X

Dogecoin Price Prediction 2022: Again Short-Sellers Failed to Drag Dogecoin Below $0.1308 Essential Verge

  • Dogecoin reflected a reversal trend after retesting the $0.1308 key border while downwards momentum.
  • Dogecoin indicates near to 19.5% recovery in the weekly time frame after a bloodbath scenario.
  • DOGE/BTC pair price is favorable by 5.75% at 0.000003951 BTC.

Sellers appeared as the price reached an all-time high, clutching the dogeCoin tightly and seeing the slaughter. Then, in the horizontal range, Dogecoin began to consolidate. Finally, the dogecoin price found support at $0.148; However, the assent price broke down the sideways range due to the preceding massacre scenario, and the coin rebounded from $0.1308.

The live data of dogecoin coin is noticing bullish indication by 11.15% at $0.1509; over the past 24-hours, trading volume increased by 22.5% at $1.48 billion, showing investors are taking an interest in the dogecoin. However, asset prices with bitcoin pair trading in the green zone by 5.75% at 0.000003951 BTC as well as DOGE/ETH pair incline upwards by 6.21% at 0.00005942 ETH. Now dogecoin has 1.16% market dominance in the entire crypto industry, and the Volume to Market Capitalization ratio is 0.0753.

For more than a month, Dogecoin has been trading in a small horizontal band. Although coin bears attempted to break this range twice at the time of writing, the asset has since returned to it after retesting the $0.1308 level. The coin made contact with the bottom border of the Bollinger Bands indicator, rebounded, and is now attempting to retest the BB indicator’s half-line.

The RSI has dipped into oversold territory and has turned bullish

Dogecoin price is approaching 20 SMA (yellow line), which stood to be the volatility point for the coin. If investors succeed in sustaining dogecoin above 20 MA, then 50 and 200 moving averages could be the following moving averages.

Recently, RSI indicator dipped into oversold territory and bounced back, and now RSI is at the 44 mark as a bullish to sideways momentum.

Conclusion 

At the cutting-edge market environment, Dogecoin represents a positive trend sign. If the coin breaks through the 20 SMA, the asset will face a bullish hurdle at the 200 MAs.

Support level – $0.1308 and $0.0867

Resistance level – $0.2835 and $0.3711

Disclaimer 

The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

Categories: News
Ritika Sharma: Ritika Kumari Sharma is an Economics Honors graduate from the University of Calcutta. She is completely into finance and believes that cryptocurrencies are the future. She is an enthusiast learner about the cryptocurrency and blockchain technology.