib retracement level of the downward move from the $0.4096 swing high to the $0.300 low. A close above the $0.3550 resistance might send the price toward the $0.3650 resistance. Any more gains might send the price toward the $0.380 level. The next major stop for the bulls might be $0.40. More Losses In DOGE? If DOGE’s price fails to climb above the $0.3550 level, it could start another decline. Initial support on the downside is near the $0.3050 level. The next major support is near the $0.3050 level. The main support sits at $0.30. If there is a downside break below the $0.30 support, the price could decline further. In the stated case, the price might decline toward the $0.280 level or even $0.2620 in the near term. Technical Indicators Hourly MACD – The MACD for DOGE/USD is now gaining momentum in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for DOGE/USD is now below the 50 level. Major Support Levels – $0.3050 and $0.3000. Major Resistance Levels – $0.3400 and $0.3550.
The Dogecoin price has been stuck in a state of correction and consolidation since the first week of December after a crazy multi-week rally that saw it peaking just below the $0.48 price level. Recent price action in the past 24 hours and seven days has been riddled by declines, with the RSI indicator reflecting […]
The Dogecoin trading volume has surged in the last 24 hours, and liquidations have also risen during this period. The surge in these metrics has resulted from the significant price drop for Dogecoin, which is down over 5% in the last 24 hours. Dogecoin Trading Volume And Liquidations Witness Significant Spike CoinMarketCap data shows that Dogecoins’s trading volume is up over 57% in the last 24 hours, with over $6 billion traded during this period. Meanwhile, Coinglass data shows that Dogecoin’s liquidations have crossed $31 million, with $25 million and $5.8 in long and short positions liquidated, respectively. Related Reading: XRP Price Ready To Run To $11 ATH? Alternative Larger Metrics Show The Answer Long positions took the most hit as the Dogecoin price crashed below the $0.4 range. This development came following Jerome Powell’s speech, which painted a bearish picture for the foremost meme coin. As crypto analyst Kevin Capital revealed, Dogecoin’s technical indicators were already bearish, and the macroeconomic fundamentals only did more damage. Powell suggested that the US Federal Reserve will likely pause on the rate cuts next year, which immediately sparked a bearish sentiment among traders and led to a wave of sell-offs. This contributed to the spike in trading volume, as investors looked to offload their coins, considering how the Fed being hawkish is bearish for risk assets like Dogecoin. However, Kevin Capital believes that traders are overreacting to Jerome Powell’s speech. The crypto analyst believes that Dogecoin will recover this price correction, stating that the dip will be bought. However, it is worth mentioning Dogecoin’s correlation with Bitcoin, as Kevin Capital had previously pointed out that DOGE’s next move will depend on BTC. The Bitcoin price has dropped below the $100,000 psychological price level and looks bearish at the moment. As such, the Dogecoin price recovery is unlikely to happen until Bitcoin witnesses a bullish reversal. Increased Volatility Is Not Unusual Crypto analyst Master Kenobi also commented on the Dogecoin price drop, stating that increased volatility at this stage of the bull market is not unusual. However, the analyst suggested that traders should avoid being shaken out and instead hold on to their positions. This came as he claimed that market makers who will inject money into the market would prefer for market participants to walk away with a 90% loss rather than a 10x gain. Related Reading: Cardano Price Eyes Recovery Toward $2 As Million-Dollar Whale Transactions Explode On The Network Bitcoinist recently reported that Dogecoin’s sentiment has turned negative once again, indicating that DOGE holders may be looking to sell their coins even at a loss. Kevin Capital had before now stated that the Dogecoin bull run is far from over, suggesting that there was no need to be bearish at the moment despite the price correction. He advised long-term holders just to sit back and wait for higher prices. At the time of writing, the Dogecoin price is trading at around $0.36, down over 5% in the last 24 hours, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com
