Dogecoin Trading at $0.1723 with Potential 16% Price Move
Dogecoin (DOGE) is trading at approximately $0.1723, showing no significant change in the last 24 hours. Analyst Ali Martinez identified a consolidation range between $0.16 and $0.18. A close outside this range could lead to a 16% price movement.
- Martinez's chart indicates an ascending triangle pattern with resistance at $0.177 and potential support from higher lows.
- A breakout above $0.177 may push DOGE towards $0.208.
- If the price drops below support levels, it could decline to $0.146 or lower.
- The daily chart shows a falling wedge pattern, typically a bullish signal.
- Carl Moon predicts a price target of $0.434, representing a 150% increase from the current level.
- Bollinger Bands indicate DOGE is near the mid band; breaking above $0.18 may confirm upward momentum.
- RSI around 52 suggests increasing buying pressure, with resistance levels at $0.18 and $0.20.
- Immediate support is at $0.16, with stronger support at $0.14.
Analyst Andrew Griffiths noted DOGE has maintained its 1-month MA50, indicating a history of similar cycles with reduced volatility. The 1-week RSI suggests a potential rise to $1 by year-end. Despite recent market slumps, DOGE has gained 30% over the past year but remains 76% down from its peak of $0.7376 in May 2021.