Dogecoin (DOGE) Price Prediction: DOGE/USDT Sustains Above the $0.1000 Mark
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Dogecoin (DOGE) Price Prediction: July 8
While Dogecoin’s price has crashed through the $0.1200 and $0.1100 marks, the token has been able to sustain above the $0.1000 level. This is still 1000X above the token’s price at launch, and 10000X above its all-time low of $0.0000869 in May 2015. Today’s trading has presented an upside correction off the $0.1000 support level.
DOGE/USDT Long-term Trend: Bearish (Daily Chart)
Key Price Levels:
Resistance Levels: $0.1100, $0.1200, and $0.1300
Support Levels: $0.1000, $0.0900, and $0.0800
The last price candle on this Dogecoin price chart can be seen keeping the market above the technical level of $0.1000. Nevertheless, trading activities remain below all the Exponential Moving Average (EMA) lines. However, the Stochastic Relative Strength Index (SRSI) lines seem to have presented a bullish crossover in the oversold region. In respect to this, the last price candle can be seen contracting upwards, leaving it with a longer lower shadow.
Dogecoin Price Prediction: DOGE/USDT Upside Forces May Have Laid Siege at the $0.1000 Mark
Dogecoin’s price activity can be seen making lower lows over a medium timeframe. The market had consolidated for a while just above the $0.1100 threshold. However, the consolidation ended when downward forces gained more momentum about five sessions ago. This resulted in a further price decline toward the $0.1000 mark.
The session has presented some upside correction but still stays pressured below all the EMA lines. The upside bearing of the SRSI line aligns with the upside contraction seen in this session. Nothing too optimistic can be expected at this point in this market unless upside forces can sustain the pressure. This will propel the market through the 20-day EMA, which may then serve as a basis for bullish expectations.
DOGE/USDT Medium-term Trend: Dogecoin Market Is Making Micro Bullish Progress (4H Chart)
While only upside contractions have been seen on the daily Doge market, the 4-hour market can be seen to have further expanded the view of what’s ongoing in the market. Here, it is revealed that the market had rebounded from near the $0.0900 mark through the $0.1000 mark. Price action regressed towards the $0.1000 price level, but the support held, as the market corrected upwards off it since the previous session.
Price action remains below the EMA lines, but the SRSI lines have also delivered a bullish crossover in the oversold region. The bullish crossover is just at the initial point and seems to suggest that upside forces may push the market past the 20-day EMA line, and upside convictions may strengthen from there on. Perhaps then, the market may resurface above the $0.1000 mark, or else the market may retreat once more towards the $0.0900 mark.
