Lokesh Gupta
30-08-2023
Dogecoin is exhibiting promising indicators, maintaining levels above $0.0650 against the US Dollar. Its potential for further ascent remains intact as long as it remains above the crucial $0.0600 support mark. Following a notable decline, the price of Dogecoin found a foothold around the $0.055 region. It reached a low point of $0.0556 before embarking on a fresh upward trajectory.
Subsequently, the price successfully surpassed the $0.0600 threshold and settled above $0.0606. Mirroring the performance of Bitcoin and Ethereum, Dogecoin experienced a substantial surge. This surge facilitated the clearing of the $0.0620 resistance point. Moreover, the price surged past the 50% Fibonacci retracement level.
On the Upside, the price is meeting resistance near $0.0670. Overcoming the initial hurdle at $0.0690 could lead to a push towards $0.0725. Further gains might target $0.0780 and even $0.080.
If DOGE is unable to establish upward momentum beyond $0.0690, a potential downward correction might ensue. Initial support is anticipated around the $0.0640 mark, followed by a more significant support near $0.0606. A breach beneath the $0.0606 support could lead to further decline, possibly pushing the price down towards $0.055.
Based on Coingabbar Price Analysis, DOGE market capitalization is expected to be $9,209,889,923. The coin's 24-hour trading volume is around $580,673,984.
KEY LEVELS :
RESISTANCE LEVEL : $0.06700-$0.06900
SUPPORT LEVEL : $0.06200-$0.06000
Is today's DOGE pump attributed to increasing adoption, indicating bullish momentum or FOMO? Could DOGECOIN's value really skyrocket? Is it plausible for DOGE to reach $1 prior to 2023? Please provide your perspectives in the comment box.
Disclaimer: Crypto is not regulated and can offer considerable risks. There may be no regulatory remedies available in the event of any losses resulting from price analysis. As a result, before engaging in any transactions involving crypto products, each investor must perform in-depth examination or seek independent advice.
Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.
Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.
5 months ago
Good Sharing
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