Dogecoin Price Prediction: DOGE presents key buy signal with a 30% upswing target


  • Dogecoin price is contained inside a descending triangle pattern on the 4-hour chart.
  • The digital asset is on the verge of a massive 30% breakout towards $0.09.
  • A key indicator has just presented a buy signal giving credence to the bulls.

Dogecoin price has finally calmed down after the massive pump and dump generated by Elon Musk and the Reddit forum WallStreetBets' members. Now, the digital asset is on the verge of another massive move within the next 24 hours.

Dogecoin price on the brink of a 30% move

On the 4-hour chart, Dogecoin price has established a descending triangle pattern, which is on the verge of being broken. Climbing above $0.07 will confirm a bullish breakout towards $0.09, a 30% move.

doge price

DOGE/USD 4-hour chart

The breakout is more likely thanks to a buy signal just presented by the TD Sequential indicator on the 4-hour chart. Dogecoin price is $0.067 at the time of writing, around 2% away from a potential breakout.

doge price

DOGE IOMAP chart

On the other hand, the In/Out of the Money Around Price (IOMAP) chart shows stronger resistance on the way up, especially between $0.07 and $0.071, which coincides with the level above. 

The lower support trendline is formed at $0.062, which shouldn’t be too hard for the bears to break according to the IOMAP model. Losing this key level can drive Dogecoin price down to $0.043.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News


Latest Crypto News & Analysis

Editors’ Picks

GRT risks freefall under $1 amid broad-based crypto declines

The Graph is teetering at $1.73 after its uptrend ran into a barrier around $2.9. Declines have been consistent within the confines of a descending parallel channel. Losing the middle boundary support has left GRT bears with open-air to explore.

More Graph News

LINK bulls flee as broadening wedge pattern hints at a 50% drop

Chainlink price nears the end of an ascending broadening wedge pattern that forecasts a 50% drop. Transactional data shows that $17.8 could be an inflection point. If LINK price slices through this support, then a drop to $13 seems likely.

More Chainlink News

XLM poised for massive 27% breakdown, as the technical picture worsens

Stellar has recently been rejected from the yearly high of $0.61. Bulls tried their best to secure higher support but failed in that task. XLM continues with the breakdown below a descending trendline that seems to have confirmed a triangle pattern on the 4-hour chart. 

More Stellar Lumens News

DOGE in trouble as multiple technical indicators scream sell

Dogecoin price hints at a 75% upswing as the bull flag pattern develops. A decisive close above $0.058 would indicate a start of a bullish breakout. Mounting selling pressure could invalidate crucial support at $0.047 and push it down by 20% to $0.037.

More Dogecoin News

BEST CRYPTO BROKERS/EXCHANGES




Bitcoin Weekly Forecast: BTC journey to $100,000 might be easier than expected

This past week has been extremely beneficial for Bitcoin which jumped by 30% since Monday 8. Several positive announcements, especially Tesla purchasing $1.5 billion worth of the digital asset propelled the flagship cryptocurrency to new highs.

Read the weekly forecast

BTC

ETH

XRP