Dogecoin (DOGE) Price Prediction: DOGE/USDT Prints Consistent Gains Towards the $0.1200 Mark
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Dogecoin (DOGE) Price Prediction: July 15
Upside forces in the Dogecoin market have been able to halt downward corrections above the $0.1000 threshold. As a result, the market has been climbing back up towards a technical resistance at the $0.1200 price level. The market has just crossed a very important mark, which may further strengthen bullish activity.
DOGE/USDT Long-term Trend: Bullish (Daily Chart)
Key Price Levels:
Resistance Levels: $0.1200, $0.1400, and $0.1600
Support Levels: $0.1000, $0.0800, and $0.0600
The price candle corresponding to the ongoing session can be seen just above the 20-day Exponential Moving Average (EMA) line, while the 50- and 200-day EMA lines can be seen delivering a crossover above price movement. However, this has exerted very little downward pressure on price activity in the session. Additionally, the Stochastic Relative Strength Index (SRSI) is still rising into the overbought region.
Dogecoin Price Prediction: DOGE/USDT Price Action May Receive More Upside Push
Price movement in the Dogecoin daily market may go further up. Seeing that the support at the $0.1000 mark has held, this suggests that downward forces may have been exhausted. Subsequent sessions have seen the price of the token increase gradually. The fact that price action has risen above the 20-day EMA line shows that upside forces may begin to gain more momentum from here on out.
Likewise, the activity on the SRSI indicator lines supports the opinion that bulls are still pushing the market. The lines of this indicator have risen past the 80 mark, with the leading line reaching the 100 level, while the lagging line is at 83. However, it appears that the SRSI lines are hyperextended given the small magnitude of gains seen in this market, which may imply that the $0.1200 mark could be a strong resistance to price movement.
DOGE/USDT Medium-term Trend: Dogecoin Market Seems Ready to Surpass the $0.1200 Mark (4H Chart)
In the 4-hour timeframe, price activity has risen past more EMA lines. At this point, the token is trading above the 20-, 50-, and 100-day EMA lines. A new session has begun with buyers taking the lead, as indicated by the corresponding price candle. The SRSI line also seems to be rising steeply upwards after a crossover above the 80 mark of the indicator.
At this point, it can be seen that the market maintains an upward trajectory. Although it appears that upside forces are strained, they are determined to stay in the lead. However, bullish traders may want to play it safe by placing their targets not too far from the $0.1200 price level.
