There’s no big meme coin mania without Dogecoin’s pumps. Last week was very decent for DOGE holders, with the price surging 17%.
The DOGE price is now trading above $0.13 and attempting to break the $0.14 level at the time of writing.
Analysis Points to Bullish Dogecoin Price Prediction
altFINS recently posted a technical analysis on DOGE price. Here’s a breakdown of their analysis:
A bullish breakout from the Falling Wedge pattern, above the $0.126 key level and 200-day moving average, could signal a trend reversal. This presents a potential 30% upside to $0.17, with a suggested stop loss at $0.114.
The Falling Wedge pattern typically results in a bullish breakout. When the price breaks the upper trend line, it’s expected to pump higher. While swing traders might trade emerging patterns between convergence lines, most traders should wait for a completed pattern with a breakout before placing a BUY order.
Momentum is currently bullish, with the MACD Line crossing above the MACD Signal Line. The price is neither overbought nor oversold based on RSI-14 levels (RSI > 30 and RSI < 70).
For support and resistance levels, the nearest support zone is at $0.10, followed by $0.075. The nearest resistance zone sits at $0.17.
Based on altFINS’ analysis, $0.17 is the next crucial level to watch, representing a potential 30% pump from the current price.
Many analysts remain positive about Doge’s future, with $1 still considered the big bull run price target for the meme coin king.
Read also: Here’s Why BONK Meme Coin Price Is Going Up Today?
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