Dogecoin (DOGE) is currently trading at $0.1522, down 1.77% in the past 24 hours, with a 24-hour trading volume of $819 million. Dogecoin is ranked 9th on CoinMarketCap, with a market cap of $22 billion and a circulation of 144 billion DOGE coins.
This Dogecoin price prediction explores the next potential target for DOGE as it hovers around the $0.15 level.
Dogecoin Price Prediction
On the 4-hour chart, DOGE has highlighted the $0.15100 pivot point, indicating a bullish Dogecoin price prediction. The immediate resistance is $0.15950, followed by $0.16980 and $0.18440.
On the downside, the immediate support is $0.14270, with further support at $0.13240 and $0.12030. The relative strength index (RSI) is currently at 53, indicating a neutral situation. The 50-day exponential moving average (EMA) is at $0.15130, suggesting that the market retains a bullish bias above this level.
Dogecoin has formed a symmetrical triangle pattern, which is forming a significant barrier near the $0.1545 mark. Meanwhile, support continues to be found near $0.1513 and is reinforced by the 50-day SMA.
The current market price is above the 50 EMA indicating a bullish bias, but Dogecoin must break the $0.1595 resistance level to confirm the continuation of the uptrend. This outlook is further strengthened given that the RSI is above 50, supporting a buying trend.
Dogecoin Price Prediction If Dogecoin sustains its position above the $0.15100 pivot point, it could push the price towards the $0.15950, $0.16980, and $0.18440 resistance levels.
However, a break below this pivot point could spark a sharp selling trend that could push the price towards the supports at $0.14270, $0.13240, and $0.12030. The market’s reaction to these key levels will be crucial in determining Dogecoin’s near-term direction.
All in all, the technical outlook for Dogecoin remains bullish above the $0.15100 pivot point. The immediate resistance at $0.15950 will be the first hurdle to overcome, followed by $0.16980 and $0.18440.
The current level of the RSI suggests that there is room for further gains, but caution is warranted if Dogecoin breaks below the pivot point. The 50-day SMA at $0.15130 provides a solid base for a sustained uptrend.
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