The Dogecoin price climbed 3% in the last 24 hours and 26% in the past week to trade at $0.392 as of 2.25 a.m. EST. Trading volume increased 3% to $2.81 billion.
The DOGE price is currently stuck between a resistance at $0.40 and a support at $0.38. It is awaiting either a new push that could allow it to surge or a correction to break the support.
Dogecoin Price Prediction
Dogecoin's technical indicators suggest that the price has found stability, at least for the time being. Its Bollinger bands have been following a pattern of a sudden widening brought by a rapid price surge, then a narrowing and a brief period of stability before the same pattern repeats.
This pattern has been recorded three times in the last two days, and during that time, the price has fluctuated between the upper and lower bands multiple times. Each new price surge pushed the upper band further down, while corrections only took it down until it touched the lower band, after which the price increased again.
On the other hand, the project's Relative Strength Index (RSI) value saw strong fluctuations in the neutral zone, but managed to surge up or down to the overbought or oversold area several times.
This suggests that traders are likely keeping a close eye on the RSI movement and are acting in accordance with its performance. It has not breached either the line at 30 or the one at 70 in the last 30 hours or so. Outside of the strongest fluctuations which moved to the edges of the overbought and oversold areas, the fluctuations were fairly small, going from 45 to 55 and back.
Moving forward, the pattern might repeat itself, and DOGE could see another price surge following its recent small decline and the narrowing of the bands. Alternatively, the market could cause it to break out in either direction, depending on whether the sentiment changes in a significant way.