Dogecoin Price Prediction: DOGE Registers Significant Increase After Dropping Below $0.150

Daily Dogecoin DOGE Technical Analysis

Last Updated February 14th 2022
3 Min Read
  • The Dogecoin price fell back considerably during recent sessions and had dropped below $0.150 on Friday. 
  • The current session sees DOGE make a strong recovery, with the price currently up by over 4%. 

The Dogecoin price has made a strong recovery during the ongoing session, as buyers look to push the higher, although sellers have managed to force the price down. DOGE had registered a significant drop on Thursday, falling by over 4% and falling to $0.152. Friday saw DOGE continue to drop, as DOGE fell by 3.93% and dropped to $0.146, before registering another marginal drop over the weekend, falling by 0.55% before recovering during the ongoing session.

Dogecoin Price Chart Indicates DOGE Looking To Push To $0.155 

The Dogecoin price started the previous weekend on a fairly bullish note, rising by almost 7% on Friday and pushing above the 20-day SMA. DOGE registered a marginal drop on Saturday before registering a strong recovery on Sunday to end the weekend at $0.154. Monday saw DOGE remain bullish, as the price surged by over 7%, pushing above the 50-day SMA and rising to $0.165. DOGE fell back significantly on Tuesday, falling back below the 50-day SMA and dropping to $0.158.

Image: DOGE/USD daily

Image: DOGE/USD daily chart 021422

The Dogecoin price registered a marginal increase on Wednesday but was unable to push past the 50-day SMA and fell back on Thursday, dropping by over 4% and falling to $0.152. DOGE continued to drop on Friday, falling by 3.93% and dropping to $0.146, where the 20-day SMA was acting as support. DOGE slipped below the 20-day SMA on Saturday after registering a marginal drop before recovering during the current session.

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

IntoTheBlock’s IOMAP for the Dogecoin price shows us that DOGE faces strong resistance at around $0.162. At this price level, over 55,000 addresses have sold more than 9.5 billion DOGE.

Image: IntoTheBlock

Image: DOGE/USD volume chart 021422

The 4-hour Dogecoin price chart shows us that DOGE had pushed up to $0.159 on the 7th. The price continued to push higher from this level, rising to $0.167. The price fell back from this level, dropping significantly and falling to $0.155 on the 8th, where the 20-bar SMA was acting as resistance. As a result, the price pushed up significantly, rising to $0.159. DOGE fell back considerably from this level, falling below the 20-bar SMA and falling to $0.152 on the 11th. The 200-bar SMA acted as support at this level, and DOGE could stay at this level for the subsequent few sessions before slipping below the 200 and 50-bar SMAs and dropping to $0.144. DOGE made a strong recovery from this level, pushing above all three SMAs, rising to $0.155, before dropping to its current level of $0.153.

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

Image: DOGE/USD 4-hour chart 021422

DOGE Price Is Expected To Reach These Levels

Looking at the Dogecoin price chart, we can see that DOGE has made a fairly strong recovery during the current session. If the current sentiment persists, we could see DOGE push back above $0.155.