Dogecoin Price Prediction: DOGE Registers Marginal Drop, Could Drop Below $0.17

Daily Dogecoin price Prediction

Last Updated January 3rd 2022
3 Min Read
  • The Dogecoin price has not registered any significant movement for the previous few sessions. 
  • DOGE had been quite bearish, registering a drop of 7.50% on Tuesday. 

The Dogecoin price was back in the red during the ongoing session, as sellers look to push DOGE below $0.17. DOGE had fallen to $0.16 on Wednesday before recovering and rising to $0.17 on Thursday. Friday saw DOGE register a marginal drop before rising by 1.64% on Saturday, starting the weekend on a positive note. However, the current session sees DOGE back in the red, with sellers looking to establish control. 

Dogecoin Price Chart Indicates Buyers And Sellers Struggling To Establish Control 

The Dogecoin price had started the previous weekend on a fairly positive note, registering a marginal increase on Friday. On Saturday, the price continued to push higher, rising by over 2% and settling at $0.19, before falling back into the red on Sunday, ending the weekend at $0.18. DOGE started the week on a bearish note, registering a marginal drop on Monday before dropping by over 7%, slipping below the 20-day SMA and settling at $0.17. The price continued to drop on Wednesday, falling by over 3% and slipping to $0.16.

Image: DOGE/USD daily

Image: DOGE/USD daily chart 010322

After dropping to $0.16 on Wednesday, the Dogecoin price recovered on Thursday, rising by nearly 2% and settling at $0.17. Friday saw DOGE register a marginal drop before recovering on Saturday and registering an increase of 1.64% to start the weekend on a positive note. However, the price fell back during the ongoing session as sellers looked to push DOGE back below $0.17.

We can see that the Parabolic SAR is currently bullish, but if the price continues to drop, we could see it flip to bearish.

Looking at IntoTheBlock’s IOMAP for the Dogecoin price, we can see that DOGE faces strong resistance at around $0.18. At this price level, over 28,000 addresses have sold more than 7 billion DOGE. DOGE also has strong support at around $0.17. At this level, over 100,000 addresses have sold over 5 billion DOGE.

Image: IntoTheBlock

Image: DOGE/USD volume chart 010322

The 4-hour Dogecoin price chart shows us that DOGE had dropped to $0.18 on the 28th, slipping below the 200-bar SMA. The price continued to drop from this level, falling below the 50-bar SMA and settling at $0.16 on the 30th. The price pushed up from this level, rising to $0.17, before registering a marginal drop. DOGE could not move past $0.17, thanks to the 20-bar SMA acting as resistance, and fell to $0.16 on the 31st. The price recovered from this level, rising above the 20-bar SMA and settling at $0.17, which is where the price is still at.

We can see that the MACD is currently bullish, indicating that we could see the price push higher.

Image: DOGE/USD 4-hour

Image: DOGE/USD 4-hour chart 010322

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 of the session. Currently, DOGE is marginally up, and if buyers retain the session, we could see the price move past the 20-day SMA. However, if sellers retake the session, DOGE could drop below $0.17.