- Dogecoin price prediction expects a rise to $0.0097.
- Strong resistance currently lies at the $0.0093 mark.
- Strong support currently lies at the $0.0091 mark.
The Dogecoin price prediction by Azad Ghorbani suggests an upward breakout from a triangle pattern. The DOGE price is expected to test the $0.0097 mark and move long towards the $0.0107 level. On the 19th of January, Dogecoin suffered price fluctuations between the $0.0091 and $0.0092 levels.
1-Day Dogecoin price analysis
Dogecoin has gradually descended towards the $0.0092 level over the last five days. On the 18th of January, Dogecoin was seen varying between $0.009 to $0.0092 with abrupt jumps between these price levels. The highest price for Dogecoin $0.00922, whereas the lowest was $0.00906 on the 19th of January. At the time of writing, Dogecoin stands at the $0.00922 mark. Per Coinmarketcap.com, Dogecoin has a market capitalization of $1,183,189,262.
We see 12 for the buying indication as 10 stand neutral and four appear under the sell indication across the technical indicators board. Nine oscillators appear neutral, with one indicating a buy signal and one under the sell signal. 11 moving averages stand at the buy position with one neutral moving average and three at the sell signal.
The DOGE price is currently testing the Bollinger bands’ midline, marking the support at $0.00906. If the midline manages to cross above the DOGE price trajectory, the next target price will be $0.0062; otherwise, the price should bounce at the midline and move higher towards $0.011. The bands seem to be contracting on the 1D time frame.
Dogecoin price prediction: What’s next for the DOGE/USD pair?
Looking at the Dogecoin price prediction by Azad Ghorbani, we can see that the DOGE price has been squeezing into a triangle formation. The price volatility has also dropped by a lot, which suggests a breakout from the pattern.
The price can breakout in two ways from here; either it will push upwards or downwards. If the cryptocurrency breaks towards the downside, the price will test lower support levels at $0.0088 and $0.0085.
If both of these support levels break, the target price for Dogecoin will be at $0.007, which will prove bearish for the cryptocurrency. In another scenario, if the cryptocurrency breaks upwards, the next resistance will be marked at $0.009. If the DOGE price can break above this flat resistance, it will rise towards $0.0010 in the long position.
As the price trajectory tests the upper boundary of the triangle, an upward breakout is more likely to occur. Dogecoin might retest the broken trendline after the breakout, which means that a brief price correction may occur before the price ascension.
Analyst Tayez expects a similar move from the DOGE/USD pair as they have marked an up-channel for the cryptocurrency. The Dogecoin price prediction here suggests an upward breakout from the triangle pattern inside the main channel. Per the analyst, the price will push to the $0.011 mark after breaking above the descending trendline.
The analysis expects Dogecoin to trend above the ascending support level found at $0.011. If this support continues to hold the cryptocurrency, an upward bounce and breakout will be confirmed.