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The Dogecoin price prediction is likely to lose ground towards $0.110 but the recovery above this level may help to mitigate the initial pressure.
Dogecoin Prediction Statistics Data:
- Dogecoin price now – $0.120
- Dogecoin market cap – $15.9 billion
- Dogecoin circulating supply – 132.6 million
- Dogecoin total supply – 132.6 million
- Dogecoin Coinmarketcap ranking – #8
DOGE/USD Market
Key Levels:
Resistance levels: $0.190, $0.200, $.210
Support levels: $0.070, $0.060, $0.050
DOGE/USD is at the moment moving sideways and it may likely trade below the 9-day moving averages if the bulls fail to hold the current market value. However, the Dogecoin price touches the $0.118 support level, but there is a continuation of sideways movement in the near term. The cryptocurrency is currently consolidating near $0.120 and it could decline towards the $0.110 support if the technical indicator faces the south. Meanwhile, the Dogecoin price is struggling to resume higher and the price might revisit the $0.127 support level before it could climb again.
Dogecoin Price Prediction: Next Direction for Dogecoin (DOGE)?
If the Dogecoin price crosses below the 9-day and 21-day moving averages, it is likely for the coin to experience another sharp drop below the 9-day MA. However, if there is an upside break above $0.150, the price could test the $170 resistance level. Any further gains might push the price toward the $190, $0.200, and $0.050 resistance levels.
On the downside, the $0.118 level is initial support. If there are more downsides, the price could touch the critical support levels at $0.070, $0.060, and $0.050. However, DOGE/USD is yet to show some positive signs but with the look of things, it might dip further in the short term. The Relative Strength Index (14) is seen moving above the 70-level, indicating an indecisive market movement.
Against Bitcoin, the Dogecoin price keeps hovering below the 9-day moving average as the bears are still dominating the market. At the moment, DOGE/BTC is currently trading at 0.1201 SAT and the bulls is yet to push the price to the north. Therefore, if the price heads towards the lower boundary of the channel, the next key supports may likely be at 700 SAT and below.
However, a possible bullish movement could push the market towards the moving averages of 9-day and 21-day within the channel, a break above this may enable the Dogecoin price to reach a high of 700 SAT and above but the Relative Strength Index (14) is moving to cross below the 70-level, which shows that the market might experience a bearish movement.
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