Long-Term Outlook

Dogecoin Weekly Logarithmic Chart – Source: Tradingview.com

A look at the Weekly logarithmic chart for DOGE shows that the price is trading inside the support area near $0.0019.

It has also found support above the 200-period moving average, but it is trading below the 21 and 50-period ones which have made a bearish cross.

There has been minimal movement in DOGE’s price for the past ten weeks.

The RSI is at 39, indicating neither oversold nor overbought conditions.

The MACD has just made a bullish cross and is moving upward, but is not positive yet.

The closest resistance area is found near $0.0033

Medium-Term Outlook

Dogecoin 3-Day Chart – Source: Tradingview.com

A look at the 3-day chart shows that the price has been following a descending support line for the past 347 days.

It is facing very close resistance from the 21-period moving average, while also trading below the 50-period one.

On a more positive note, there is significant bullish divergence developing in the RSI.

Furthermore, the MACD has made a bullish cross and is moving upward, but is not positive yet.

Dogecoin Daily Chart – Source: Tradingview.com

A look at the Daily chart gives us the minor resistance area near $0.0022.

Furthermore, we can see that the price is struggling to trade above the 21 and 50-period moving averages.

Also, while it initially seemed that the MACD would move above 0, it made a bearish cross and is currently falling.

Short-Term Outlook and Price Prediction

Dogecoin 6-Hour Chart – Source: Tradingview.com

A look at the 6-hour chart shows that the price has been following a steadily increasing support line for roughly the past 29 days.

Furthermore, there is some bullish divergence developing in the MACD, which is however negative.

Price Prediction:

I believe that during the next two weeks the price will move to the resistance area near $0.0022

Conclusions:

  • There is support near $0.0019 and resistance near $0.0033.
  • There is medium-term bullish divergence developing in the RSI.
  • Price is following a short-term ascending support line.

Latest Dogecoin News:

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