Dogecoin Price Prediction: When will DOGE Start Recovery for $1?

Dogecoin price prediction showcases the token’s caged state inside the long term consolidation phase over the daily time frame chart.
DOGE cryptocurrency has slipped below 20, 50, 100 and 200-days Daily Moving Average.
Dogecoin price might initiate its rally by this time of 2023, specifies analysts from a bigger cryptocurrency firm.

Dogecoin price prediction suggests that the DOGE cryptocurrency has slipped below the rising parallel channel and now consolidates. Dogecoin price needs to attract more buyers in order to skip this consolidation phase over the daily time frame chart. However, Dogecoin price has dipped around 6.75% during the last week. DOGE cryptocurrency has slipped around 7.05% in the period of a month. Dogecoin price must attract more buyers to shoot volume during the intraday trading session.

Dogecoin price was at $0.08084 and has lost 1.63% of its market capitalization during the day’s trading session. Trading volume has decreased by 22.75% during the intraday trading session. This demonstrates that sellers are raiding the DOGE crypto price to fall towards the $0.078 support level. Volume to market cap ratio was at 0.02119.

Dogecoin price prediction suggests the downtrend momentum of DOGE crypto after falling from the rising parallel channel over the daily time frame chart. However, trading volume is also below average and needs to grow during the day’s trading session. Meanwhile, DOGE cryptocurrency has slipped below 20, 50, 100 and 200-days Daily Moving Average.

Analysts report that Dogecoin price might start its rally by mid 2023 as reports also confirm the same. DOGE crypto needs to get support and surge towards the primary resistance level of $0.090. As soon as Dogecoin price breaks out of the primary resistance level then investors might expect a significant jump through the upcoming rally.

In addition, Dogecoin price has gained around 31.76% in the last six months, while DOGE crypto has recovered around 15.54% year to date. This highlights that Dogecoin price might recover maximum during 2023.

Will Dogecoin Price Start Its Recovery From Here?

Technical indicators suggest the downside trend of Dogecoin price over the charts. Relative strength index showcases the downtrend momentum of Dogecoin price. RSI was at 42 and has been moving towards the oversold territory. MACD exhibits the downside trend of DOGE crypto. The MACD line is below the signal line after a negative crossover. Investors in Dogecoin need to wait until the DOGE crypto breaks out of the primary resistance level at $0.0900 and initiates the rally.

Summary

Dogecoin price prediction suggests that the DOGE cryptocurrency has slipped below the rising parallel channel and now consolidates. However, trading volume is also below average and needs to grow during the day’s trading session. Analysts report that Dogecoin price might start its rally by mid 2023 as reports also confirm the same. In addition, Dogecoin price has gained around 31.76% in the last six months, while DOGE crypto has recovered around 15.54% year to date. Technical indicators suggest the downside trend of Dogecoin price over the charts. Investors in Dogecoin need to wait until the DOGE crypto breaks out of the primary resistance level at $0.0900 and initiates the rally.

Technical Levels

Support Levels: $0.078 and $0.072

Resistance Levels: $0.0900 and $0.100

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.

Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing