HomeUncategorizedDogecoin Price Prediction and Technical Analysis: DOGE/USDT Continues the Uptrend

Dogecoin Price Prediction and Technical Analysis: DOGE/USDT Continues the Uptrend

The current cryptocurrency industry momentum remains rather uncertain. Most markets try to consolidate, whereas the dogecoin price is moving up rapidly.  Sustaining this level of growth will pose its own set of challenges. 

Dogecoin Price Holds its own

In the past week, the value of DOGE has undergone an interesting transformation. From its low of $0.001986 earlier today, it appears that the market has rebounded. Holding on to the $0.002 level is crucial under the current market circumstances.

This path month hasn’t been kind to the dogecoin price. Over the past 30 days, the DOGE value lost over 11%.. A very surprising move, considering how dogecoin is usually one of the more stable altcoins.

All of this is happening despite decent trading volume. Dogecoin has never had any real issues in this particular department. Even today, it notes roughly 8% of its total market cap in trades. That should be sufficient to keep the $0.002 level intact.

The places to trade DOGE are MXC, P2PB2B, and Sistemkoin. Of those three pairs, the DOGE/USDT offering generates most of the trading volume. All DOGE/BTC pairs are less popular these days, which is not a common trend. 

Technical Indicators

Dogecoin Price 0301

Bollinger Bands: The Bollinger Bands for DOGE/USDT have recently yielded a big uptrend. It is normal for the market to enter a slightly bearish mode following that.

During this period, it is not unlikely to see the Bollinger Bands tighten. Following that momentum, the dogecoin price can easily swing in either direction. Sustaining the current 0.9% gain will be the first order of business. 

Moving Average: The DOGE/USDT moving average lines do not offer much help. With none of the liens crossing at this time, the market can continue to head in any direction. It does appear that a brief bullish trend could be forming.

At this time, the MA 20 is on its way to cross above the MA50 line again. There is still a gap to overcome, which could take anywhere from a few hours to several days.

MACD; For the dogecoin Price, the current MACD situation is interesting. After going through an “oversold stage”, the market is currently in the green again. Some extra buying pressure will be needed to confirm this current MACD trend, however. A new strong push can materialize rather easily.

JP Buntinx
JP Buntinx
JP Buntinx is passionate about cryptocurrencies, fintech, blockchain, and finance. He currently resides in Belgium.


Please enter your comment!
Please enter your name here

Press Releases

WP Twitter Auto Publish Powered By : XYZScripts.com