Dogecoin Price Prediction – DOGE Could Soon Pump 20% Like Bitcoin
24 Outubro 2023 - 2:08AM
NEWSBTC
Dogecoin is climbing higher above the $0.065 resistance against the
US Dollar. DOGE could rally over 20% if it clears the $0.070
resistance zone. DOGE started a decent increase above the $0.0625
resistance against the US dollar. The price is trading below the
$0.0650 level and the 100 simple moving average (4 hours). There is
a key bullish trend line forming with support near $0.0650 on the
4-hour chart of the DOGE/USD pair (data source from Kraken). The
price could start a strong rally like Bitcoin if it clears the
$0.070 resistance. Dogecoin Price Starts Increase After forming a
base above the $0.0575 level, Dogecoin price started a fresh
increase. DOGE broke the $0.060 resistance zone to move into a
positive zone. The recent pump in Bitcoin and Ethereum also pushed
DOGE further higher. There was a steady increase above the $0.0650
resistance zone. A high is formed near $0.0693 and the price is now
consolidating gains. It is also above the 23.6% Fib retracement
level of the recent increase from the $0.0574 swing low to the
$0.0693 high. DOGE is now trading above the $0.065 level and the
100 simple moving average (4 hours). On the upside, the price is
facing resistance near the $0.0685 level. There is also a key
bullish trend line forming with support near $0.0650 on the 4-hour
chart of the DOGE/USD pair. Source: DOGEUSD on TradingView.com The
first major resistance is near the $0.0685 level. The main
resistance is near $0.070. A close above the $0.070 resistance
might send the price toward the $0.0735 resistance. The next major
resistance is near $0.0750. Any more gains might send the price
toward the $0.080 level. Are Dips Supported in DOGE? If DOGE’s
price fails to gain pace above the $0.070 level, it could start a
downside correction. Initial support on the downside is near the
$0.0665 level. The next major support is near the $0.0650 level. If
there is a downside break below the $0.0650 support, the price
could decline further. In the stated case, the price might decline
toward the $0.0632 level or the 50% Fib retracement level of the
recent increase from the $0.0574 swing low to the $0.0693 high.
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 – $0.0665, $0.0650, and $0.0632. Major
Resistance Levels – $0.0685, $0.0700, and $0.0750.
Dogecoin (COIN:DOGEUSD)
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