DOGE Sideways Breakout For Traders Is A Way For $0.2

The post DOGE Sideways Breakout For Traders Is A Way For $0.2 appeared first on Coinpedia Fintech News

Bitcoin bears are finally in control after a week, the cryptocurrency has bounced off lows from $56000 to currently at $64000. As the crypto market rebounded in the last 2 days, meme coins have also gained positive momentum. 

Today’s top memecoins on Coinpedia are all green with DOGE up 3%, SHIB by 1.05%, PEPE 2.30%, BONK by 1%, and BOME up 2.80%

DOGE Coin Price Analysis  

The trailblazer of meme coins DOGE has reclaimed the $0.15 level and currently trading at USD 1.63. The 50-day SMA at $ 0.17 provides a glimpse into short-term trends, while the 200-day SMA at $ 0.11 offers a broader perspective. The overall SMA crossover is bearish with short-term and mid-term moving averages cross are bullish, and the long-term shows a bullish crossover. 

Breaking the $1.63 resistance is giving a trend toward $1.7 resistance while creating new support levels at $0.145, $0.13, and $0.129.

As per the chart above the Trade setup for swing traders is a perfect zone where the price is consolidating in the sideway channel ( $0,12- $0.16). With a stop loss level at $0,12, enter the trade at $0,12 and exit anywhere near $0.16. Trend believers can wait for the breakout in either way direction and swing traders can between support and resistance. 

Dogecoin Price prediction

Tesla’s acceptance of Dogecoin has partly impacted the weekly growth by up to 12% and coin’s recent effort to surpass the $0,16 set a positive impact. The Onchain data chart is also spiked with active addresses crossing 6.40 million and a market cap of 23 Billion USD. 

With Continued growing interest and increasing social volume DOGE coins is expected to hit $0.2 this week. Keep an eye on the breakout above $0.17 for the next spike.