- The Dogecoin price is only marginally down during the ongoing session, as it looks to make a recovery.
- DOGE has been extremely bearish in recent sessions and had registered a drop of over 8% on Friday.
The Dogecoin price managed to remain above $0.13 during the ongoing session, as buyers look to push the price back up. DOGE had registered a drop of over 8% on Friday, dropping to $0.142, and then continued to drop over the weekend, falling over 6% on Friday and dropping to $0.133. However, the price recovered on Sunday, rising to $0.142, before dropping back in the red on Monday and settling at $0.137.
Dogecoin Price Chart Indicates DOGE Could Push Above $0.13
The Dogecoin price started the previous weekend on a fairly bearish note, dropping over 6% on Saturday and then by 4.23% on Sunday to end the weekend on a bearish note at $0.176. The weekend set the tone for the rest of the week, as DOGE continued to drop on Monday, falling by 3.40% and slipping below the 50-day SMA. The price continued to drop on Tuesday, this time slipping below the 20-day SMA and settling at $0.164.The bearish sentiment persisted on Wednesday, as DOGE dropped to $0.161 after falling by nearly 2%.
Image: DOGE/USD daily
The Dogecoin price continued its bearish run on Thursday, falling by 4.20% to $0.155, before registering a significant drop on Friday, falling over 8% and dropping to $0.142. The weekend started with the bearish sentiment persisting on Saturday, as it dropped over 6% and settled at $0.133. Despite the bearish sentiment, DOGE was able to register a recovery on Sunday, rising by nearly 7% and settling at $0.142. However, the price fell back in the red on Monday, falling by 3.31% and dropping to $0.137. The current session sees DOGE only marginally down at $0.136, as the price looks to recover.
We can see that the MACD is currently bearish, but if DOGE can recover from this level, it could flip to bullish.
Looking at IntoTheBlock’s IOMAP for the Dogecoin price, we can see that DOGE faces strong resistance at around $0.138. At this price level, over 14,000 addresses have sold more than 6 billion DOGE. DOGE also has strong support at $0.133, where over 29,000 addresses have bought more than 5.8 billion DOGE.
Looking at the 4-hour Dogecoin price chart, we can see that DOGE had dropped to $0.160 on the 19th. The price pushed back up from this level, rising above the 20-bar SMA and moving to $0.168 on the 20th. However, DOGE could not stay at this level and fell back below the 20-bar SMA, falling to $0.150. DOGE continued to drop from this level, falling to $0.126 on the 22nd, before recovering and rising to $0.140. The price fell back from this level, dropping to $0.135, before moving to $0.142. However, the 20-bar SMA acted as resistance at this level, and DOGE dropped to $0.129 before recovering, pushing above the 20-bar SMA and moving to its current level of $0.134.
We can see that the MACD is currently bullish, indicating that the price could push higher.
Image: DOGE/USD 4-hour
DOGE Price Is Expected To Reach These Levels
Looking at the Dogecoin price chart, we see that DOGE is currently down by over 2% during the ongoing session. If sellers retain control, we could see the price drop to $0.132, but if buyers retain control, then the price could push above $0.135.