Dogecoin Price Prediction: DOGE Back In The Red, Struggling To Push Above $0.130

Daily Dogecoin DOGE Technical Analysis

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Last Updated February 28th 2022
2 Min Read
  • The Dogecoin price is down by over 1% during the ongoing session, as sellers pushed the price down. 
  • DOGE has been quite bearish in recent sessions and had dropped to $0.124 on the 24th. 

The Dogecoin price is back in the red during the current session, as sellers forced DOGE down after a marginal recovery on Saturday. DOGE had dropped by nearly 3% on Wednesday, falling to $0.125. The price continued to drop on Thursday, as DOGE dropped to $0.124 after a highly volatile session before recovering on Friday, rising by nearly 3% and moving to $0.127. DOGE remained at $0.127 on Saturday before dropping back during the current session. 

Dogecoin Price Chart Indicates DOGE Could Push Above $0.130 

The Dogecoin price started the previous weekend on a fairly positive note, registering a marginal increase on Friday and then pushing up by just over 2% on Saturday, settling at $0.141. However, DOGE fell back on Sunday, dropping by nearly 4% and ending the weekend at $0.136. Monday saw the bearish sentiment continue, as the price dropped by nearly 6% on Monday, falling to $0.128 before making a strong recovery on Tuesday, rising by 2.42% and moving to $0.131.

Image: DOGE/USD daily

DOGE/USD daily chart 022822

The Dogecoin price fell back in the red on Wednesday, falling by nearly 3% and settling at $0.127 after slipping below the $0.130 level. DOGE continued to drop on Thursday, falling by 2.43% after a highly volatile session and falling to $0.124. DOGE recovered on Friday, pushing up by 2.57% and moving to $0.127. The weekend saw DOGE remain at this level on Saturday before dropping back during the ongoing session.

We can see that the MACD is currently bearish, indicating that we could see the price drop further. However, if DOGE recovers, we could see it flip to bullish.

Looking at IntoTheBlock’s IOMAP for the Dogecoin price, we can see that DOGE has strong support at around $0.124. At this price level, over 11,000 addresses have bought more than 7.9 billion DOGE.

Image: IntoTheBlock

DOGE/USD volume chart 022822

More On Dogecoin: Dogecoin (DOGE) Price Prediction

The 4-hour Dogecoin price chart shows us that DOGE had dropped significantly on the 22nd, falling to $0.125. The price recovered from this level, pushing up to $0.134, where the 20-bar SMA acted as resistance. As a result, DOGE fell back significantly, falling to $0.111 on the 24th. DOGE made a strong recovery from this level, pushing up to $0.124, and stayed at this level for the subsequent few sessions before pushing above the 20-bar SMA, moving to $0.129 on the 26th. The price fell back marginally from this level, dropping to $0.125 before moving to its current level of $0.126.

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

Image: DOGE/USD 4-hour

DOGE/USD 4-hour chart 022822

DOGE Price Is Expected To Reach These Levels

The Dogecoin price chart shows us that DOGE is marginally down during the ongoing session after recovering from an intraday low of $0.123 to move to $0.126. If the current sentiment persists, we could see the price push towards $0.130.

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