Dogecoin Price Analysis: DOGE slowly consolidates above $0.20, set for another upside test?
Dogecoin is a cryptocurrency that has been losing its traction lately. It has lost more than 30% of its value from its all-time high. However, the price action is pointing to the possibility that a bullish reversal could be in the making. Short-term support is at $0.20, and a horizontal support at $0.10 is likely to be tested. If the short-term trend can be reversed, the next major support will move up to $0.25, and 100 DOGE/USD.
The Dogecoin price has slowly consolidated above $0.20 in the last 24 hours, after trading as low as $0.11 at the start of the week. Prices have been held back by weak support at $0.18, which was followed by a rise to $0.20 this morning, where prices are currently consolidating.
Dogecoin Price Analysis: DOGE slowly consolidates above $0.20, set for another upside test? ~ by darknotetalk, June 14 2015.. Read more about dogecoin price prediction reddit 2021 and let us know what you think.
Overnight, DOGE shifted to the side.
The $0.20 level of support is still in place.
DOGE/USD is expected to continue its upward trend.
As a consolidation region around $0.20 was formed over the past 24 hours, Dogecoin price research suggests positive momentum will follow later this week. As a result, we expect DOGE to spike higher and record a lower swing high below $0.23, before moving down later next month.
Heat map of cryptocurrencies. Coin360 is the source of this information.
Over the past 24 hours, the entire crypto market has been trading with a modest positive trend. Bitcoin has gained 2%, while Ethereum has gained 2.8 percent. With an increase of 8.57 percent, Solana (SOL) is one among the top performers.
In the past 24 hours, Dogecoin’s price has consolidated over $0.20.
DOGE/USD moved in a range of $0.202 to $0.2085 during the past 24 hours, showing moderate volatility. Trading volume has dropped almost 40% to $1.27 billion, while total market capitalization is hovering at $26.6 billion.
DOGE/USD 4-hour chart: Is the DOGE on the verge of a last surge higher?
On the 4-hour chart, the Dogecoin price has formed a consolidation above $0.20, indicating that bulls are preparing for one more push higher.
4-hour chart of the DOGE/USD currency pair. TradingVie is the source of this information.
Over the last week, the price of Dogecoin has risen by more than 40%. DOGE/USD reversed and surged to the $0.215 level initially after making another lower bottom around the $0.16 mark on July 20th.
Dogecoin stabilized for many days after a regression down below $0.20, until another surge upward was observed on July 26th. This time, the next resistance was achieved at $0.23, and a few of hours later, an equally strong retracement was established, retesting the $0.23 level as support.
As bulls poised for another push higher later this week, Dogecoin began to consolidate once again. As a result, we are optimistic on DOGE/USD and anticipate a retest of the 0.23 level next.
Conclusion of the Dogecoin Price Analysis
Bullish price movement is expected later today when a new higher low is made around the $0.20 level, according to Dogecoin price research. However, based on the recent market movement, we believe DOGE/USD will continue to rise and reach the previous swing high of $0.23.
While you wait for Dogecoin to rise in value, check out our tutorials on Bitcoin fees, DeFi benefits, and what you can buy with Bitcoin.
Disclaimer: The material on this website is not intended to be trading advice, and.com assumes no responsibility for any investments made as a result of the information on this page. Before making any financial choices, we highly advise doing independent research and/or consulting with a competent expert.
Dogecoin price started the week on a strong note and moved into a clear uptrend. The price has now moved above the $0.2050 and $0.2100 levels. The coin is currently trading at $0.2092 and the market cap is around $145.0 million.. Read more about dogecoin price target reddit and let us know what you think.
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