Two days ago, a crypto analyst accurately forecasted a Dogecoin price crash, which has since taken place. According to the analyst’s latest projections, Dogecoin is poised for a steeper decline, with an anticipated 30% crash from its current trading price. Analyst Forecasts 30% Price Crash The Dogecoin price has crashed to $0.35, marking a substantial 14% decrease over the past seven days. Earlier this month, Dogecoin was trading above $0.4 after experiencing a sharp rise driven by the positive market sentiment fueled by Donald Trump’s victory in the US Presidential elections. Related Reading: Bitcoin Price Still Mirroring Bullish Move From 2023, What To Expect After Hitting $108,000 ATH A TradingView crypto analyst, known as the ‘MMBTrader’ who accurately predicted Dogecoin’s recent price crash, has now updated his forecasts to warn of further potential declines. The analyst shared a chart, analyzing Dogecoin’s price action and potential future movements. Currently trading above $0.3, the DOGE price is slowly approaching a critical resistance, illuminated by the red zone at the $0.438 level. The red arrow on the chart illustrates a potential short-term correction, set to trigger a Dogecoin price crash to the central support zone near the $0.25 mark. This substantial price drop would indicate a 30% decline from Dogecoin’s current price. Additionally, the analyst suggests that this projected price crash is a retracement, aligning with 0.618, the Fibonacci level indicated on the chart. The TradingView analyst has also revealed that if the Dogecoin price can establish strong support at the $0.25 level, it could confirm a bullish trend continuation. Such a development could pave the way for a potential Dogecoin price rally in the near term. Moving ahead, the green arrows in the analyst’s DOGE price chart represent the next potential phase pump. The analyst has predicted that a solid rebound from the $0.25 support level could trigger a new bullish phase for Dogecoin. Additionally, he projects a new bullish target towards the $0.75 area for Dogecoin, marking a significant leap to new price highs. Overall, the TradingView analyst has pinpointed $0.45 as the level to watch out for. Although a drop to $0.25 would mark a 30% crash for Dogecoin, a potential surge to $0.75 would represent a 115% price increase. Dogecoin Price Breakout To $1 Sighted While Dogecoin faces volatility and declines, Trader Tardigrade, a prominent crypto analyst, has expressed confidence regarding the meme coin’s potential shift to the upside. According to the analyst, Dogecoin is currently moving in a defined range between $0.33 and $0.49, highlighted by the purple rectangle in the price chart. Related Reading: XRP Price Ready To Run To $11 ATH? Alternative Larger Metrics Show The Answer Looking at the chart, this range represents a period of consolidation during which the price of Dogecoin appears to fluctuate between resistance and support zones. The analyst has depicted that a breakout above the range’s upper boundary could continue Dogecoin’s rally to new all-time highs at $1.05. Featured image created with Dall.E, chart from Tradingview.com
Dogecoin is approaching a critical juncture as it hovers near the $0.3563 mark, with the Relative Strength Index (RSI), signaling oversold conditions. This suggests that the recent sell-off may have pushed the asset into undervalued territory, raising the possibility of a rebound. However, whether the bulls can seize this opportunity to drive a recovery remains uncertain. With the market showing signs of fatigue, $0.3563 emerges as a pivotal level to watch. How the price reacts in the coming sessions could set the tone for Dogecoin’s next significant move. Understanding Current Price Action And The Overbought RSI Signal Current price action reveals that Dogecoin, despite trading below the 100-day Simple Moving Average (SMA), is showing promising signs of bullish momentum. The meme coin has briefly regained strength, hinting at a possible upward trajectory as it seeks to challenge overhead resistance levels. Significantly, this movement suggests that buyer interest is gradually increasing, which could lay the groundwork for a sustained recovery if key levels are breached. While the 100-day SMA often acts as a significant hurdle in bearish markets, DOGE’s resilience at this juncture indicates that bulls are making an effort to reclaim control. The evolving price structure underscores the importance of maintaining momentum to confirm a bullish breakout, with the next steps likely influenced by market sentiment and broader trading dynamics. Related Reading: Ex-Hedge Fund Guru Bets Big On Dogecoin As ‘Core Crypto Bet’ DOGE’s Relative Strength Index (RSI) is currently hovering at 30%, which indicates a firm position within the oversold zone. This technical indicator suggests that Dogecoin may have experienced significant selling pressure, pushing its price to undervalued levels. An RSI reading at or below 30% typically offers an opportunity for buyers to re-enter the market and initiate a rebound. Although this does not guarantee an immediate recovery, it highlights the potential for a reversal in the coming sessions, especially if other bullish signals align. Traders are closely watching whether the RSI will rise soon, as