DOGE Price Prediction: April month has been a roller coaster ride for Dogecoin prices where it showed huge price swings but no commitment to a specific direction. Despite uncertain behavior, the coin price breached a long-coming resistance trendline on April 3rd offering an early sign for trend reversal. As of now, the buyers retest the breached trendline as a potential support to drive a sustained recovery rally.
- A potential breakout above $0.08 will encourage the Dogecoin price to a 24% rally
- A breakdown below the support trendline will undermine the bullish thesis
- The 24-hour trading volume in the Dogecoin coin is $1.16 Billion, indicating a 46% gain.
Amid the recent sell-off in the crypto market, the Dogecoin price witnessed a 16.7% loss since last week’s high of $0.095 and plugged to the current market value of $0.079. As a result, the coin plummeted below the local support of $0.084-0.0793 but found immediate support at the aforementioned trendline.
The daily chart showcasing lower price rejection candles at flipped trendline indicates buyers are obtaining strong support from this dynamic slope. On a contrary note, the recently breached $0.084 horizontal level may act as significant resistance causing the Dogecoin price to wobble in a narrow range.
Also Read: 15 New Cryptocurrencies In Upcoming Binance Listing For 2023
If market sentiment improves and the DOGE price gives a daily candle closing above $0.084, the memecoin will get back on the recovery track. The potential breakout may lead the price to 24% higher to rechallenge the $0.1 psychological mark.
On a contrary note, a breakdown below the support trendline will encourage SHIB price for longer correction.
MACD: The increasing gap between the falling MACD(Blue) and signal(orange) line indicate aggressive selling pressure in the market.
EMAs: the daily EMAs(20, 50, 100, and 200) moving just above the coin price reflect the buyers will face multiple resistance in a recovery attempt.
Dogecoin Price Intraday Levels
- Spot rate: $0.079
- Trend: Bullish
- Volatility: High
- Resistance levels- $0.08 and $0.085
- Support levels- $0.071 and $0.0628
The post DOGE Price Prediction: This Key Level will Determine if Dogecoin Price could Rise 24% or Tumble 10% appeared first on CoinGape.
- Mobile app
- Telegram Channel
- Telegram Group
- Binance Referral Link
- Bitmex Referral Link
- (Recommended For Leverage) ByBit Referral Link
- Buy Ledger Nano at discounted price
- Buy Cool Wallets at discounted price
Don't forget to share your review/suggestions for the android app.
All In One Crypto App is an execution-only service provider. The material provided on this website is for information purposes only and should not be understood as investment advice. Any opinion that may be provided on this page does not constitute a recommendation by All In One Crypto App or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own risks