Dogecoin Technical Analysis: DOGE Pushes To $0.14 After Posting Marginal Recovery

Daily Dogecoin DOGE Price Analysis

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Last Updated January 26th 2022
3 Min Read
  • The Dogecoin price is currently up by nearly 2%, as buyers look to push DOGE to $0.15. 
  • DOGE has been extremely bearish in recent sessions and had dropped by 8.51% on Friday. 

The Dogecoin price pushed above $0.140 during the current session, as buyers returned to the market and looked to push the price back up. DOGE had started the weekend on a bearish note, dropping over 6% and falling to $0.133. The price recovered on Sunday, rising by nearly 7% and ending the weekend at $0.142. However, DOGE was back in the red on Monday, falling by 3.31% and settling at $0.137 before recovering during the ongoing session. 

Dogecoin Price Chart Indicates DOGE Could Push Towards $0.145 

The Dogecoin price started the previous weekend in the red, dropping over 7% on Saturday and then registering a drop of over 4% on Sunday to end the weekend at $0.176. DOGE remained bearish on Monday, as it slipped below the 50-day SMA and settled at $0.170. Tuesday saw DOGE drop below the 20-day SMA, falling to $0.164, and then dropping to $0.161 on Wednesday, after registering a drop of nearly 2%. DOGE continued to drop on Thursday, falling over 4% and dropping to $0.155.

Image: DOGE/USD daily

Image: DOGE/USD daily chart 012622

After dropping to $0.155 on Thursday, the Dogecoin price continued to drop on Friday, falling by 8.51% and settling at $0.142. DOGE remained in the red over the weekend, as the price dropped by just over 6% to $0.133 on Saturday. Despite the bearish sentiment, DOGE registered a strong recovery on Sunday, rising by nearly 7% to $0.142 before dropping back on Monday and falling to $0.137. The current session sees DOGE at $0.140 after registering a marginal increase.

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

Looking at IntoTheBlock’s IOMAP for the Dogecoin price, we can see that DOGE has strong support at around $0.138. At this price level, over 14,000 addresses have bought more than 6 billion DOGE.

Image: IntoTheBlock

Image: DOGE/USD volume chart 012622

The 4-hour Dogecoin price chart shows us that DOGE had slipped to $0.160 on the 19th. The price pushed up from this level, pushing above the 20-bar SMA and moving to $0.168. However, DOGE fell back significantly after reaching this level, slipping back below the 20-bar SMA and dropping to $0.150 on the 21st. The price continued to drop from this level, falling to $0.126, before recovering and rising to $0.140 on the 23rd. DOGE then dropped to $0.135, before rising to $0.142 and then falling to $0.129 on the 24th. DOGE was able to make a strong recovery from this level, rising to $0.137 and then pushing above the 20-bar SMA and moving to its current level of $0.142.

We can see that the Parabolic SAR has flipped to bullish, and the MACD is also bullish, indicating that we could see the price push higher.

Image: DOGE/USD 4-hour

Image: DOGE/USD 4-hour chart 012622

DOGE Price Is Expected To Reach These Levels

Looking at the Dogecoin price chart, we can see that DOGE has made a fairly strong recovery during the ongoing session. If the current sentiment persists, we could see DOGE push towards $0.150.