Dogecoin Price Prediction:  On November 18,  the DOGE price witnessed a pivotal reversal from the resistance line of a symmetrical triangle pattern that has significantly influenced its price trajectory for nearly two years. This shift resulted in an 18% drop in Doge value, marking a weekly low of $0.0706. Can we expect this downward trend to persist?

Also Read: Dogecoin Whale Activity on the Rise, DOGE Price to $0.1?

또한 읽어 보세요: 상승 중인 Dogecoin 고래 활동, DOGE 가격이 0.1달러로?

Dogecoin Price Prediction: Triangle Pattern Govern Price Behaviour

• The rising DOGE price witnessed intense supply pressure around the $0.085 mark.
• The 50-day EMA slope continues to act as dynamic support

50일 EMA 기울기는 계속해서 역동적인 지지선 역할을 합니다.

• The 24-hour trading volume in Dogecoin is $312 Million, indicating a 17% decrease.

Source-Tradingview 

Amidst a recent uptick in the cryptocurrency market, Dogecoin price found support at the psychologically significant level of $0.07. Over the past three days, buyers have recovered 10% of lost value, bringing it to $0.0777. 

최근 암호화폐 시장이 상승하는 가운데 Dogecoin 가격은 심리적으로 유의미한 0.07달러 수준에서 지지를 받았습니다. 지난 3일 동안 구매자는 손실된 가치의 10%를 회복하여 $0.0777에 이르렀습니다.

If this bullish momentum continues, we could see a further 10% increase, potentially challenging the upper trendline of the symmetrical triangle at around $0.085. Historically, each encounter with this trendline has led to a substantial drop, often retreating to the triangle’s lower trendline. 

Hence, a potential clash at this level might incite substantial selling pressure, leading to a bearish reversal to the new emerging support trendline(black). A breach below this point could signal a more pronounced correction, possibly resulting in a 25% decline from the current trading price to reach the lower boundary.

Growth In the Dogecoin Addresses 

Dogecoin 주소의 성장

Source- Intotheblock

This on-chain metric serves as an indicator of the network’s actual utilization and activity of users on the blockchain. This month has seen a notable uptick in the creation of new Dogecoin addresses and active user engagement, coinciding with the token’s price recovery. This surge in activity is likely spurred by recent developments, including the announcement of physical Dogecoin and Bitcoin tokens scheduled to be sent to the moon on December 23rd.

• Exponential Moving Averages: The coin price above the crucial EMAs(20, 50,100. and 200) day EMA, suggesting that the short-term recovery is in place.

지수 이동 평균: 중요한 EMA(20, 50,100 및 200)일 EMA보다 높은 코인 가격으로 단기 회복이 이루어지고 있음을 나타냅니다.

• Relative Strength Index: The daily RSI around 54.69 reflects a neutral stance, however, the downward slope on the indicator, hints at a decrease in buying momentum.

The post Dogecoin Price Prediction Hints 10% Jump Ahead, But There a Twist appeared first on CoinGape.

Dogecoin 가격 예측 힌트는 10% 앞서지만 반전이 있음을 암시하는 게시물이 CoinGape에 처음 등장했습니다.