Dogecoin Price Prediction: Dogecoin Looks To Recover After Dropping Below $0.130

Daily Dogecoin DOGE Technical Analysis

Last Updated February 23rd 2022
3 Min Read
  • The Dogecoin price is marginally up as it looks to move back above $0.130. 
  • DOGE has been extremely bearish during recent sessions and had dropped to $0.128 on Monday. 

The Dogecoin price pushed up marginally during the ongoing session as buyers and sellers struggled to control the market. DOGE had started the weekend on a fairly positive note, rising by 2.02%. However, the price fell back on Sunday, dropping by 3.54%, ending the weekend at $0.136. DOGE continued to drop on Monday, falling by almost 6%, before registering a marginal recovery during the ongoing session. 

Dogecoin Price Chart Indicates DOGE Could Push Back Above $0.130 

The Dogecoin price started the previous weekend in the red, registering a marginal drop on Saturday, before pushing above the 20-day SMA on Sunday, ending the weekend at $0.148. Monday saw DOGE back in the red, as it slipped back below the 20-day SMA, before making a strong recovery on Tuesday, rising by over 4%, pushing back above the 20-day SMA, and settling at $0.152. DOGE was back in the red on Wednesday, dropping to $0.148 and then dropping by almost 7% on Thursday, going below the 20-day SMA and settling at $0.138.

Image: DOGE/USD daily

Image: DOGE/USD 4daily chart 022322

The Dogecoin price stayed at $0.138 on Friday before registering a fairly significant increase on Saturday, rising by 2.02% and moving to $0.141. However, the price was back in the red on Sunday, falling by 3.54% and ending the weekend at $0.136. Monday saw the bearish sentiment intensify, as DOGE dropped by almost 6% to $0.128 before registering a marginal recovery during the ongoing session.

We can see that the MACD is currently bearish, but if DOGE can push beyond $0.130, we could see it flip to bullish.

Looking at IntoTheBlock’s IOMAP for the Dogecoin price, we can see that DOGE faces strong resistance at around $0.142. At this price level, over 89,000 addresses have sold more than 12.5 billion DOGE.

Check Out: Will Dogecoin Make Me Rich?

Image: IntoTheBlock

Image: DOGE/USD volume chart 022322

The 4-hour Dogecoin price chart shows us that DOGE had dropped below the 20-bar SMA on the 17th, falling to $0.147. DOGE continued to drop from this level, dropping to $0.138 and then rising to $0.141. DOGE registered a marginal drop before pushing up to 40.143 on the 19th. At this level, the 20-bar SMA was acting as resistance, and the price fell back, dropping to $0.137. DOGE made a fairly strong recovery from this level, pushing above the 20-bar SMA and rising to $0.140 on the 21st. However, the price fell back, moving back below the 20-bar SMA and falling to $0.125 and then moving to its current level of $0.129.

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

Image: DOGE/USD 4-hour

Image: DOGE/USD 4-hour chart 022322

DOGE Price Is Expected To Reach These Levels

Looking at the Dogecoin price chart, we see that DOGE has been extremely bearish over the past couple of sessions but has recovered during the ongoing session. If the current sentiment persists, we could see DOGE push above $0.130.

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