Dogecoin Price recovered 20%, More upside left in DOGE price?

• 1 Dogecoin value defended $0.06500 support and recovered 20% approx from lows.
• 2 DOGE value struggles to climb supra 50 time EMA.
• 3 Dogecoin value prediction suggests prices mightiness consolidate successful nan wide range.

Dogecoin value roseate by 4.71% connected a play ground and showed a betterment of 20% approx from nan caller plaything debased astatine $0.06259. Dogecoin value formed a bullish hammer candle from nan request area and showed first signs of inclination reversal. However, nan prices look to beryllium facing guidance astatine nan 50 time EMA and nan confirmation of inclination reversal is still awaited. 

Dogecoin value presently trading astatine $0.07383 pinch an intraday emergence of 1.21% and 24 hr measurement to marketplace headdress ratio astatine 0.0723. The brace of DOGE/BTC is trading 0.00000274 pinch an intraday emergence of 1.11%. At nan opening of February, DOGE value attempted to break retired of $0.10012 level but sadly it sewage rejected and reversed successful a downward direction. Later, wide marketplace sentiment turned bearish and Dogecoin value sewage negatively impacted. After consolidating for a fewer weeks successful nan constrictive range, DOGE prices started declining by forming little lows and slipped beneath nan 200 time EMA.

Will Dogecoin value retest nan erstwhile precocious ?

DOGE/USDT regular floor plan by Tradingview

DOGE value : Technical outlook

Dogecoin value prediction propose prices mightiness consolidate successful a wide scope until immoderate large whales turned highly bullish. The method indicators of nan DOGE crypto for illustration MACD had generated a affirmative crossover indicating bullishness mightiness proceed successful coming days. The RSI astatine 47 sloping sideways denotes nan neutral area and nan equilibrium betwixt bullish and bearish positions. 

Conclusion 

Dogecoin value had shown a decent betterment of 20% from nan caller plaything debased and created a dream for nan bullish inclination reversal. However, nan prices are facing guidance astatine nan 50 time EMA and look to beryllium lacking nan momentum. The method study suggests DOGE value is expected to consolidate for immoderate clip earlier deciding nan further direction. 

Technical levels

Resistance levels : $0.10012 and $0.10993

Support levels : $0.06259 and $0.05478

Disclaimer

The views and opinions stated by nan author, aliases immoderate group named successful this article, are for informational purposes only, and they do not found financial, investment, aliases different advice. Investing successful aliases trading crypto assets comes pinch a consequence of financial loss.