Dogecoin Price Analysis: DOGE Price To Retest $0.155 This Uptober?

The cryptocurrency market continues to display a volatile price action, showcasing price movements within a concise time period. Notably, with Bitcoin failing to maintain its price above the $63k mark, the memecoin category has also experienced a decline.

Leading tokens such as Dogecoin (DOGE) remain hovering near their significant support/resistance levels, indicating a mixed-price action. Will DOGE price exhibit a resurgence this Uptober?

Dogecoin Meme Coin: Potential Retest of Support Trendline

Amid escalated price volatility, the Dogecoin crypto price has dropped approximately 4% in the past 24 hours, with a trading volume of $775.71 million. Moreover, it has undergone a 9.17% correction over the past week. However, it has established a rising channel pattern and has持续交易 within it since September.

Successively, it has surged 11.81% over the past 30 days and exhibits a Year-to-Date (YTD) return of +19.91%. Furthermore, with a market capitalization of $15.692 billion, it has secured the 08th position in the market.

Dogecoin Technical Sentiments

The Simple Moving Average (SMA) is on the verge of recording a bullish convergence on the 1D time frame. This suggests that the DOGE memecoin might continue to gain value this week.

However, the MACD indicator reveals a consistent red histogram in the Dogecoin price chart, highlighting a mixed-price sentiment for the largest meme coin.

Prospective Dogecoin Price Movement in 2024

If the memecoins regain momentum, this could culminate in the Doge coin price retesting its resistance level of $0.127. Moreover, if the bullish sentiment intensifies, this could result in it progressing towards its upper resistance level of $0.155 in the near future.

On the contrary, if the bears overpower the bulls, the Dogecoin price could retest its support level of $0.101. Furthermore, if the bears dominate the crypto market, this could lead to it plummeting towards its crucial support level of $0.0780.

Interested in the memecoin leader's long-term prospects? Peruse our Dogecoin (DOGE) Price Prediction 2024 - 2030.