The Dogecoin price prediction is currently making another attempt at breaking out above the $0.10 resistance level.
DOGE/USD Market
Key Levels:
Resistance levels: $0.12, $0.14, $0.16
Support levels: $0.05, $0.03, $0.01
DOGE/USD bulls were rejected around the $0.095 level as the coin relapsed to the downside. However, the Dogecoin price is heading towards the 9-day and 21-day moving averages and it’s likely to push the coin above the resistance level of $0.10. More so, the technical indicator Relative Strength Index (14) indicates bullish movement as the signal line moves out of the oversold region, indicating that the market sentiment is likely to be bullish.
Dogecoin Price Prediction: DOGE Price May Follow the Uptrend
The Dogecoin price is changing hands at $0.090 where it faces up. More so, if the DOGE/USD breaks the $0.08 level, the coin may continue its upward movement to retest the previous high of $0.10. Therefore, the nearest resistance levels are located at $0.12, $0.14, and $0.16. On the contrary, if the coin decides to cross below the lower boundary of the channel, it may reach the support levels at $0.05, $0.03, and $0.01 respectively giving a fade bullish trading volume.
DOGE/BTC Market: Dogecoin Price Moves in Sideways
When compared with Bitcoin, the Dogecoin price has been moving in the same direction below the 9-day and 21-day moving averages as the bulls may begin to push the coin to the positive side. On the downside, if the market price crosses below the lower boundary of the channel, the next support level may come at 280 SAT and then locate further key support at 250 SAT and below if the sell-off later becomes huge.
However, on the upside, if the bulls push the price back above the resistance level of 300 SAT; Dogecoin could face the 320 SAT. Any other resistance level lies at 330 SAT and above while the signal line of the Relative Strength Index (14) moves to cross above 40-level to continue the bullish movement. On the other hand, if it moves below 35-level, it may bring more bearish pressure into the market.
Read more:
Credit: Source link
