Dogecoin Price Prediction: DOGE Slips To $0.16 After Bearish Weekend

Daily Dogecoin Techical Analysis

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Last Updated December 21st 2021
3 Min Read
  • The Dogecoin price has fallen back into the red during the ongoing session. 
  • DOGE had been quite bearish over the past week and had dropped to $0.17 on Thursday. 

The Dogecoin price continued to drop as sellers looked to push the price below $0.16, with DOGE currently down by almost 3%. DOGE had dropped by 2.60% on Friday, as it entered the weekend on a reasonably bearish note. However, the price did see a recovery on Saturday as DOGE pushed up to $0.17. However, the price fell back on Sunday, dropping by 1.74%m before a further drop during the ongoing session took the price to $0.16. 

Dogecoin Price Chart Indicates DOGE Could Drop Below $0.16

The Dogecoin price started the previous weekend on a fairly positive note, registering an increase of almost 3% on Saturday and then rising by 0.35% on Sunday. The price fell back on Monday, as it fell by over 7% and settled at $0.15. However, the price registered a significant jump on Tuesday, rising by over 21% and settling at $0.19. However, after reaching this level, the price fell back, dropping by over 5$ on Wednesday and settling at $0.18.

Image: DOGE/USD daily

Image: DOGE/USD daily chart 122121

The Dogecoin price continued to drop on Thursday, falling by over 4% and settling at $0.17. Friday saw DOGE continue to drop, with the price registering a fall of 2.60% and dropping to $0.16. DOGE pushed up on Saturday despite the bearish sentiment, rising by just over 2% and moving to $0.17. However, the price was back in the red on Sunday, dropping by 1.74% and then falling further by almost 3% during the ongoing session.

While the Parabolic SAR and MACD are both currently bullish, if the price continues to drop, we could see them 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 21,000 addresses have sold more than 6.4 billion DOGE.

Image: IntoTheBlock

Image: DOGE/USD volume chart 122121

The 4-hour Dogecoin price chart shows us that DOGE had surged by over 32% on the 14th, rising to $0.21, pushing above the 20 and 50-bar SMAs. However, the price fell back from this level, falling to $0.17 on the 15th. DOGE pushed up marginally from this level, rising to $0.18, before slipping back below the 20 and 50-bar SMAs and settling at $0.16. The price pushed up from this level, rising to $0.17, but could not push past the 50-bar SMA and fell back to its current level of $0.16. We can see that the Parabolic SAR and MACD are both bearish, indicating that the price could drop further.

Image: DOGE/USD 4-hour

Image: DOGE/USD 4-hour chart 122121

DOGE Price Is Expected To Reach These Levels

Looking at the Dogecoin price chart, we can see that DOGE has fallen significantly during the current session. If the current sentiment persists, we could see DOGE slip below $0.16.