Dogecoin Price Analysis: DOGE Pushes To $0.15 After Strong Recovery

Daily Dogecoin Price Prediction

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Last Updated January 12th 2022
3 Min Read
  • The Dogecoin price is currently up by nearly 6% as buyers return to the market. 
  • DOGE has been extremely bearish in recent sessions and had dropped by nearly 5% on Monday. 

The Dogecoin price has made a strong recovery during the current session, as DOGE pushed to $0.15. DOGE had dropped by 3.31% on Friday, falling to $0.15. Over the weekend, the price remained in the red, dropping by 2.65% on Saturday and then by 0.40% on Sunday to end the weekend on a bearish note. DOGE continued to drop on Monday, starting the week on a bearish note, and dropping by nearly 5% and settling at $0.14 before recovering during the current session. 

Dogecoin Price Chart Indicates DOGE Could Push To $0.16

The Dogecoin price had started the previous week in the red, dropping by 2.63% on Monday and settling at $0.17. The price continued to drop from this level, as DOGE registered a marginal drop on Tuesday. Wednesday saw DOGE register a significant drop, as the price fell by nearly 6%, settling at $0.15. Despite the bearish sentiment, DOGE was able to register a marginal increase on Thursday, rising by 0.88%.

Image: DOGE/USD daily

Image: DOGE/USD daily chart 011222

After Thursday’s marginal increase, the Dogecoin price fell back on Friday, dropping by 3.31%. The weekend saw DOGE remain in the red, as the price fell by 2.65% on Saturday and then by 0.40% on Sunday to end the weekend on a bearish note. Monday saw DOGE slip below $0.15, as DOGE fell by nearly 5% to $0.14 before recovering during the current session.

We can see that the MACD is currently bearish, but if the price continues to push higher, 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 $0.16. At this price level, over 67,000 addresses have sold more than 4.8 billion DOGE.

Image: IntoTheBlock

Image: DOGE/USD volume chart 011222

Looking at the 4-hour Dogecoin price chart, we can see that DOGE had dropped to $0.147 on the 7th. The price recovered from this level, rising to $0.151 and then pushing up to $0.153 on the 9th. However, the 20-bar SMA was acting as resistance at this level, and DOGE fell back from this level, falling to $0.141 on the 10th. DOGE made an extremely strong recovery from this level, rising above the 20 and 50-bar SMAs and settling at $0.160. However, DOGE could not stay at this level, and the price slipped back below the 50-bar SMA, dropping to its current level of $0.151.

We can see that the Parabolic SAR and MACD are both bullish, indicating that we could see the price push higher.

Image: DOGE/USD 4-hour

Image: DOGE/USD 4-hour chart 011222

DOGE Price Is Expected To Reach These Levels

Looking at the Dogecoin price chart, we can see that DOGE has registered a strong recovery during the current session. If the current sentiment persists, we could see DOGE push above $0.15.