Dogecoin Price Analysis: DOGE Registers Marginal Drop, Slips To $0.14 

Daily Dogecoin Doge Price Prediction

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Last Updated January 28th 2022
3 Min Read
  • The Dogecoin price fell back during the ongoing session and is currently down by nearly 0.50%. 
  • DOGE had reversed the bearish sentiment during the ongoing week and had reached an intraday high of $0.153 on Wednesday. 

The Dogecoin price slipped to $0.14, as sellers pushed the price down marginally after it had pushed above $0.150 on Wednesday. DOGE had started the current week on a bearish note, registering a drop of 3.31% on Monday and falling to $0.137. However, the price made a recovery on Tuesday, rising by over 4% and moving to $0.143, and then registering a marginal increase on Wednesday, rising by 0.14%. The current session sees DOGE back in the red, with the price currently at $0.142. 

Dogecoin Price Chart Indicates Buyers And Sellers Looking To Establish Control 

The Dogecoin price started the previous week on a fairly bearish note, as it slipped below the 50-day SMA on Monday, dropping to $0.170. DOGE continued to drop on Tuesday, falling by 3.40% and slipping below the 20-day SMA to settle at $0.164. DOGE remained bearish on Wednesday and Thursday, dropping by 1.94% and 4.02%, respectively, to settle at $0.155 on Thursday. Friday saw DOGE register a significant drop, as the price fell by 8.51% and settled at $0.142.

Image: DOGE/USD daily

Image: DOGE/USD daily chart 012822

The Dogecoin price continued to drop on Saturday, registering a drop of over 6% and falling to $0.133. Despite the bearish sentiment, DOGE was able to register a significant recovery on Sunday, rising by nearly 7% and settling at $0.142. However, the price fell back on Monday by 3.31% and dropped to $0.137. DOGE was able to recover on Tuesday, rising by just over 4% and then pushing up marginally on Wednesday to settle at $0,143. The current session sees DOGE at $0.142, with buyers and sellers struggling to establish control.

We can see that the MACD is currently bearish, but if DOGE can recover from this level, we could see it flip to bullish.

IntoTheBlock’s IOMAP for the Dogecoin price shows us that DOGE faces strong resistance at around $0,146. At this price level, over 33,000 addresses have sold more than 7 billion DOGE.

Image: IntoTheBlock

Image: DOGE/USD volume chart 012822

Looking at the 4-hour Dogecoin price chart, we can see that DOGE had pushed above the 20-bar SMA on the 20th, rising to $0.168. However, ADA turned bearish after reaching this level and slipped below the 20-bar SMA, falling to $0.150. DOGE continued to drop from this level and fell to $0.126 on the 22nd. DOGE registered a strong recovery from this level, rising to $0.140 and then to $0.142 on the 24th. At this level, the 20-bar SMA was acting as resistance, and the price fell back, dropping to $0.129. DOGE made a strong recovery from this level, pushing above the 20-bar SMA and rising to $0.137, and then moving to $0.151 after pushing above the 50-bar SMA. The price fell back in the red after reaching this level and dropped to $0.140 before moving to its current level of $0.142.

We can see that the Parabolic SAR and MACD are still bullish, but if DOGE continues to drop, we could see them flip to bearish.

Image: DOGE/USD 4-hour

Image: DOGE/USD 4-hour chart 012822

DOGE Price Is Expected To Reach These Levels

Looking at the Dogecoin price chart, we can see that buyers and sellers are struggling to establish control during the ongoing session. If sellers manage to retain the session, we could see DOGE drop to $0.140. However, if the price manages to recover, we could see DOGE push to $0.145.