Dogecoin Price Analysis: DOGE Looks To Push Past $0.23

Daily Dogecoin Price Forecast

Last Updated November 26th 2021
3 Min Read
  • The Dogecoin price has made a strong recovery during the current session and is currently up by over 3%. 
  • DOGE has been bearish since the weekend and had dropped to $0.21 on Monday. 

The Dogecoin price is currently back up to $0.22, as buyers look to push the price past $0.23. DOGE has been in the red since Sunday when the price had dropped to $0.22. Monday saw the price drop further, as it slipped by almost 3%, before rising by over 3% on Tuesday. Wednesday saw DOGE drop by almost 4%, dropping to $0.21 before it recovered during the ongoing session. 

Dogecoin Price Chart Indicates DOGE Looking To Push Past $0.23. 

The Dogecoin price chart had started the previous week in the red, as the price dropped by over 2% on Monday. Tuesday saw DOGE register a significant drop, as the price fell below the 50-day SMA after falling by almost 8%. After pushing up marginally on Wednesday, the price fell back in the red on Thursday, falling by almost 7% and settling at $0.22. However, DOGE recovered on Friday, pushing up by 5.53% and settling at $0.23.

Image: DOGE/USD daily chart 112621

Image: DOGE/USD daily

After rising by 5.53% on Friday, the Dogecoin price pushed up marginally on Saturday before falling back on Sunday and settling at $0.22. Monday saw DOGE remain bearish, falling by 2.77%, before recovering on Tuesday and rising by 3.04%. On Wednesday, the price was back in the red, dropping by almost 4% and settling at $0.21, before recovering during the current session, currently up by over 3%.

We can see that the Parabolic SAR is currently bearish; however, if DOGE continues to push up, we could see it flip to bullish.

Looking at IntoTheBlock’s IOMAP for the Dogecoin price, we can see that DOGE faces strong resistance at around $0.25. At this price level, over 116,000 addresses have sold more than 6.9 billion DOGE. DOGE also has support at around $0.22. At this price level, over 55,000 addresses have bought more than 4.8 billion DOGE.

Image: DOGE/USD volume chart 112621

Image: IntoTheBlock

Looking at the 4-hour Dogecoin price chart, we can see that DOGE had dropped to $0.21 on the 19th. The price pushed up significantly from this level, pushing up to $0.23, and pushing above the 20-bar SMA. With the 20-bar SMA now acting as support, the price could stay at this level for the next few sessions before slipping below it on the 22nd and dropping to $0.22. DOGE could not push above this level until the 23rd when the price pushed above the 20-bar SMA; however, the price fell back, dropping to $0.21, before rising to its current level of $0.22.

We can see that the MACD is currently bearish, indicating that the price could push higher during the current session.

Image: DOGE/USD 4-hour chart 112621

Image: DOGE/USD 4-hour

DOGE Price Is Expected To Reach These Levels

Looking at the Dogecoin price chart, we can see that DOGE has made a fairly strong recovery during the current session. If the current bullish sentiment persists, we could see the price push past $0.23.