Price: $0.19589 0.7757%
Market Cap: 28.74B 1.1434%
Volume (24h): 4.38B 0.2%
Dominance: 1.1434%
Price: $0.19589 0.7757%
Market Cap: 28.74B 1.1434%
Volume (24h): 4.38B 0.2%
Dominance: 1.1434% 1.1434%
  • Price: $0.19589 0.7757%
  • Market Cap: 28.74B 1.1434%
  • Volume (24h): 4.38B 0.2%
  • Dominance: 1.1434% 1.1434%
  • Price: $0.19589 0.7757%
Home > Information news > Dogecoin (DOGE) Price Prediction: What Lies Above $0.10?

Dogecoin (DOGE) Price Prediction: What Lies Above $0.10?

Release: 2024/02/29 06:28 Reading: 553

Original author:BeInCrypto

Original source:https://beincrypto.com/?p=474198

Dogecoin (DOGE) Price Prediction: What Lies Above $0.10?

The Dogecoin (DOGE) price broke out from long- and short-term diagonal resistance levels, moving above $0.100 today.

DOGE is approaching a critical horizontal resistance area which has existed for more than a year. Will it break out?

Dogecoin Approaches Pivotal Level

The weekly time frame technical analysis shows the DOGE price broke out from a long-term descending resistance trend line in November 2023. The upward movement led to a new yearly high of $0.108 next month. Howevver, the DOGE price has fallen since.

In January 2024, DOGE returned to the descending resistance trend line (green icon) and bounced. The Dogecoin price has moved upwards since but has yet to break above its 2023 highs.

The weekly Relative Strength Index (RSI) gives a bullish reading. When evaluating market conditions, traders use the RSI as a momentum indicator to determine whether a market is overbought or oversold and whether to accumulate or sell an asset. The RSI is above 50 and increasing, both signs of a bullish trend.

DOGE Price Prediction: What Happens After the Breakout?

The daily chart shows that DOGE has increased since bouncing at the midline of an ascending parallel channel on January 8. It broke out from an ascending parallel channel yesterday and finally moved above $0.100 today.

The daily RSI supports this increase since the indicator is trending upward and is above 70.

If DOGE breaks out from its main resistance at $0.105, it can increase by another 18% and reach the next one at $0.119.

Despite the bullish DOGE price prediction, a rejection from the $0.105 area can trigger an 9% decrease to the channel’s resistance trend line at $0.090.

For BeInCryptos latest crypto market analysis, click here

Best crypto platforms in Europe | February 2024

Trusted

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

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.