TL;DR Breakdown
- Dogecoin price prediction expects a rise to $0.019 mark.
- Strong support lies at the $0.006 mark.
- Strong resistance lies at the $0.009 mark.
The Dogecoin price prediction by Shansungli suggests a continued ascension until the cryptocurrency reaches the $0.019 mark. The bigger picture shown by the Dogecoin price prediction depicts that the cryptocurrency will hit the $0.13 mark by the end of this idea.
On the 2nd of January, the price rose above the $0.008 level after turning very bullish and rising more than 50 percent in its value.
1-Day Dogecoin price analysis
While most of the altcoin market has seen sideways or descending movements, the Dogecoin price has shot up by 50% on the charts over the course of the first two days of 2021. The start of a new year has been good for the cryptocurrency as the Bitcoin BTC price nears the $30000 mark. The BTC price held above the $29000 level on the 2nd of January whilst most of the leading altcoins saw their fair share of bearish descent.
The price has under a continuous bullish ascension where it hit a day’s high of $0.0084. The peer-to-peer cryptocurrency has been rapidly becoming serious, even though it started as a joke from an internet meme. The oscillators show a buy signal for the cryptocurrency, while the Moving Averages depicts a strong buy condition for Dogecoin. None of the 15 Moving Averages are on sell while 14 appear to be on the buy.
The Moving Average Convergence Divergence (MACD) line is crossing above the signal line while the histogram size appears to be increasing in the positive region. This means that the cryptocurrency is under a bullish bias. The Relative Strength Index (RSI) has been traveling near the overbought region and above the midline. The technical indicator closed at 63.
The currency has been under a bullish momentum on the smaller time frame as well, with the price testing the upper Bollinger band while it’s supported by the midline. This means that the cryptocurrency will see a further uptrend in the smaller time frame.
Dogecoin price prediction: What to expect?
The chart below by the Trading View analyst Shansungli shows that Dogecoin is up for a run towards the $0.15 mark in the long-term trade. Looking at the chart, we can see that the cryptocurrency’s price has not seen any major incline through the course of 2019 and 2020. The cryptocurrency finally turned bullish at the end of 2020 and then made a move towards the $0.008 mark, following a 50 percent increase in its value.
Per this Dogecoin price prediction, the cryptocurrency will continue this price ascension until it hits the $0.019 flat resistance. The cryptocurrency broke out of a falling triangle in July, and it is headed towards another falling triangle. The price previously broke out of a similar triangle in Q1 2017.
All of these three triangles lie in a big ascending channel, and the cryptocurrency is to rise towards the flat resistance at $0.019 to complete its next move. The midline lies near the $0.012 level for now and the cryptocurrency is headed for the midline of the big ascending channel up next. The price has been varying inside the major channel ever since the cryptocurrency came into being in 2014.
