NewsBTC
2023-11-08 04:48:21

Dogecoin Price Prediction – DOGE Rally To $0.085 Seems Imminent

Dogecoin is showing positive signs above the $0.0720 resistance against the US Dollar. DOGE could rally over 10% if it clears the $0.0765 resistance zone. DOGE started a decent increase above the $0.070 resistance against the US dollar. The price is trading below the $0.0720 level and the 100 simple moving average (4 hours). There is a key bullish trend line forming with support near $0.0712 on the 4-hour chart of the DOGE/USD pair (data source from Kraken). The price could start a strong rally like Solana if it clears the $0.0765 resistance. Dogecoin Price Aims Key Upside Break After forming a base above the $0.065 level, Dogecoin price started a fresh increase. DOGE broke the $0.0685 resistance zone to move into a positive zone, like Bitcoin and Ethereum. The bulls were able to push the price further above the $0.0720 resistance. However, the price failed to clear the $0.0765 resistance and corrected lower. There was a move below the $0.0740 level. The price declined below the 23.6% Fib retracement level of the upward move from the $0.0655 swing low to the $0.0764 high. DOGE is now trading above the $0.072 level and the 100 simple moving average (4 hours). There is also a key bullish trend line forming with support near $0.0712 on the 4-hour chart of the DOGE/USD pair. The trend line is near the 50% Fib retracement level of the upward move from the $0.0655 swing low to the $0.0764 high. Source: DOGEUSD on TradingView.com On the upside, the price is facing resistance near the $0.0750 level. The first major resistance is near the $0.0765 level. A close above the $0.0765 resistance might send the price toward the $0.080 resistance. The next major resistance is near $0.0820. Any more gains might send the price toward the $0.085 level. Are Dips Limited in DOGE? If DOGE’s price fails to gain pace above the $0.0765 level, it could continue to move down. Initial support on the downside is near the $0.0720 level. The next major support is near the $0.0712 level and the trend line. If there is a downside break below the $0.0712 support, the price could decline further. In the stated case, the price might decline toward the $0.070 level or the 100 simple moving average (4 hours). Technical Indicators 4 Hours MACD – The MACD for DOGE/USD is now gaining momentum in the bullish zone. 4 Hours RSI (Relative Strength Index) – The RSI for DOGE/USD is now above the 50 level. Major Support Levels – $0.0720, $0.0712, and $0.0700. Major Resistance Levels – $0.0750, $0.0765, and $0.0850.

Ricevi la newsletter di Crypto
Leggi la dichiarazione di non responsabilità : Tutti i contenuti forniti nel nostro sito Web, i siti con collegamento ipertestuale, le applicazioni associate, i forum, i blog, gli account dei social media e altre piattaforme ("Sito") sono solo per le vostre informazioni generali, procurati da fonti di terze parti. Non rilasciamo alcuna garanzia di alcun tipo in relazione al nostro contenuto, incluso ma non limitato a accuratezza e aggiornamento. Nessuna parte del contenuto che forniamo costituisce consulenza finanziaria, consulenza legale o qualsiasi altra forma di consulenza intesa per la vostra specifica dipendenza per qualsiasi scopo. Qualsiasi uso o affidamento sui nostri contenuti è esclusivamente a proprio rischio e discrezione. Devi condurre la tua ricerca, rivedere, analizzare e verificare i nostri contenuti prima di fare affidamento su di essi. Il trading è un'attività altamente rischiosa che può portare a perdite importanti, pertanto si prega di consultare il proprio consulente finanziario prima di prendere qualsiasi decisione. Nessun contenuto sul nostro sito è pensato per essere una sollecitazione o un'offerta