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Dogecoin Price Prediction: Will DOGE See Higher Prices in the Future?

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Long-Term Outlook

Dogecoin Weekly Chart – Source Tradingview.com

A look at the Weekly chart for Dogecoin shows that the price has found support above the 200-period MA, inside the support area near $0.002.

However, it is trading below the 50 and 100-period moving averages.

There has been minimal price movement since December 2018.

The past two weekly candles have been bullish.

The MACD has made a bullish cross and is moving upward with strength, but is not positive yet.

The RSI is at 42, indicating neither overbought nor oversold conditions.

Medium-Term Outlook

A look at the 3-day chart shows that the price has been following a descending support line for the past 368 days.

Furthermore, we can see that there has been significant bullish divergence developing in the RSI since Dec 2018.

Also, the MACD is moving upward with strength but is not positive yet.

The price is trading below the 50, 100 and 200-period moving averages.

Dogecoin Daily Chart – Source Tradingview.com

A look at the daily chart gives us the minor resistance area near $0.0022.

The price has made multiple unsuccessful attempts at breaking out above the first resistance area.

The daily chart also gives us the first instance in which the MACD is positive.

Furthermore, we can see that the price has been following an ascending support line since February.

The price is above the 50-period MA but below the 100 and 200-period ones.

Short-Term Outlook and Price Prediction

Dogecoin 6-hour Chart – Source Tradingview.com

A look at the 6-hour chart shows that the price has been trading inside an ascending triangle for the past 50 days.

The triangle is developing very slowly with several unsuccessful attempts at breaking out.

Price Prediction:

I believe that during this week the price will consolidate inside the triangle and possibly break out.

Conclusions:

  • Price is following a descending support line.
  • There is medium-term bullish divergence developing.
  • Price is trading inside an ascending triangle.

Latest Dogecoin News:

  • Bitcoin [BTC] & Dogecoin [DOGE] Price Action – Market Leader Bitcoin Approaches Point of Seller Liquidity

  • Dogecoin Price Prediction: Will DOGE Break Out of the Triangle?

DISCLAIMER: Investing or trading in digital assets, such as those featured here, is extremely speculative and carries substantial risk. This analysis should not be considered investment advice, use it for informational purposes only. Historical performance of the assets discussed is not indicative of future performance. Statements, analysis, and information on blokt and associated or linked sites do not necessarily match the opinion of blokt. This analysis should not be interpreted as advice to buy, sell or hold and should not be taken as an endorsement or recommendation of a particular asset.

Dogecoin Price Prediction: Will DOGE See Higher Prices in the Future? was originally found on Cryptocurrency News | Blockchain News | Bitcoin News | blokt.com.

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