The Future of Dogecoin: Expectations by Chart Analysis
Dogecoin, which is among the memecoins that became popular in 2021, has not been able to show a presence in recent rallies and this has come to the fore in many blockchain ecosystems, especially the Solana network. Let's examine the expectations for the future of Dogecoin.
When the four-hour Dogecoin chart is examined, the rising channel formation is seen and support-resistance levels are important. Closing below the support line in the last bar formations increases the likelihood of negative scenarios.
The $0.08822 level has been set as a critical support point for Dogecoin, with closes below that level increasing sales pressure. Other important support levels are listed at $0.08529 and $0.08350.
Looking at the resistance levels, the levels of 0.09089, 0.09298 and $0.09500 stand out. A close above the $0.09089 level intersecting EMA 21 could eliminate a possible bear trap by keeping DOGE in the formation zone.
In the weekly Dogecoin chart analysis, the falling channel pattern stands out and the uptrend started with the resistance break last month. However, the fact that the EMA 200 level acts as resistance leads to selling pressure in the DOGE price.
On the weekly chart, the $0.08830, 0.08403 and $0.07824 levels are determined as important support points, while the 0.09380, 0.09810 and $0.10644 levels are followed as resistance. A close above the EMA 200 level could signal the $DOGE price gaining momentum. #dyor
