 price has witnessed strong buying pressure and has climbed by 100% in just four days. It pulled back by taking support on the 20-day EMA){kind=link}
- DOGE price is up by 50% over the past four days.
- Dogecoin price is nearing a good selling zone of $0.3400.
Dogecoin (DOGE) price has witnessed strong buying pressure and has climbed by 100% in just four days. It pulled back by taking support on the 20-day EMA and a sharp rally has been seen.
DOGE crypto price is nearing the major resistance zone of $0.3400. Here, the price may show weakness and the momentum could depend upon the cryptocurrency market behavior.
Analyst’s Take on DOGE Price
The price of Dogecoin has received a lot of attention lately, opinions are varied, though. If the token breaks through its main resistance levels, analyst Ali thinks it could hit a new high or even soar higher.
After that, he forecasted the long-term price. According to him, the DOGE price could be anywhere between $4 and $23. This might occur if it breaks through the 0.50 Fibonacci retracement level and then proceeds along the primary patterns of the last bull cycle.
Technical Analysis of DOGE Price Over 1-D Timeframe
Dogecoin crypto was trading at $0.2911 at press time which has surged by 4.74% over the past 24 hours. The market capitalization was $42.24 Million and the 24-hour trading volume was $18.24 Billion. The trading volume has increased by 168% which shows the engagement of new players.
If the price of the cryptocurrency asset encounters resistance from the main resistance level, it would be a selling signal. The majority of traders and investors may choose to book profits in this situation. A bearish momentum brought on by profit booking could cause the price to fall to the 200-day EMA.
However, additional buyers may gather if the DOGE crypto price breaks through the crucial resistance level. Buyers may benefit from the bull market here. The trading volume may continue to be bullish for a few weeks if it sustains the bullish momentum.
In terms of technical indicators, the RSI has caused a bullish crossover with the moving average that is based on the RSI. The overbought zone was getting closer, which might entice buyers.
Both the Signal line and the MACD have remained well above the Zero line. The histograms are now green instead of red. This demonstrated the upward trend.
Could DOGE Price Record New ATH Soon?
Jeremy is a crypto analyst who has shared his analysis about Doge crypto on X. He claims that the Dogecoin price has the potential to reach the $1 mark at the end of 2024 or the beginning of 2025.
i can officially say we are sending $DOGE to $1 very soon
— Jeremy (@Jeremyybtc) November 10, 2024
the bull run is here pic.twitter.com/XUKz3BLPdW
The cryptocurrency has triggered a bullish run and altcoins have displayed a bullish rally. Once the price manages to hold the $0.3400 territory, it may approach the $1 mark.
Dogecoin Price Prediction
DOGE price is experiencing significant upward momentum, with a remarkable 100% surge over just four days. As the price approaches the critical resistance level of $0.3400, traders should remain cautious, as this could lead to profit booking and a potential pullback.
The increased trading volume and positive technical indicators suggest ongoing engagement in the market, which could sustain the bullish trend if the resistance is breached.
One analyst predicted DOGE price could reach $1 by the end of 2024 or early 2025, if it holds on to the $0.300 territory and navigates market dynamics effectively.
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
