Dogecoin Technical Analysis: DOGE Remains Bullish, Looks To Push Above $0.15

Daily Dogecoin Price Analysis

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Last Updated January 13th 2022
3 Min Read
  • The Dogecoin price is currently up by 2.53%, as buyers look to push to DOGE above $0.15. 
  • During recent sessions, DOGE had been quite bearish and had started the current week in the red, dropping by nearly 5%. 

As buyers look to push DOGE higher, the Dogecoin price pushed up significantly during the current session. DOGE was quite bearish over the weekend, as the price dropped by 2.65% on Saturday and registered a marginal drop on Sunday to end the weekend on a bearish note. DOGE continued to drop on Monday, as sellers drove the price down to $1.14 before making a strong recovery on Tuesday and pushing back to $0.15. The current session sees DOGE up by nearly 3%. 

Dogecoin Price Chart Indicates DOGE Could Push Above $0.15 

The Dogecoin price was quite bearish at the start of the previous week, dropping by 2.63% on Monday. The price remained in the red on Tuesday, registering a marginal drop and falling by 0.76%. The bearish sentiment persisted on Wednesday, as the price dropped nearly 6%, dropping to $0.15. Despite the overall bearish sentiment, DOGE was able to register a marginal recovery on Thursday before falling back in the red on Friday, falling by 3.31%.

Image: DOGE/USD daily

Image: DOGE/USD daily chart 011322

After dropping by over 3% on Friday, the Dogecoin price continued to drop over the weekend, falling by 2.65% on Saturday and then dropping by 0.40% on Sunday to end the weekend on a bearish note. Monday saw DOGE register a significant drop, as the price fell by nearly 5% and dropped to $0.14. DOGE rallied on Tuesday, rising by 7.55% and pushing back to $0.15, before rising over 4% during the current session and pushing to $0.16.

We can see that the MACD is currently bearish, but if the price continues to push higher, 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 $0.17. At this price level, over 102,000 addresses have sold more than 5 billion DOGE.

Image: IntoTheBlock

Image: DOGE/USD volume chart 011322

The 4-hour Dogecoin price chart shows us that DOGE had pushed up to $0.15 on the 8th, but with the 20-bar SMA acting as resistance, the price fell back, dropping to $0.14. DOGE made a strong recovery from this level, rising to $0.15 on the 9th. At this level, the 20-bar SMA was acting as resistance, and the price fell back, dropping back to $0.14 on the 10th. DOGE made a strong rally from this level, as the price rose above the 20 and 50-bar SMA, rising to $0.16. However, DOGE could not stay at this level and fell back, dropping back below the 50-bar SMA and settling at $0.15, where the 20-bar SMA acted as support. The price rallied once again from this level, pushing back above the 50-bar SMA and rising to its current level of $0.16.

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

Image: DOGE/USD 4-hour

Image: DOGE/USD 4-hour chart 011322

DOGE Price Is Expected To Reach These Levels

Looking at the Dogecoin price chart, we can see that DOGE has been extremely bullish over the past couple of days, with the price pushing above $0.16 during the current session. If the current sentiment persists, we could see DOGE push to $0.17.