Price: $0.39246 2.7773%
Market Cap: 57.65B 1.7511%
Volume (24h): 8.86B 0.4%
Dominance: 1.7511%
Price: $0.39246 2.7773%
Market Cap: 57.65B 1.7511%
Volume (24h): 8.86B 0.4%
Dominance: 1.7511% 1.7511%
  • Price: $0.39246 2.7773%
  • Market Cap: 57.65B 1.7511%
  • Volume (24h): 8.86B 0.4%
  • Dominance: 1.7511% 1.7511%
  • Price: $0.39246 2.7773%
Home > Information news > DOGE Price Prediction – Can Dogecoin Bulls Overcome This Hurdle?

DOGE Price Prediction – Can Dogecoin Bulls Overcome This Hurdle?

Release: 2024/05/13 17:20 Reading: 802

Original author:NewsBTC

Original source:https://www.newsbtc.com/?p=607694

,Dogecoin extended losses and traded below the $0.1420 support zone against the US Dollar. DOGE is now recovering but facing key hurdles at $0.1450.

DOGE price tested the $0.1360 support and started a recovery wave. The price is trading below the $0.1450 level and the 100 simple moving average (4 hours). There is a key bearish trend line forming with resistance at $0.1430 on the 4-hour chart of the DOGE/USD pair (data source from Kraken). The price must settle above $0.1450 to move into a positive zone and start a fresh surge.

Dogecoin Price Extends Losses

After a close below $0.150, Dogecoin price extended losses and moved into a short-term bearish zone, like Bitcoin and Ethereum. There was a drop below the $0.1450 support zone. A low was formed at $0.1358 and DOGE is attempting a recovery wave.

There was a minor increase above the $0.1420 resistance level. The price climbed above the 23.6% Fib retracement level of the downward move from the $0.1538 swing high to the $0.1358 low. Dogecoin is still below the $0.1450 level and the 100 simple moving average (4 hours). On the upside, the price is facing resistance near the $0.1430 level. There is also a key bearish trend line forming with resistance at $0.1430 on the 4-hour chart of the DOGE/USD pair. The next major resistance is near the $0.1450 level and the 100 simple moving average (4 hours). It coincides with the 50% Fib retracement level of the downward move from the $0.1538 swing high to the $0.1358 low. Source: DOGEUSD on TradingView.com

A close above the $0.1450 resistance might send the price toward the $0.1535 resistance. Any more gains might send the price toward the $0.1620 level.

Another Decline In DOGE?

If DOGE’s price fails to gain pace above the $0.1450 level, it could start another decline. Initial support on the downside is near the $0.140 level. The next major support is near the $0.1360 level. If there is a downside break below the $0.1360 support, the price could decline further. In the stated case, the price might decline toward the $0.1200 level.

Technical Indicators

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

4 Hours RSI (Relative Strength Index) – The RSI for DOGE/USD is now above the 50 level.

Major Support Levels – $0.1400, $0.1360 and $0.1200.

Major Resistance Levels – $0.1430, $0.1450, and $0.1535.

Selected Topics

  • Dogecoin whale activity
    Dogecoin whale activity
    Get the latest insights into Dogecoin whale activities with our comprehensive analysis. Discover trends, patterns, and the impact of these whales on the Dogecoin market. Stay informed with our expert analysis and stay ahead in your cryptocurrency journey.
  • Dogecoin Mining
    Dogecoin Mining
    Dogecoin mining is the process of adding new blocks of transactions to the Dogecoin blockchain. Miners are rewarded with new Dogecoin for their work. This topic provides articles related to Dogecoin mining, including how to mine Dogecoin, the best mining hardware and software, and the profitability of Dogecoin mining.
  • Spacex Starship Launch
    Spacex Starship Launch
    This topic provides articles related to SpaceX Starship launches, including launch dates, mission details, and launch status. Stay up to date on the latest SpaceX Starship launches with this informative and comprehensive resource.
  • King of Memes: Dogecoin
    King of Memes: Dogecoin
    This topic provides articles related to the most popular memes, including "The King of Memes: Dogecoin." Memecoin has become a dominant player in the crypto space. These digital assets are popular for a variety of reasons. They drive the most innovative aspects of blockchain.