DOGE Price Prediction: Bullish Trend May continue After a Pullback

The bulls’ momentum is increasing in DOGE market

DOGEUSD Price Analysis – October 06

When the buyers’ pressure increase, the resistance level of $0.066 may be broken upside, DOGE may increase to $0.072 and $0.077.   In case the resistance level of $0.066 holds, the price may reverse and face the support level at $0.060, which may decrease further to $0.055 and $0.050.

DOGEUSD Market

Key levels:

Resistance levels: $0.066, $0.072, $0.077

Support levels: $0.060, $0.055, $0.050

DOGEUSD Long-term Trend: Bullish

DOGEUSD is bearish in the daily chart. Last two weeks, Dogecoin was bearish on the daily chart. The support level of $0.055 was tested. The crypto formed a chart pattern called Cup with handle shape at $0.060 level. It is a bullish chart pattern.  Dogecoin increased to the resistance level of $0.066, it is opposed by the bears’ pressure. That is what looks like pullback at the moment.

The fast Moving Average (9 periods) is above the slow Moving Average (21 periods EMA). The crypto is trading above the two EMAs as a sign of bullish movement. When the buyers’ pressure increase, the resistance level of $0.066 may be broken upside, Dogecoin price may increase to $0.072 and $0.077.   In case the resistance level of $0.066 holds, the price may reverse and face the support level at $0.060, which may decrease further to $0.055 and $0.050. The relative strength index period 14 is at 55 levels bending down to indicate sell signal.

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 DOGEUSD medium-term Trend: Bullish

DOGEUSD is bullish in the 4-hour chart. The Dogecoin price action formed cup with handle chart pattern which triggers the bullish momentum. The coin increased and tested the resistance level of $0.066 three times. The price is currently pulling back to retest the dynamic support levels.

The currency is trading above the 21 periods EMA and 9 periods EMA and the two EMAs are pointing up which indicates buying market. The relative strength index period 14 is at 54 levels and the signal lines pointing down exhibiting sell signal.

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