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Dogecoin Price Prediction as DOGE Drops to $0.15 Level – Here is the Next Target
Last Updated: May 20, 2024 1:12am EDT | 2 minute read
Dogecoin (DOGE) is currently trading at $0.1522, down 1.77% over the past 24 hours, on trading volume of $819 million. Ranked 9th on CoinMarketCap, Dogecoin has a market capitalization of $22 billion and a circulating supply of 144 billion DOGE coins.
This Dogecoin Price Prediction explore the next potential targets for DOGE as it hovers around the $0.15 level.
Dogecoin Price Prediction
On the 4-hour chart, DOGE highlights the pivot point at $0.15100, suggesting a bullish Dogecoin price forecast. Immediate resistance is identified at $0.15950, followed by $0.16980 and $0.18440.
On the downside, immediate support is found at $0.14270, with further support levels at $0.13240 and $0.12030. The Relative Strength Index (RSI) is currently at 53, indicating neutral conditions. The 50-day exponential moving average (EMA) is positioned at $0.15130, suggesting that the market is maintaining a bullish bias above this level.
Dogecoin has formed a symmetrical triangle pattern, presenting a significant hurdle around the $0.1545 mark. At the same time, support persists around the $0.1513 level, strengthened by the 50-day EMA.
The current market price above the 50 EMA indicates an uptrend, but Dogecoin needs to break above the $0.1595 resistance level to confirm the continuation of the uptrend. The RSI supporting a buying trend, given its position above 50, further strengthens this outlook.
Dogecoin Price Prediction If Dogecoin were to maintain its position above the $0.15100 pivot point, it could push prices higher towards the resistance levels at $0.15950, $0.16980 and $0, 18440.
However, a break below this pivot point could trigger a strong selling trend, pushing the price towards the support levels at $0.14270, $0.13240 and $0.12030. The market’s response to these key levels will be crucial in determining Dogecoin’s near-term direction.
In short, Dogecoin’s technical outlook remains bullish above the $0.15100 pivot point. The immediate resistance at $0.15950 will be the first obstacle to overcome, followed by $0.16980 and $0.18440.
The current level of the RSI suggests room for further gains, although caution is needed should Dogecoin fall below the pivot point. The 50-day EMA at $0.15130 provides a solid foundation for the ongoing uptrend.
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