- DOGE price has revived nearly 35% off weekly low
- DOGE price aims to clear its long term trend
- RSI has broken 72 day trend
DOGE Price Overview
The Dogecoin community has been awaiting a bullish trend over the past few months. As the cryptocurrency market starts to gain back bullish steam, DOGE looks primed to begin a strong uptrend. The meme coin mania only thrives in a bullish type market, which shows DOGE is not far much different than the rest. Once DOGE clears over its last two important marks, we can expect a strong bull trend to take place.
DOGE has been stuck under a long term trend line over the past 75 days. At the time of writing, price is attempting to break above this trend. If this is deemed successful, bulls must hold to experience a large price spike. Along with this trend line lies the 30 day MA. This MA has acted as resistance for over two months.
Once both of these marks clear, DOGE will be ready for a spike to its major resistance of $0.239. This mark will be the true test for bulls to smash through.
Doge Coin Price Analysis: DOGE/USDT 1 Day Chart
At the time of writing, DOGE sits on top of its major support of $0.193. This seems to be a great floor for DOGE to spike off of. If bears step in and pull price below this support, we should expect a fall back to major support of $0.166. This would be a bearish scenario which would likely land prices to a new low of $0.141. This scenario will likely only play out if BTC fails to continue holding above $33,000.
While looking at the RSI, we can see the strength has broken over a 72 day trend line. This is a great sign for revival and as long as strength can blow past the 50 value, DOGE will surely surge soon. The MACD has formed a curved bottoming formation which is a very bullish sign.
The MACD must break and clear the 0 value for the strong uptrend to take place.
DOGE intraday levels
- Spot rate: $0.208
- Trend: Bearish
- Volatility: Medium
- Support: $0.193
- Resistance: $0.215
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