- The Dogecoin price has dropped by 14% in the last three days.
- Dogecoin’s 24-hour trading volume has decreased by 20%.
On a daily time frame, the Dogecoin (DOGE) price was continuously facing resistance from the trendline. On 20th January, the DOGE price jumped by 15% and reached near the trendline but failed to sustain. In the next three days, the DOGE price fell by 20% indicating the bears’ strength.
The DOGE price is continuously taking support from the 200-day moving average and displays positive moves. Currently, the Dogecoin price is staying between the 100-day and 200-day moving averages.
The Dogecoin crypto is trading at $0.078 with an intraday loss of 3.11%. Its market capitalization is $11.14 billion with a rise of 4% in the last 24 hours. Its 24-hour trading volume is $553.17 million.
We predict that Dogecoin’s price will increase by 1.40% and reach $0.078006 by January 28, 2024. The Fear & Greed Index is showing 50 (Neutral) despite the current sentiment being bearish, according to our technical indicators. The last 30 days have seen Dogecoin having 12/30 (40%) green days and 6.27% price volatility. Based on our forecast, it’s now a bad time to buy Dogecoin.
Dogecoin Price Technical Analysis Over Daily Timeframe
On a wider timeframe, the DOGE price has made many attempts to sustain the $0.105 level, but sellers have dominated and a sharp fall has been observed. Recently, the Dogecoin price has faced resistance from the $0.105 mark and performed negatively.
Currently, the DOGE price has taken support from the 200-day moving average. If the price slips below the moving average and sustains, it may approach the strong support level of $0.0750 and a multi-year low can be seen.
On the other hand, if the Dogecoin price rises and surpasses the trendline, the buyers may become strong and the price may reach the $0.100 hurdle. This hurdle is a strong resistance level and if the price surpasses this mark and sustains above it, the buyers may become confident and a multi-year high can be achieved.
Dogecoin Price Forecast Based on Technical Indicators
Based on data from January 24, 2024, at 00:19, the general Dogecoin price prediction sentiment is bearish, with 7 technical analysis indicators signaling bullish signals, and 21 signaling bearish signals.
Dogecoin Price Prediction FAQs
What is the DOGE price forecast today?
Based on our Dogecoin prediction chart, the price of Dogecoin will increase by 0.00% and reach $ 0.076927 by January 24, 2024.
What is the DOGE price prediction tomorrow?
According to our analysis, the Dogecoin price is predicted to fall by 2.95% to reach $0.0759 by tomorrow.
What is the Dogecoin price forecast for this week?
Our Dogecoin price prediction is that DOGE will trade within a price range of $0.076927 and $0.78006 this week. By January 28, 2024, Dogecoin will have reached its higher value target with an increase of 1.40% from the current price.
What is the current Dogecoin sentiment?
Our technical analysis shows that Dogecoin’s current sentiment is bearish. Most technical indicators indicate a sell signal.
Conclusion
The Dogecoin crypto price is positive in the short-term but the price has been struggling between $0.0600 and $0.1100 for more than a year. According to the analysts, the DOGE price will remain bullish over $0.075, and buying opportunities can be generated over the $0.1100 mark.
Technical levels
Resistance: $0.090 & $0.100
Support: $0.0750 & $0.0560
Disclaimer
Investing in cryptocurrencies and other Initial Coin Offerings (“ICOs”) is especially volatile and speculative, and this article does not advise investing in cryptocurrencies or other ICOs. Since everyone is unique, a certified professional should be continually consulted before making any economic decisions.