DOGE/USD May Slide Below $0.080 Level

The Dogecoin price prediction may cross into the negative side if the price crosses below the lower boundary of the channel.

Dogecoin Prediction Statistics Data:

• Dogecoin price now – $0.084
• Dogecoin market cap – $11.3 billion
• Dogecoin circulating supply – 132.6 billion
• Dogecoin total supply – 132.6 billion
• Dogecoin Coinmarketcap ranking – #9

DOGE/USD Market

Key Levels:

Resistance levels: $0.150, $0.160, $0.170

Support levels: $0.038, $0.028, $0.018

DOGE/USD price may drop lower if the coin finds support at the $0.080 level, but during the European session today, the Dogecoin price tried to touch the 9-day moving average before falling back to where it is currently trading at the $0.084 level. At the moment, if the bears continue to push the market further lower, immediate support below the $0.080 level may be located. Beneath this, further supports could be found at $0.038, $0.028, and $0.018 respectively.

Dogecoin Price Prediction: DOGE Price Could Follow the Sideways Movement

As the daily chart reveals, if the buyers can hold the current market value at $0.084 and the Dogecoin price begins to climb higher, bulls may expect immediate resistance to be located at $0.095, which is above the 9-day and 21-day moving averages. However, moving toward the upper boundary of the channel may locate the higher resistance levels at $0.150, $0.160, and $0.170. Meanwhile, the technical indicator Relative Strength Index (14) is seen ranging below the 40-level, which shows that the market may follow a sideways movement.

Against Bitcoin, Dogecoin is trading within the 9-day and 21-day moving averages. Therefore, if the price actions go lower, Dogecoin may perpetually be under the control of a bear. Meanwhile, traders need more strong and more consistent resistance to keep the price from the bear run.

Nevertheless, with the current movement in the daily chart, if the price rises above the 9-day and 21-day moving averages, heading towards the upper boundary of the channel could meet the potential resistance level at 800 SAT and above. Meanwhile, if the market price head to the south, crossing below the lower boundary of the channel could hit the critical support at 300 SAT and below, but the technical indicator Relative Strength Index (14) remains above the 50-level.

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