Dogecoin Price Prediction: Will Musk Factors Fuel DOGE For Rally?

Dogecoin price prediction highlights the recovery of DOGE crypto and its sustainability at the primary resistance level of $0.10075.
DOGE crypto has surged above 20, 50, 100 and 200-days Daily Moving Average.
Dogecoin price might recover more if it sustains at the primary resistance level and may reach $0.15 recovery level ahead.

Although experts believe DOGE will likely rally after its escape, dogecoin price prediction demonstrates the cryptocurrency’s sideways momentum. The price of Dogecoin must remain above the present resistance level in order to keep moving upward over the charts.

Elon Musk, the billionaire CEO of Tesla, has offered DOGE strong support, according to analysts, which could drive the crypto to new heights. Analysts predict that Dogecoin’s price will rise in 2023 and reach $0.1 by the middle of the year. In evidence the recent incidence of Twitter logo as Dogecoin Cryptocurrency is the signal for DOGE rally in 2023 and Elon might help Dogecoin price ahead to rally and recover maximum during 2023.

Dogecoin’s price was $0.09708 and over the previous 24 hours, it gained 2.05% of its market capitalization. However, the intraday trading session saw a 66% drop in trading volume. The ratio of Market capitalization to volume was at 0.1353.

The sideways momentum of the DOGE cryptocurrency over the charts can be seen in the Dogecoin price prediction. The dogecoin price prediction 2023 also supports the facts regarding DOGE cryptocurrency’s greatest recovery in 2023. Analysts believe that when Dogecoin’s price hits the $0.10 level in the middle of 2023, it will begin its recovery rally.

Additionally, the Dogecoin price quarterly report shows a 32.67% recovery rate, which is good. The price of Dogecoin has increased by 38.06% so far this year, supporting the accuracy of the 2023 price prediction. Moreover, DOGE crypto has recovered more than 50% in the past six months.

Technical indicators suggest the overbought situation of Dogecoin price over the charts. Relative strength index confirms the DOGE crypto being overbought. RSI was at 70 and is inside the overbought territory.

MACD exhibits the upward velocity of Dogecoin price. The MACD line is way ahead of the signal line after a positive crossover. Investors in DOGE crypto need to wait until the Dogecoin price sustains and above $0.10075 primary resistance level.

Summary

Although experts believe DOGE will likely rally after its escape, dogecoin price prediction demonstrates the cryptocurrency’s sideways momentum. Elon Musk, the billionaire CEO of Tesla, has offered DOGE strong support, according to analysts, which could drive the crypto to new heights. Analysts predict that Dogecoin’s price will rise in 2023 and reach $0.1 by the middle of the year. Moreover, DOGE crypto has recovered more than 50% in the past six months. Technical indicators suggest the overbought situation of Dogecoin price over the charts.

Technical Levels-

Resistance level- $0.10075 and $0.15

Support level- $0.0900 and $0.080

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 assets 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