DOGE Price Prediction: These Levels Are Coming Soon! - News-Credit-Mortgage-Coin

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Friday, August 13, 2021

DOGE Price Prediction: These Levels Are Coming Soon!

 



Dogecoin tries to break the main resistance zone; Now the question is: will the bulls pass $0.30? The DOGE price level has risen nearly 40% over the past week. Dogecoin bulls are struggling to completely break the resistance zone. 500MA stands as support for the first time in almost 2 months.


Doge price prediction

DOGE price has been rather slow compared to its performance at the beginning of the year. Although about 77% revived from the lows, a stronger move is expected sooner or later. The overall cryptocurrency market has been on the rise last week, and the DOGE price seems to be one of the last to move. Much of DOGE's previous rally has been fueled by hype and social media influence, so we need to question the use case and stability of a coin that is mostly driven by such supports.

For the past 3 weeks DOGE has been trading in an ascending channel. Every time the price entered a trend, DOGE was sent to the opposite side of this uptrend. The past day, the price experienced one of these rejections in a top trend. For DOGE to be fully parabolic, it must break this uptrend along with a major resistance zone that has been holding the price low for over a month. This zone is between $0.269-$0.288 and if the bulls manage to hold this area, the price will likely hit both targets shown.


Situation in the short term

In the shorter term, we can see a trend line that has been respected since August 7. Should the bears turn DOGE back from its current resistance, the price could dip below this short-term trendline, which will likely confirm a drop to at least the main support at $0.239. The short-term trend line is accompanied by the 500MA line. This MA has been resisting for about 2 months and has held the price as support for the last day. A break below this MA along with the short term trend line will definitely send DOGE back below $0.25. Support will be found at $0.225 – $0.239.


Looking at the Stochastic RSI, we can see that a slight bearish divergence has formed. This occurs when price creates a higher high and strength creates a lower high. This has happened recently and could be a trigger for the power to drop below 50. The MACD has been pretty sideways for the past few days, indicating a larger move on the horizon. If the histogram marks red, this could confirm the existence of a short-term downtrend for DOGE. Doge at the time of writing: It was around $0.268.

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