DOGE/USD Sees Sharp 11% Rise, What to Expect?

The Dogecoin price prediction shows an amazing intraday hike as the coin rises from today’s low of $0.124 to touch the daily high of $0.158.

Dogecoin Prediction Statistics Data:

• Dogecoin price now – $0.148
• Dogecoin market cap – $19.78 billion
• Dogecoin circulating supply – 132.6 million
• Dogecoin total supply – 132.6 million
• Dogecoin Coinmarketcap ranking – #8

DOGE/USD Market

Key Levels:

Resistance levels: $0.200, $0.220, $0.240

Support levels: $0.100, $0.080, $0.060

DOGE/USD is trading above the 9-day and 21-day moving averages as the coin hovers at $0.148 after touching the daily high of $0.158. However, Dogecoin is seen focusing on the bullish momentum after a sustainable break above the upper boundary of the channel. The coin has gained over 16.78% within 24 hours as it is using the support as a jumping-off ground to develop the upside momentum, which is now gaining traction.

Dogecoin Price Prediction: What is the Next Direction for Dogecoin?

On the upside, if the Dogecoin price stays above the 9-day and 21-day moving averages, the market price may likely break through another resistance above the upper boundary of the channel. Meanwhile, the technical indicator shows that the bulls are ready for action especially when the signal line of the Relative Strength Index (14) stays within the overbought region. Any further bullish movement may pave the way to the resistance levels of $0.200, $0.220, and 0.240.

On the contrary, if the price retreats and heads toward the moving averages, the market may be compelled either to a range-bound or begin a downward movement. This could serve as a major blow to the market sentiments as traders may interpret it as a sign of underlying weakness. The next available support may come at $0.120, which could be followed by the critical supports at $0.100, $0.080, and $0.060.

Against BTC, one thing to note here is that the bullish movement has come to stay as the coin moves to stay above the upper boundary of the channel. This may likely cause the market to find the potential resistance level at 900 SAT and above.

However, if peradventure buyers failed to hold the current market price at 721 SAT, it may likely begin a downward movement, but dropping further could bring the coin to face the lower boundary of the channel and could hit the support level at 500 SAT and below.

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