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Breaking News: Crypto Bulls Rejoice: Congresswoman Confirms Powell’s Imminent Firing

Dogecoin Price Prediction: Doge Could Rally Further To $0.10

Aayush Jindal
Aayush Jindal
1 year ago
2 mins read
Dogecoin (DOGE)

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Dogecoin is gaining pace above the $0.088 resistance against the US Dollar. DOGE could rise further if there is a close above the $0.093 resistance.

  • DOGE gained pace and traded above the $0.088 resistance against the US dollar.
  • The price is trading above the $0.088 zone and the 100 simple moving average (4-hours).
  • There is a crucial bullish trend line forming with support near $0.0868 on the 4-hours chart of the DOGE/USD pair (data source from Kraken).
  • The pair could rise further if there is a clear close above the $0.093 resistance.

Dogecoin Price Eyes More Gains

After forming a base above the $0.080 zone, dogecoin price started a steady increase. DOGE was able to slowly climb higher above the $0.082 and $0.085 resistance levels.

There was a clear move above the $0.088 resistance zone to move further into a positive zone. However, the bears were active near the $0.092 and $0.093 resistance levels. The price is now consolidating gains above $0.090, unlike bitcoin and ethereum (correcting lower).

Doge price is trading above the $0.088 zone and the 100 simple moving average (4-hours). There is also a crucial bullish trend line forming with support near $0.0868 on the 4-hours chart of the DOGE/USD pair.

Recently, there was a minor decline from the $0.0948 high. It traded below the 23.6% Fib retracement level of the upward move from the $0.0844 swing low to $0.0948 high. On the upside, the price is facing resistance near the $0.0925 level. The first major resistance is near the $0.0930 level.

Dogecoin Price Chart

Source: DOGEUSD on TradingView.com

A clear move above the $0.093 resistance might send the price towards the $0.098 resistance. Any more gains might send the price towards the $0.100 level. A clear move above the $0.100 resistance could open the gates for an increase towards the $0.112 level.

Dips Supported in DOGE?

If DOGE price fails to gain pace above the $0.093 level, it could start a downside correction. An initial support on the downside is near the $0.090 level.

The next major support is near the $0.088 level or the 61.8% Fib retracement level of the upward move from the $0.0844 swing low to $0.0948 high. If there is a downside break below the $0.088 support, the price could decline further. In the stated case, the price might decline towards the $0.086 level and the trend line.

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 – $0.088, $0.0860 and $0.0820.

Major Resistance Levels – $0.092, $0.093 and $0.098.

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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.

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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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