02 December 2023 : In this article we will walk you through Dogecoin price analysis for today or for next week and try to answer these frequently asked questions (FAQs), what is short term price prediction for Dogecoin, Is DOGE a good investment? Dogecoin support & resistance levels etc. But before diving deep into the DOGE technical analysis, let us talk about the current market conditions.
Over the last twenty-four hours, there was a down fall of -1.84 percent, bringing the entire cryptocurrency market to $1,455,799,521,535. The total trading volume stands at $48,497,733,926. Bitcoin shares 52.07 percent of the entrie market while Ethereum has a dominance of 16.33%.
which resulted in Bitcoin's price rising to $38,749.75 level after an upward movement of 2.29%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price increase of 0.48 percent reaching to $2,094.48 during the previous 24 hours.
While publishing this blog, BNB traded at $229.10, following a price change of 0.21% within the same time frame. XRP the native coin of XRP is up by 0.65 and currently trading at $0.61. Additionally, Solana reached $60.97 after seeing a uplift of 1.18% in value.
These events indicate that the market is heading in a downward direction for short term. At this moment, a general negative dip can being seen throughout the crypto market.
Support and resistance are important technical indicators used to identify key price levels where the trend can change direction. Support is a level at which buyers become more active and stop the coin's price from falling any further. Similartly, Resistance is a level at which sellers become move active and stop the coin's price from moving higher.
Following are the support and resistance levels of Dogecoin (DOGE)
|DOGE Resistance Levels||DOGE Support Levels|
|Resistance Level 1||$0.062||Support Level 1||$0.056|
|Resistance Level 2||$0.064||Support Level 2||$0.053|
|Resistance Level 3||$0.068||Support Level 3||$0.050|
The price of Dogecoin (DOGE) is at $0.084, up 0.55% in the past 24-hours and has a price change of 6.68% over the week. One day trading volume for BTC is 493,140,697.00 USD while total marketcap reached $11,959,872,244.00 USD. There are almost 142,062,896,384 are in circulation out of 142062896384.
DOGE price analysis for 02 December 2023 within a daily time frame explained below. we use Relative Strength Index(RSI), Moving Average Convergence and Divergence (MACD), Support levels, Resistance levels, different time period moving averages including Simple Moving Average (SMA) and Exponential Moving Average (EMA) to analyze the future movement of the Dogecoin.
|Simple Moving Average (10)||0.060||Buy|
|Exponential Moving Average (10)||0.060||Buy|
|Simple Moving Average (20)||0.061||Buy|
|Exponential Moving Average (20)||0.061||Buy|
|Simple Moving Average (50)||0.061||Buy|
|Exponential Moving Average (50)||0.061||Buy|
While DOGE’s Williams %R indicator is at -58.383 for the 14-day time period indicating a neutral condition.A trade signal is possible at this range. The MACD line is standing below of the signal line after a crossover. Dogecoin investors need to wait for any directional change over the daily chart. The relative Strength Index (RSI) indicates that the DOGE coin is in oversold phase, as RSI is at 24.
As of now, Dogecoin is doing well and is attempting to break out of the reddish zone. In order to invest in the digital currency, crypto investors want to see the DOGE move into the positive zone. As far as we can tell, Dogecoin is on its way up. In 2022 and beyond, the Dogecoin price has a significant likelihood of rising. It's important that you do your own research before making a decision on whether or not this is a smart investment for you.