$DOGE Price Eyes $0.2 As Key Indicators Trigger Buy Signal - CoinGape Analytics

Over the past week, Dogecoin price has decreased by approximately 9.8%, ranging between $0.121 and $0.093. Over the past month, a broader downtrend has led to a 24% drop. Recently, Dogecoin’s price rebounded by 19% from a low of $0.09136 to its current level. Despite this rebound, DOGE’s price action remains within a falling channel and is currently at the mid-level of that range.

The price of DOGE is also trending below the 21-day, 50-day, and 200-day simple moving averages (SMA), which may not be bullish for the asset. Nevertheless, DOGE is still in an uptrend as it has posted lower highs since hitting the recent low. Dogecoin price prediction shows the asset may rise further and test the channel’s top around $0.12, which coincides with the 200-day SMA. A break above the channel may catapult the DOGE price to $0.208, with occasional barriers around $0.15 and $0.18.

On the flip side, if bears prevail, the DOGE price may drop lower to the bottom of the channel around $0.082, with some support around $0.10.

The DOGE relative strength index (RSI 14) is at 38.54, just slightly above the oversold (OS) area. DOGE recently visited the OS zone on July 4, and this recent building buy pressure is part of the reversal. DOGE price is expected to continue moving upward as bullish momentum builds.

The Chaikin money flow (CMF) indicator is at 0.08 and rising, which signals buying pressure is building and starting to dominate on Dogecoin. Furthermore, the average direction index (ADX) sits at 47.38, an indication of a strong upward movement trend.