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Home»EXCHANGE NEWS»Dogecoin Price Prediction – DOGE Pump to $0.12 Looks Imminent
EXCHANGE NEWS

Dogecoin Price Prediction – DOGE Pump to $0.12 Looks Imminent

By Crypto FlexsFebruary 15, 20243 Mins Read
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Dogecoin Price Prediction – DOGE Pump to alt=
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Dogecoin is pacing above the $0.085 area against the US dollar. DOGE may begin a new rally above the $0.088 and $0.095 resistance levels.

  • DOGE is showing positive signs above the $0.085 area against the US dollar.
  • The price is trading above the $0.0865 level and the 100 simple moving average (4-hours).
  • On the 4-hours chart of the DOGE/USD pair, a breakout occurred above the main contraction triangle at the resistance level of $0.0820 (data source from Kraken).
  • The price may extend the rally above the $0.088 and $0.095 resistance levels.

Dogecoin price turns green

In the last few sessions, Dogecoin price has started a significant rise from the $0.080 support zone. DOGE cleared many obstacles near $0.0820 and entered positive territory.

On the 4-hours chart of the DOGE/USD pair, a breakout occurred above the main contraction triangle at the resistance level of $0.0820. Although it broke through the resistance level of $0.0850, the upside was less than that of Bitcoin and Ethereum. A high was made near $0.0883 and the price is now consolidating gains.

It is trading above the 23.6% Fib retracement level, which recently increased from the $0.0795 swing low to the $0.0883 high. DOGE is also trading above the $0.0865 level and the 100 simple moving average (4-hours).

Source: DOGEUSD on TradingView.com

On the other hand, the price is finding resistance near $0.0880. The next major resistance is near the $0.0920 level. A close above the $0.0920 resistance line may cause the price to head towards the $0.095 resistance line. The next major resistance is near $0.100. If more profits are made, the price may drop to the $0.120 level.

Fixing DOGE’s shortcomings?

If the price of DOGE fails to rise above the $0.0880 level, a downward correction may begin. Initial support for the downside is near the $0.0860 level.

The next major support is near the $0.0840 level or the 50% Fib retracement level of the recent increase from the $0.0795 swing low to the $0.0883 high. A break below the $0.0840 support could lead the price to fall further. If indicated, the price may fall to the $0.0820 level.

technical indicators

4-Hour MACD – The MACD for DOGE/USD is now losing momentum in bullish territory.

4-Hour RSI (Relative Strength Index) – The RSI for DOGE/USD is now above the 50 level.

Key support levels – $0.086, $0.084, $0.082.

Key resistance levels – $0.088, $0.092, $0.10.

Disclaimer: This article is provided for educational purposes only. This does not represent NewsBTC’s opinion on whether to buy, sell or hold any investment, and of course investing carries risks. We recommend that you do your own research before making any investment decisions. Your use of the information provided on this website is entirely at your own risk.

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