this could signal strengthening momentum and a shift in sentiment. Combined with price action near key support levels, the RSI’s positioning might be crucial in shaping Dogecoin’s next moves. A Rebound Or Continued Rally For Dogecoin? DOGE’s current price action presents two key scenarios to consider: a potential rebound or the continuation of its rally. Given the oversold signal from the RSI near $0.3563, a rebound is possible if the bulls step in and drive the price higher, capitalizing on the undervalued conditions. A successful recovery could see DOGE challenge previous resistance points, such as $0.4484, and restore its upward pressure. Related Reading: Dogecoin (DOGE) Rally on Hold: Can Momentum Kick Back In? On the other hand, if the bearish pressure persists, the cryptocurrency could struggle to regain bullish control, leading to further declines toward $0.1800. The next few trading sessions will be crucial in determining which path Dogecoin will take, with support and resistance levels playing key roles in shaping its direction. Featured image from Unsplash, chart from Tradingview.com
Dogecoin and Shiba Inu prices have significantly crashed in the last 24 hours. This is partly due to Jerome Powell’s speech, which painted a bearish picture for crypto assets despite the announcement of a 25 basis point (bps) rate cut. Why The Dogecoin And Shiba Inu Prices Crashed The Dogecoin and Shiba Inu prices are […]
According to new reports, Dogecoin’s market sentiment has plummeted significantly, turning negative once again as its price consolidates. This bearish trend raises the question of whether it is time for investors to buy or sell off their DOGE tokens to avoid future losses. Dogecoin Market Sentiment Dwindles On Tuesday, crypto analyst Ali Martinez announced on […]
Crypto analyst Lebicahlz has predicted that the Dogecoin price is set to witness a major explosion, which would send it to new all-time highs (ATHs). The analyst also provided price targets that Dogecoin could reach as it rallies to new highs. Dogecoin Price Set To Reach New ATHs In a TradingView post, Lebicahlz said he […]
The Dogecoin price is now at a decisive junction as it hovers near a support level that could determine its short-term direction. A recent analysis on TradingView highlights the importance of the $0.394 support, with outcomes pointing toward both bullish and bearish scenarios depending on price movement at this support level. Dogecoin’s Key Support Zone […]
Dogecoin started a downside correction below the $0.400 support against the US Dollar. DOGE is now consolidating and might aim for a fresh increase above $0.4050. DOGE price started a fresh decline below the $0.40 level. The price is trading below the $0.4050 level and the 100-hourly simple moving average. There is a connecting bullish trend line forming with support at $0.3950 on the hourly chart of the DOGE/USD pair (data source from Kraken). The price could start another rally if it clears the $0.4050 and $0.4150 resistance levels. Dogecoin Price Eyes Fresh Increase Dogecoin price started a fresh decline from well above $0.410 unlike Bitcoin and Ethereum. DOGE traded below the $0.4020 and $0.400 support levels. It even spiked below $0.3980. A low was formed at $0.3963 and the price is now consolidating losses. It recovered some points and climbed above $0.40. It surpassed the 23.6% Fib retracement level of the downward move from the $0.4136 swing high to the $0.3963 low. Dogecoin price is now trading below the $0.4050 level and the 100-hourly simple moving average. There is also a connecting bullish trend line forming with support at $0.3950 on the hourly chart of the DOGE/USD pair. Immediate resistance on the upside is near the $0.4025 level. The first major resistance for the bulls could be near the $0.4050 level. The next major resistance is near the $0.4095 level or the 76.4% Fib retracement level of the downward move from the $0.4136 swing high to the $0.3963 low. A close above the $0.4095 resistance might send the price toward the $0.4150 resistance. Any more gains might send the price toward the $0.4350 level. The next major stop for the bulls might be $0.4500. More Losses In DOGE? If DOGE’s price fails to climb above the $0.4050 level, it could start another decline. Initial support on the downside is near the $0.3980 level. The next major support is near the $0.3950 level. The main support sits at $0.3750. If there is a downside break below the $0.3750 support, the price could decline further. In the stated case, the price might decline toward the $0.350 level or even $0.3420 in the near term. Technical Indicators Hourly MACD – The MACD for DOGE/USD is now losing momentum in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for DOGE/USD is now below the 50 level. Major Support Levels – $0.3980 and $0.3750. Major Resistance Levels – $0.4050 and $0.4095.
