Doge Price Prediction:

During the first week of January, Dogecoin’s price demonstrated positive market signals, allowing day traders to participate in a 25% upswing toward the $0.09 region.

Since the target has been reached, DOGE is giving off encouraging signs that the trend might continue. But before another upward run, profit-taking might cause further decline.

At the time of writing, the Dogecoin price is $0.081. By rejecting the most recent attempt to rally higher, the bears have created lower highs and, as a result, have created a lower low at $0.077 as opposed to the previous point set on Monday at $0.081.

The previous pivot point failed to result in a settlement below the 4-hour chart’s 8-day exponential moving average (EMA). The closing price below the barrier as a result of the new low could be considered an early sign of altered market behaviour.

In the end, the price of DOGE might keep falling and retest previous resistance areas at $0.074, which would cause a 10% decline.

Despite this, the 25% rally may have signalled the start of a much larger bull run as the pump breached overbought conditions into level 75, according to the Relative Strength Index (RSI), a trend momentum indicator.

According to the RSI, a drop in the price of DOGE should be seen as a buying opportunity until either the RSI’s 40 level is crossed or the rally’s starting point at $0.065 is identified.

The bullish trend would end with a touch of the $0.065 level, opening the door for a sweep-the-lows event with the $0.049 low of 2022 as the target. If the bears won, the price of DOGE would fall by 40%.

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