Dogecoin Price Prediction: DOGE Slips Below $0.150 As Sellers Control Session

Daily Dogecoin DOGE Technical Analysis

Last Updated February 17th 2022
3 Min Read
  • The Dogecoin price is currently down by almost 2%, as sellers look to push the DOGE lower. 
  • DOGE has been relatively bearish in recent sessions and had dropped to $0.146 on Friday. 

The Dogecoin price is back in the red during the ongoing session, as sellers pushed DOGE below $0.150. DOGE had ended the weekend on a slightly positive note, rising by 1.65% after a highly volatile session. DOGE fell back on Monday, falling by 1.35%, before recovering on Tuesday, pushing above the 20-day SMA and rising to $0.152, before dropping back during the ongoing session. 

Dogecoin Price chart Indicates DOGE Could Drop Below 20-Day SMA 

The Dogecoin price started the previous weekend on a fairly bearish note, registering a drop of 0.34% on Saturday and then registering an increase of almost 5% on Sunday, moving to $0.154. DOGE remained bullish on Monday, as it pushed above the 50-day SMA and moved to $0.165 before dropping back on Tuesday, dropping below the 50-day SMA to $0.158. DOGE was able to register a marginal recovery from this level but could not move past the 50-day SMA and fell back, dropping to $0.152 on Thursday, a fall of over 4%.

Image: DOGE/USD daily

Image: DOGE/USD daily chart 021722

The Dogecoin price continued to drop on Friday, falling by almost 4% and dropping to $0.146. The weekend saw DOGE register a marginal drop on Saturday as it fell below the 20-day SMA before recovering on Sunday and moving to $0.148. Monday saw DOGE back in the red, dropping by 1.35%, before recovering on Tuesday, pushing back above the 20-day SMA and moving to $0.152. The current session sees DOGE at $0.149, as sellers look to push the price lower.

We can see that the MACD is bullish, but if DOGE continues to drop, we could see it flip to bearish.

IntoTheBlock’s IOMAP for the Dogecoin price shows us that DOGE faces strong resistance at around $0.160. At this price level, over 63,000 addresses have sold more than 10.8 billion DOGE.

Image: IntoTheBlock

Image: DOGE/USD volume chart 021722

The 4-hour Dogecoin price chart shows us that DOGE had dropped to $0.157 on the 10th. The price continued to drop from this level, falling to $0.152 and then dropping below the 200 and 50-bar SMAs and falling to $0.146 on the 12th. DOGE continued to drop from this level, dropping to $0.144 before making a strong recovery, surging past all three SMAs and moving to $0.154 on the 13th. DOGE fell back considerably from this level, dropping back below all three SMAs and falling to $0.144. DOGE made a strong recovery from this level, pushing above the 20-bar SMA and rising to $0.152 before dropping to its current level of $0.149.

We can see that the Parabolic SAR is currently bearish, indicating that we could see the price drop further.

Image: DOGE/USD 4-hour

Image: DOGE/USD 4-hour chart 021722

DOGE Price Is Expected To Reach These Levels

Looking at the Dogecoin price chart, we can see that DOGE has registered a drop of almost 2% during the ongoing session and could fall further. If the current sentiment persists, we could see DOGE drop below the 20-day SMA. However, if DOGE can recover from this level, we could see it push back above $0.150.