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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Dogecoin Price Prediction: Doge Could Surge If It Clears This Resistance

Aayush Jindal
Aayush Jindal
1 year ago
2 mins read
Dogecoin Price

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Dogecoin is rising above the $0.070 resistance against the US Dollar. DOGE could surge if there is a clear move above the $0.075 resistance zone.

  • DOGE gained pace and traded above the $0.070 support against the US dollar.
  • The price is trading below the $0.075 zone and the 100 simple moving average (4-hours).
  • There is a crucial bearish trend line forming with resistance near $0.074 on the 4-hours chart of the DOGE/USD pair (data source from Kraken).
  • The pair could start a major increase if there is a clear move above $0.0750.

Dogecoin Price Regains Traction

After a steady decline, dogecoin price found support near the $0.0625 zone. DOGE formed a base above the $0.0625 level and recently started a fresh increase, similar to bitcoin and ethereum.

There was a break above the $0.0650 and $0.0680 resistance levels. The bulls pumped the price above the $0.0700 resistance zone. Finally, it tested the $0.0750 resistance zone and the 100 simple moving average (4-hours). There is also a crucial bearish trend line forming with resistance near $0.074 on the 4-hours chart of the DOGE/USD pair.

DOGE price is trading below the $0.075 zone and the 100 simple moving average (4-hours). On the upside, the price is facing resistance near the $0.0740 level. It is near the 50% Fib retracement level of the main drop from the $0.0831 swing high to $0.0627 low.

The first major resistance is near the $0.0755 level. It is near the 61.8% Fib retracement level of the main drop from the $0.0831 swing high to $0.0627 low.

Dogecoin Price Prediction

Source: DOGEUSD on TradingView.com

A clear move above the $0.0755 resistance might send the price towards the $0.080 resistance. Any more gains might send the price towards the $0.088 level. A clear move above the $0.088 resistance could open the gates for an increase towards the $0.092 level.

Dips Supported in DOGE?

If DOGE price fails to gain pace above the $0.075 level, it could start a downside correction. An initial support on the downside is near the $0.070 level.

The next major support is near the $0.0675 level. If there is a downside break below the $0.0675 support, the price could decline further. In the stated case, the price might decline towards the $0.0625 level.

Technical Indicators

4-Hours MACD – The MACD for DOGE/USD is now losing momentum in the bullish zone.

4-Hours RSI (Relative Strength Index) – The RSI for DOGE/USD is now above the 30 level.

Major Support Levels – $0.070, $0.0675 and $0.0625.

Major Resistance Levels – $0.0740, $0.0750 and $0.080.

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Aayush Jindal
Aayush Jindal

Aayush Jindal

Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.

Read more

From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.

In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions.

Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences.

Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department.

At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe.

In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

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