Dogecoin Technical Analysis: DOGE Continues To Increase, Looks To Push To $0.18

Daily Dogecoin Price Analysis

By
Last Updated December 23rd 2021
3 Min Read
  • The Dogecoin price is currently up by over 2%, as buyers look to push it above $0.17 
  • DOGE has been fairly positive over the past couple of sessions and had risen by almost 2% on Tuesday. 

The Dogecoin price continued to push up during the current session, as buyers pushed DOGE up by over 2% during the current session. DOGE had a mixed weekend, with the price rising by over 2% on Saturday and then dropping by 1.74% on Sunday to settle at $0.16. The price continued to drop on Monday, registering a drop of 0.95%, before pushing up by 1.91% on Tuesday and settling at $0.17. 

Dogecoin Price Chart Indicates DOGE Could Push To $0,18

The Dogecoin price was quite bearish at the start of the previous week, rising by over 7% and settling at $0.15. The price made a significant recovery on Tuesday, surging by over 21% on the back of the Tesla announcement. However, the price fell back on Wednesday, dropping by over 5% and settling at $0.18. DOGE continued to drop during the rest of the week, falling by 4.37% on Thursday and then by 2.49% on Friday to settle at $0.16.

Image: DOGE/USD daily

Image: DOGE/USD daily chart 122321

The Dogecoin price recovered on Saturday, rising by 2.02% and settling at $0.17. However, Sunday saw the price back in the red, dropping by 1.74% and settling at $0.16. DOGE continued to drop on Monday, falling by 0.95%, before recovering on Tuesday and rising to $0.17. The current session sees DOGE up by over 2%, with buyers looking to push the price to $0.18.

We can see that the Parabolic SAR is still bullish, indicating that we could see the price push further.

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 31,000 addresses have sold more than 6.9 billion DOGE.

Image: IntoTheBlock

Image: DOGE/USD volume chart 122321

The 4-hour Dogecoin price chart shows us that DOGE had dropped to $0.16 on the 18th. The price pushed up from this level, rising to $0.17, where the 50-bar SMA was acting as resistance. DOGE managed to stay at this level for the subsequent few sessions before dropping back to $0.16. From this level, DOGE pushed back to $0.17, pushing above the 20 and 50-bar SMAS to move to its current level of $0.17.

We can see that the Parabolic SAR and MACD are both bullish, indicating that the price could push higher during the current session.

Image: DOGE/USD 4-hour

Image: DOGE/USD 4-hour chart 122321

DOGE Price Is Expected To Reach These Levels

Looking at the Dogecoin price chart, we can see that DOGE has been fairly bullish over the past couple of sessions. If the current sentiment persists, we could see DOGE push to $0.18.