Dogecoin (DOGE) Price Analysis! Dogecoin Pushes Critical Threshold, Here Are the Key Levels!
Dogecoin (DOGE) Price Analysis! Bitcoin (BTC) tested $48,000 and pulled back a bit with expected profit sales. The bullish expectation for altcoins continues as the price manages to hold above the SMA 200 level. Especially Dogecoin (DOGE) has a serious opportunity to reach May levels again. So, what are the current levels to follow for Doge?
Will Dogecoin (DOGE) Rise?
Dogecoin (DOGE ) price, which has increased by 40% in the last week, has provided serious gains to short-term investors. However, the majority of investors who buy with Elon Musk pumping expect to cover their losses with an average of $ 0.5.
Dogecoin continues its struggle at the $ 0.3 limit. Bitcoin price should at least remain stable so that the price does not break the supports again. The price, which rose to $ 0.313 on the Binance exchange during the day, is currently at $ 0.294.
You can see the important support levels in the chart above. The price, which is at the main resistance level, maintains its stable uptrend since $0.16. If the bulls do not lose their strength and Bitcoin stagnates for a while, Dogecoin (DOGE) can gather enough energy to continue its upward move.
Dogecoin (DOGE) Key Levels
Dogecoin (DOGE), which has been under the 100 MA for the last six weeks, can catch a serious bullish potential if it can hold above this. However, if this line cannot be maintained, 0.26 and 0.239 supports will be tested. Depending on the Bitcoin price, reaction purchases may come from these supports. However, at best, Dogecoin (DOGE) will try to maintain the 0.2 support if the overall markets turn its direction down.
The Stochastic RSI is currently heavily inflated so the price that can’t push itself up in a short time will likely experience minor pullbacks. It is not known how long the RSI can hold above 70, but as long as it does not fall from here, there is a possibility of a rise. Of course, prolonging this period will weaken this possibility.
On the other hand, Elon Musk and Mark Cuban gave Dogecoin the support it needed yesterday. Famous billionaires, who said that the best alternative as a swap tool is Dogecoin, accelerated the upward movement of the price.
The confirmed ascending channel and current data are sending bull markets signals for Dogecoin. Exceeding 0.32, the most important resistance, can open the door to rapid rises up to 30-40%.
However, as you know, cryptocurrency markets are extremely risky. Especially for Dogecoin (DOGE), memes tokens involve much more risk than usual , the information shared here does not constitute investment advice.