Dogecoin Next Target $0.40: Dogecoin Price Analysis

Dogecoin is gaining momentum and is in midst of a good rally from the lower levls.

In this article, we will discuss dogecoin price analysis along with weekly analysis and news roundup.

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Dogecoin Price Analysis

• Price: $0.126
• Market Cap: $18.29 billion
• 24h Trading Volume: $1.09 billion
• Circulating Supply: 145.18 billion DOGE

 Falling Wedge Usually results in a bullish breakout. When price breaks the upper trend line the price is expected to trend higher.

Emerging patterns (before a breakout occurs) can be traded by swing traders between the convergence lines; however, most traders should wait for a completed pattern with a breakout and then place a BUY order. 

Weekly Price Analysis

• Weekly Low: $0.119
• Weekly High: $0.128
• Weekly Change: +3.21%
• Trend: Short-term trend is Neutral, Medium-term trend is Strong Down and Long-term trend is Strong Down.
• Momentum is Bullish ( MACD Line crossed above MACD Signal Line) ABOVE days ago. Price is neither overbought nor oversold currently, based on RSI-14 levels (RSI > 30 and RSI
• Support and Resistance: Nearest Support Zone is $0.10, then $0.075. Nearest Resistance Zone is $0.126, then $0.17.

News Roundup

• Dogecoin Whale Purchases: A significant Dogecoin whale purchased 90 million DOGE, indicating strong confidence in the coin’s long-term potential.
• Market Sentiment: Mixed with a slight positive trend. The Fear and Greed Index is at 48, indicating a neutral sentiment.

Indicators

• RSI (Relative Strength Index): 52 (neutral)
• MACD (Moving Average Convergence Divergence): Signal line slightly above the MACD line, indicating potential bullish momentum.
• Bollinger Bands: Price is near the upper band, suggesting possible overbought conditions.

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