Dogecoin (DOGE) Price Prediction: DOGE/USDT Price Skyrockets
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The Dogecoin market has been seeing massive bullishness since the bull market started. This has led to the market rising through multiple resistance levels. The market has continued upward without establishing support at any psychological support level.
DOGE/USDT Long-Term Trend: Bullish (Daily Chart)
Key Price Levels:
Resistance: $0.3000, $0.3500, $0.4000
Support: $0.2500, $0.2000, $0.1500
The last price candle can be seen retaining a strong bullish characteristic, even after testing the resistance at the $0.3000 threshold. Subsequently, the mentioned price candle can be seen to have retracted off the $0.3000 resistance level. Nevertheless, price action stays far above all the Moving Average (MA) lines. Also, the Stochastic Relative Strength Index (RSI) lines are still rising into the overbought region.
Dogecoin (DOGE) Price Prediction: DOGE/USDT Bullish Sentiment Stays Strong
Going by indications in the general crypto market, the bull market has officially begun. This has led to massive price increases, not only in the Dogecoin market but across the general market. The ongoing session has revealed that price action has tested a new technical resistance at the $0.3000 price level. The attempt to break through this price region failed as the market retraced from that price mark. Yet, trading continues high above the MA lines while the mentioned indicator lines continue to cross below price activity.
The Stochastic RSI lines are now in the overbought region and continue to rise into that region. This correlates with the appearance of the last price candle on the chart as it stays green. Therefore, it does appear that upside forces will continue to drive the market.
Dogecoin (DOGE) Price Prediction: DOGE/USDT Stays in Control (4-Hour Chart)
The Dogecoin 4-hour chart has revealed that speculation concerning upside forces pushing the market further is correct. A new session has begun in the market, and a green market has appeared. This maintains the impression that upside forces are still in control. However, the small appearance of the mentioned price candle reflects that the bullish momentum has reduced considerably.
Nevertheless, trading continues above all MA lines, while the Stochastic RSI lines are still dragging sideways at the 100 mark of the indicator. Therefore, it appears bearish activity is consistent from the daily market to the 4-hour market. This adds up to suggest that the $0.3000 resistance may be broken soon, and the market may proceed higher.
