Before jumping to the Dogecoin price prediction you should take a look at the fundamentals.
Dogecoin Price History
To better predict the future value of any crypto, we must understand the past. The Dogecoin price history can show you what levels the price has passed through in the past and how far it is likely to go in the future. The analysis includes support, resistance, no trading zones and much more information which aids in making predictions about dogecoin prices.
- Trend: Sideways
- Support: $0.0566 - $0.0507
- Resistance: $0.0902
- Relative Strength : 50
As you can see in above chart dogecoin is going through the sideways trend after hitting hard and fall more then 90% from their all time high price $0.6848 in the last 18th months.
Now from $0.07206 to $0.05623 is a no trading zone which mean there no clear movement, so to avoid losses you need to avoid this zone.
Above this No Trading Zone we can capture up to 20% to 25% movement after the dogecoin price will cross the $0.07206 level and the next target would be near $0.0900 which is also a resistance level.
Long Term View On Dogecoin Weekly Chart
As you can see in the previous curve zone where after crossing the $0.0050 price level dogecoin just boomed and hit more then 100x value in just 6 months. And now we can this Dogecoin U-turn curve again on weekly chart and the price is trading at the lowest level of this curve.
But still it has very little strength in it making it a tough market to trade. The trend line on the weekly charts has been broken and we are looking for some further weakness before that trend line can be rebounded. There is nothing saying it will rebound yet but if the price does break past the $0.050 level then I would expect it to bounce back up and retest the all time high.
But before taking any trades we have to understand that it also have some conditions like it has to break resistance zone ($0.090) and 20 EMA and most important the whole Crypto Market need to be positive or uptrend.
It is getting increasingly difficult for Dogecoin to break the $0.050 support level. At this point, even though we are still below the previous high of $0.052, the support should hold and we might be able to revisit the $0.05 price mark in the near distant future.
However, if the downtrend continues and the price breaks the $0.050 level then it is a great short trade and it would hit the $0.011 price mark.
Dogecoin Trend Index
As you can see the technical analysis shows that dogecoin has to sell single at the long-term view. The weekly chart shows that dogecoin is in a downward trend. This would mean that it's possible that dogecoin could drop even more. On the other hand, the strength of its last price move was slightly higher than its previous movement so this could suggest a rally off this support level for now.
The trend is also negative in Google Trends. Dogecoin is most popular cryptos in 2021 but right now dogecoin doesn't have enough search volume on google trends. This means that majority of crypto investors, traders, and Decentralized Apps users are not currently interested in this meme coin, or may be they are waiting for the right time.
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The information provided in this article is not financial or investing advice. The author does not make any warranties about this information's completeness, reliability, and accuracy. The cryptocurrency market is volatile, and it can be difficult to predict which coins will rise and fall in value over time. Any investor should research multiple viewpoints before committing to an investment.