The Dogecoin price could be gearing up for a potential bullish move as it approaches a critical resistance level. Following the completion of its price consolidation, a crypto analyst has suggested that technical indicators point to a significant breakout to the upside. Key Factors Supporting A Bullish Outlook For Dogecoin Price Ghazi, a crypto analyst […]
Crypto analyst Elalemiami has revealed that the Dogecoin price is about to test the Gaussian channel on the chart. The analyst also mentioned what he expects to happen when DOGE touches the Gaussian band. Dogecoin Price Could Touch $2.5 As DOGE Tests Gaussian Channel In a TradingView post, Elalemiami suggested that the Dogecoin price could […]
Crypto analyst Trader Tardigrade has highlighted a bullish pattern that has formed on the Dogecoin price chart. Based on this pattern, the analyst predicted that the Dogecoin price could reach as high as $2.15 in this market cycle. Bull Flag Puts The Dogecoin Price Target At $2.15 In an X post, Trader Tardigrade revealed a bull flag that had formed on DOGE’s daily chart. He stated that there is a tight consolidation within the bull flag. The analyst added that a long flagpole projects the Dogecoin price target at $2.15. Interestingly, his accompanying chart showed that the rally to this target could happen before the year ends. Related Reading: XRP Price Breakout Above $10: Analyst Tells Community To Pay Attention To This Fractal The Dogecoin price could be well-primed for this rally to the upside. In another X post, Trader Tardigrade stated that a possible Dogecoin scenario has come up with a double-bottom chart pattern. He added that DOGE had formed two equal lows with a resistance at the neckline, which is at around $0.46. Meanwhile, the crypto analyst also recently stated that the Dogecoin price has gained more buying power with a bullish crossover on the moving average convergence/divergence (MACD). His analysis suggested that Dogecoin could break this resistance at $0.46 and rally to around $0.5 on the next leg of the DOGE bull run. This rally to $0.5 could just be the start of the projected rally to $2.15 based on the bull flag on the Dogecoin price chart. It is worth mentioning that Trader Tardigrade has before now provided more bullish predictions for Dogecoin in this market cycle. The analyst predicted that DOGE could reach as high as $30 in this cycle while advising market participants to start taking profits around $10. What The Next Move Could Look Like Crypto analyst KrissPax provided insights into what the next move up for the Dogecoin price could look like. He stated that following the double-bottom pattern on DOGE’s chart, a fractal from past price action shows a possible move up through Monday, followed by an upward trend until Christmas. However, the crypto analyst cautioned that there will be dips along the way. Related Reading: Bitcoin Price Dominance And Altcoin Season: What The Sudden Volatility Means For The Market Meanwhile, like Trader Tardigrade, KrissPax also highlighted the bull flag that has formed on DOGE’s daily chart. He stated that this bullish pattern points to the Dogecoin price reaching $0.69 by the end of the year. This would break Dogecoin close to its current all-time high (ATH) of $0.73. Crypto whales look to be positioning themselves for this Dogecoin price rally. Crypto analyst Ali Martinez revealed that these investors bought 160 million DOGE in 24 hours. At the time of writing, the Dogecoin price is trading at around $0.4, up over 1% in the last 24 hours, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com
The Dogecoin price action is currently locked between two critical technical levels, the macro golden pocket and the macro 0.5 Fibonacci retracement level. This observation was highlighted by crypto analyst Kevin (@Kev_Capital_TA) on the social media platform X. Interestingly, according to the analyst, Dogecoin’s immediate fate hinges not on its internal dynamics but on external factors, primarily […]
Crypto analyst Trader Tardigrade has provided an update on Dogecoin’s current price action. The analyst revealed that the meme coin has signaled a bullish crossover on the moving average convergence/divergence (MACD) and suggested where the DOGE price is headed next. Dogecoin Flashes Bullish Pattern In an X post, Trader Tardigrade revealed that Dogecoin’s MACD has […]
Earlier in November, Dogecoin experienced a rapid ascent to new price highs, driving its Relative Strength Index (RSI) into the overbought zone. However, a crypto analyst revealed that the popular meme coin has officially exited this overbought range following its recent pullback below $0.4. This new shift could signal the potential for another significant surge […]
Following the recent waning price performance of Dogecoin, the largest meme coin in the past few days, speculations and uncertainties about DOGE’s potential to hit a new all-time high in the short term have emerged within the crypto community. Record-Breaking Run For Dogecoin May Be Postponed Technical analyst and investor Master Kenobi has offered insights […]
