DOGE Price Prediction – Dogecoin Recovery Could Stall At $0.170

7:30 am
April 22, 2024

Dogecoin is making an attempt a restoration wave above the $0.150 resistance zone in opposition to the United States Dollar. DOGE may just combat to transparent the $0.170 resistance zone.

  • DOGE began a restoration wave from the $0.1280 give a boost to zone in opposition to the United States buck.
  • The value is buying and selling above the $0.1500 degree and the 100 easy transferring moderate (4 hours).
  • There is a key bearish pattern line forming with resistance at $0.170 at the 4-hour chart of the DOGE/USD pair (knowledge supply from Kraken).
  • The value should settle above $0.170 to transport into a favorable zone and get started a recent surge.

Dogecoin Price Faces Hurdles

After a big decline, Dogecoin value discovered give a boost to at $0.1280. A low was once shaped at $0.1283 and DOGE began a good restoration wave, like Bitcoin and Ethereum. There was once a transfer above the $0.1350 and $0.140 resistance ranges.

The value climbed above the 23.6% Fib retracement degree of the downward wave from the $0.2093 swing prime to the $0.1283 low. However, the bears are nonetheless energetic and protective extra beneficial properties. There may be a key bearish pattern line forming with resistance at $0.170 at the 4-hour chart of the DOGE/USD pair.

Dogecoin may be underneath the $0.1650 degree and the 100 easy transferring moderate (4 hours). On the upside, the value is going through resistance close to the $0.1690 degree or the 50% Fib retracement degree of the downward wave from the $0.2093 swing prime to the $0.1283 low.

Source: DOGEUSD on TradingView.com

The subsequent main resistance is close to the $0.170 degree. An in depth above the $0.170 resistance would possibly ship the value towards the $0.1880 resistance. The subsequent main resistance is close to $0.200. Any extra beneficial properties would possibly ship the value towards the $0.220 degree.

Another Decline in DOGE?

If DOGE’s value fails to achieve tempo above the $0.170 degree, it might get started some other decline. Initial give a boost to at the problem is close to the $0.1525 degree.

The subsequent main give a boost to is close to the $0.1475 degree. If there’s a problem wreck underneath the $0.1750 give a boost to, the value may just decline additional. In the said case, the value would possibly decline towards the $0.1280 degree.

Technical Indicators

4 Hours MACD – The MACD for DOGE/USD is now gaining momentum within the bullish zone.

4 Hours RSI (Relative Strength Index) – The RSI for DOGE/USD is now above the 50 degree.

Major Support Levels – $0.1525, $0.1475 and $0.1280.

Major Resistance Levels – $0.1690, $0.1700, and $0.200.

Disclaimer: The article is supplied for tutorial functions most effective. It does now not constitute the critiques of NewsBTC on whether or not to shop for, promote or hang any investments and of course making an investment carries dangers. You are steered to habits your individual analysis prior to making any funding choices. Use knowledge equipped in this web page fully at your individual chance.


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