Price Analysis

After $0.14 Levels, These Maybe the Target Levels for Dogecoin (DOGE) Price by This Weekend!

Written by: Sahana Vibhute

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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Apr 5, 2022

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Highlights

    Dogecoin suddenly jumped into action, probably, Elon Musk, a DOGE proponent may have fueled the flip

    The current flip appears to be pretty strong as the price remained elevated, nullifying the after-effects of the spike

    The present-day close may be extremely crucial for the DOGE price as it may end up squashing the bearish trend for a notable time frame

Dogecoin was swinging within a huge descending trend from May 2021, almost a year, where-in each attempt of a rebound went in vain. However, the asset from the past couple of hours is displaying extreme bullish momentum which points toward an extreme upswing incoming any moment from now. The DOGE price’s prolonged and extended consolidation may have induced significant strength which may be utilized during the upcoming spike. 

All this began when Dogecoin proponent, Elon Musk purchased 9.2% of Twitter stocks. The price witnessed a sudden spike like it does every time Mr Mush is in action. However, the asset still remained distinct from $0.15 which are crucial phases. If these levels are sealed before the day’s close, the entire Q2 trade may be pretty bullish for the asset & reach the desired target beyond $0.3 too. 

Also Read: Cardano Price May Witness Huge Volatility soon, ADA May hit $1.6 Any Time this Week!

One of the popular analysts briefly pen’s down the upcoming targets and the crucial zones for the DOGE price. Now when it has settled at $0.14, the next target zone may be around $0.166 to $0.173. This was the area when the price faced a significant rejection during the beginning of the Februvary trade and bottomed price close to $0.11. Further surging towards the north surpassing and sustaining 200-day MA at $0.18 could turn the tables for the DOGE price. 

The Q2 trade is expected to be pretty bullish for the asset as the DOGE price is very close to testing the 200-day MA levels after a very long gap of 5 months. Conversely, strong selling and liquidations are also expected at each pivotal level. Therefore the bulls are required to be acting as if the Dogecoin price losses $0.14 levels again, then it may invalidate the bullish narrative for another couple of months. 

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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