- Dogecoin price prediction suggests the consolidation phase of the token inside the long term consolidation phase.
- DOGE crypto is trading above 20, 50, 100 and 200-days Daily Moving Average.
- The pair of DOGE/BTC is at 0.000005732 BTC with an intraday gain of 0.59%.
According to dogecoin price prediction, the token is attempting to return to the higher price range of the long-term consolidation phase on the daily chart. The DOGE cryptocurrency must first overcome the $0.093 resistance level, though, in order to move toward the higher price range. Following the breakout, DOGE might soon achieve some noteworthy success. Even if DOGE, the memecoin, is attempting to perform remarkably well during these difficult times, the entire cryptocurrency market is currently experiencing a carnage.
The estimated price of Dogecoin is $0.0969 at this time, and in the last day, its market capitalization increased by 1.17%. However, during the intraday trading session, trading volume fell by 31.00%. This suggests that sellers are getting ready to let DOGE revert to the lower price range.
On the daily price chart, the DOGE cryptocurrency price is attempting to surge toward the higher price range of the long-term consolidation phase. To prevent the decline, the token has to draw in additional buyers. To recover, DOGE will need the volume change to increase, which is currently below average. The DOGE stock is currently trading at its 20, 50, 100, and 200-day daily moving averages.
What do Technical Indicators suggest about Dogecoin Price?
Since the beginning of 2022, the price of DOGE (according to Dogecoin price prediction) has been moving sideways within the long-term consolidation phase. Technical signs point to the DOGE cryptocurrency’s sideways motion.
The consolidation stage of DOGE is highlighted by the Relative Strength Index. The RSI is currently at 52 and attempting to stay above neutrality. The DOGE downward momentum is visible in MACD during the consolidation phase. The MACD line is about to have a negative crossover with the signal line. Investors in DOGE must hold off until more purchasers gather and bring the token closer to the higher price range.
Conclusion
According to dogecoin price predictions, the token is attempting to return to the higher price range of the long-term consolidation phase on the daily chart. The DOGE cryptocurrency must first overcome the $0.093 resistance level, though, in order to move toward the higher price range. Following the breakout, DOGE might soon achieve some noteworthy success. To prevent the decline, the token has to draw in additional buyers. Technical signs point to the DOGE cryptocurrency’s sideways motion.
Technical Levels
Support Levels: $0.095 and $0.075
Resistance Levels: $0.111 and $0.120
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2022/12/08/dogecoin-price-prediction-doge-cryptocurrency-marching-towards-the-lower-price-range-whats-next/