Dogecoin Price Analysis: Doge Performing Positive In Consolidation Bracket

Dogecoin (DOGE) Price Analysis: DOGE Price sustains Over Support ...

  • Dogecoin is gradually gaining a positive move with sustaining the level of $0.025 in today’s market.
  • The DOGE/BTC pair performed positively with an overall gain of 1.41% bringing the level of 0.00000027 BTC.
Source: Coinmarketcap

As dogecoin (doge) is suffering price consolidation since the past week, on the 7day-weekly chart it started with the price level of $0.0024 and had a top price level of $0.0026. This price level of $0.0026 is proving to provide key resistance to Shiba Inu. However, the market forces can provide dogecoin price a needed positive boost for breaking the resistance level of $0.0026.

The current dogecoin price is at the level of $0.002580 with the market capitalization of $321,486,942 and volume traded of $198,545,377. The current circulating supply is 124,654,460,995 DOGE. 

The short-term prediction for dogecoin price is bullish. The only barrier for the altcoin will be the resistance level of $0.0026. It showed its potential at the starting of February when it crossed the resistance level of $0.0030 and touched its year-high of $0.0035.

Dogecoin Price Analysis 

Screenshot (354)
Source: Tradingview

The dogecoin price chart reflects on the price consolidation faced by Shiba Inu from the starting of this month. The consolidation is now being a strong barrier to the price growth of the altcoin. 

DOGE is facing price consolidation between the price range of $0.0024 and $0.0027. The significant uptrend in yesterday’s market was unable to break the price bracket as the cryptoasset climbed to the price level of $0.0025.

The technical indicators and oscillators somewhat favor the bulls. The MACD levels have again sustained the bullish zone after downtrending nature. This is certainly a good indication for dogecoin holders 

The 24hour- RSI is also showing positive nature and is about to reach a bullish level of 60. This also favors the bulls. 

The CCI managed to have a positive divergence to the overbought region, which indicates that there’s still some buying left for the altcoin in the market. 

Resistance Level: $0.0027

Support Level: $0.0024 and $0.0020

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