Dogecoin (DOGE/USD) May Finally be Gaining Stability Above $0.12
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Last month, we observed the Dogecoin market attempting to break through the $0.12 price level. However, after a brief surge, the market stabilized around the $0.10 mark. In late September, Dogecoin demonstrated renewed upward momentum, reaching towards $0.12 but encountering resistance at this level. Following a short-lived peak at $0.13, the market retreated below $0.12, finding support above $0.10. This recent price action in the crypto signal suggests that bullish forces have gained significant ground and may be poised for further upward movement.
Dogecoin Market Data
- DOGE/USD Price Now: $0.127
- DOGE/USD Market Cap: $ 18.6 billion
- DOGE/USD Circulating Supply: 146.4 billion
- DOGE/USD Total Supply: 146.9 billion
- DOGE/USD CoinMarketCap Ranking: #8
Key Levels
- Resistance: $0.13, $0.14, and $0.15
- Support: $0.090, $0.085, and $0.008.
The Dogecoin Market Through the Lens of Indicators
The Dogecoin market appears to be making a strong effort to establish $0.12 as a support level, which could fuel further bullish momentum. Technical indicators support this positive outlook. The trading volume histogram is notably robust, reinforcing the current bullish candlestick. However, the Relative Strength Index (RSI) is approaching overbought territory, with a reading of 68, suggesting that profit-taking may occur near the $0.132 level, the previous high. If bullish momentum persists into the next trading session, the $0.132 resistance level could be at risk of breaking, potentially paving the way for a more significant upward move.
DOGE/USD Price Prediction: 4-Hour Chart Analysis
From a shorter-term perspective, specifically on the 4-hour chart, the bullish momentum in the Dogecoin market may be reaching a peak. The formation of less significant candlesticks at this elevated price level could be a cautionary sign for traders. However, given the overall bullish trend, characterized by higher lows, a potential pullback followed by a continuation of the uptrend remains a possibility. Investors should monitor for the emergence of new, higher support levels. A potential level to watch is around $0.12. If the price falls below this level, it could retest the $0.10 support before rebounding.
