Dogecoin Price Prediction: DOGE Surges, Looks To Push To $0.170

Daily Dogecoin Technical Analysis

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Last Updated January 14th 2022
3 Min Read
  • The Dogecoin price is up by nearly 4% during the ongoing session. 
  • DOGE has been highly bullish during the current week and had risen by almost 8% on Tuesday. 

The Dogecoin price surged during the ongoing session, as buyers pushed DOGE above the 20-day SMA to $0.168. DOGE had started the week in the red, as it registered a fall of nearly 5% on Monday. The price recovered on Tuesday, rising by 7.55% and settling at $0.153. The bullish sentiment persisted on Wednesday, as DOGE rose by nearly 6% and moved to $0.163 before moving past the 20-day SMA during the current session and moving to $0.168. 

Dogecoin Price Chart Indicates DOGE Could Surge Past $0.170 

The Dogecoin price was quite bearish during the previous week and had dropped by 2.63% on Monday, dropping to $0.170. The price continued to fall on Tuesday, dropping marginally, before falling by nearly 6% on Wednesday and settling at $0.159. Despite the bearish sentiment, DOGE was able to register a marginal recovery on Thursday, rising by 0.88%. However, the price fell back in the red on Friday, as it dropped by 3.37% and settled at $0.155.

Image: DOGE/USD daily

Image: DOGE/USD daily chart 011422

The Dogecoin price continued to drop over the weekend, as it fell by 2.65% on Saturday and then registered a marginal drop on Sunday to end the weekend at $0.150. Monday saw the bearish sentiment persist, as the price fell by nearly 5% and settled at $0.143. However, after reaching this level, DOGE registered a strong recovery on Tuesday, rising by nearly 8% and moving to $0.153. On Wednesday, the price continued to push higher, pushing past $0.160 and settling at $0.163. The current session sees DOGE past the 20-day SMA with the price at $0.169.

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

Looking at IntoTheBlock’s IOMAP for the Dogecoin price, we can see that DOGE faces strong resistance at around $0.188. At this price level, over 38,000 addresses have sold more than 6.3 billion DOGE.

Image: IntoTheBlock

Image: DOGE/USD volume chart 011422

The 4-hour Dogecoin price chart shows us that DOGE had dropped to $0.147 on the 8th. The price pushed back up from this level, rising to $0.150 and then to $0.153 on the 9th. The 20-bar SMA was acting as resistance at this level, and the price fell back, dropping to $0.150 and then to $0.141. DOGE surged from this level, surging past the 20 and 50-bar SMAs and moving to $0.160. However, the price could not stay at this level and fell back, dropping below the 50-bar SMA and settling at $0.150, where the 20-bar SMA acted as support. As a result, DOGE made a strong recovery, rising to $0.155 and then pushing back above the 50-bar SMA and the 200-bar SMA to $0.171. DOGE registered a marginal drop from this level, falling to its current level of $0.170.

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 011422

DOGE Price Is Expected To Reach These Levels

Looking at the Dogecoin price chart, we can see that DOGE has been extremely bullish during the current week. If the current sentiment persists, we could see DOGE push on to $0.175.