The Dogecoin price journey toward the coveted $1 mark has been a topic of interest for crypto enthusiasts and traders alike. Reaching $1 would solidify Dogecoin into a new psychological threshold and into new all-time high prices. However, there have been differing perspectives as to how and when this would happen. A technical analysis on the TradingView platform suggests that the Dogecoin price may encounter resistance at $0.48, experience a decline, and then resume its upward trajectory towards $1 and beyond. Dogecoin Price Could Reject At $0.48 Dogecoin is currently trading below the $0.48 mark, but technical analysis has pointed to a notable resistance situated around this price level. According to the Dogecoin price analysis of the 4-hour candlestick timeframe, the $0.48 price level is one to watch. Related Reading: XRP Price Prediction: Last Phase Of ABC Wave Points To A Bounce To New ATH At $5.85 This is because the Dogecoin price has yet to exhibit a notable break above this price level throughout the current bull market cycle. Particularly, the rally has been highlighted by two rejections just below the $0.48 price level, with the highest Dogecoin price so far being $0.475 on November 23 and December 8. The analyst points out that the Dogecoin price recently experienced a solid bounce from the 200EMA on a 4-hour timeframe. This bounce signifies that the bulls are still in control, as the price continues to show resilience against downward pressure. The confluence of support at the 200EMA with bullish momentum provides a foundation for Dogecoin’s upward movement, setting the stage for the anticipated test of the $0.48 level. Interestingly, Dogecoin’s inability to break above $0.48 yet has seen the price level being regarded as the zone of liquidity. The TradingView analyst emphasizes that this level remains a focal point, predicting that Dogecoin is likely to face another rejection at $0.48. Such a rejection could lead to a pullback deeper than any seen so far during this bull cycle and offer an opportunity for consolidation before attempting a stronger breakout. What Happens After The Retest? According to the analyst, a rejection at the $0.48 price level would see the Dogecoin price falling significantly and erasing most of the gains it piled up in November. Particularly, the analyst envisions a fall to fill the CME on lower zones up to the $0.20 price zone. Such a move is expected to have a devastating effect on the sentiment of bullish investors, specifically those anticipating a quick new Dogecoin price all-time high. Related Reading: Solana Price At $4,000? Cup And Handle Pattern Shows Why This Is Possible Despite this anticipated pullback, the analyst maintains a longer-term bullish outlook. Once Dogecoin reaches the $0.20 zone and completes the consolidation phase, a strong rebound is expected to follow. This rebound is projected to drive the price decisively past the $0.48 resistance and set the stage for Dogecoin’s journey toward the much-anticipated $1 milestone. With this in mind, the analyst highlighted the $0.24 to $0.20 range as the ideal buying zone to best capitalize on this move. At the time of writing, the Dogecoin price is trading at $0.42 and is up by 7% in the past 24 hours. Featured image created with Dall.E, chart from Tradingview.com
Crypto analyst Master Kenobi has provided an update on the Dogecoin price action in comparison to the 2021 bull run. The analyst revealed that the DOGE/BTC chart has aligned with this previous cycle and predicted when exactly Dogecoin could experience the long-awaited pump. Dogecoin Price Nears Long-Awaited Pump In an X post, Master Kenobi predicted […]
Crypto analyst Bartfil has provided insights into the next move for the Dogecoin price based on past performances. Based on his analysis, Dogecoin could witness a significant price correction before it continues its upward trend. Where The Dogecoin Price Is Headed Next In a TradingView post, Bartfil compared the current situation of the Dogecoin price […]
A new Dogecoin price analysis reveals the potential for the number one meme coin to surge to a new all-time high at $4. According to a crypto analyst, this bullish target could become a reality if Dogecoin can maintain its position above a critical support level of around $0.35. Additionally, the analyst points to factors […]
The Dogecoin price has witnessed a notable decline amidst this wider bloodbath, as it is currently down by 8% in 24 hours. Nonetheless, Dogecoin continues to attract bullish sentiment despite the market crash. Cryptocurrency prices have declined massively in the past 24 hours, with the global crypto market cap declining by a little over 4% […]
Dogecoin might be demonstrating bearish price movements in the last few days. However, the upcoming days could be promising for the dog-themed meme coin following a recent breakout from a bullish chart pattern, which could push DOGE toward higher price levels. Bullish Breakout Ignites Dogecoin’s Momentum For More Growth Despite recent fluctuations in the general […]