Dogecoin price after it surged to reach the interim highs above $0.9, fell apart heavily by more than 38%. The dogecoin is currently trading at $0.058926. Over the last two days, it has had a significant downturn while in the last 24 hours, it dropped slightly by 0.39%.
The chart demonstrates a multi-layer trend that indicates dogecoin has been suppressed or has maintained below this trend line for more than a year. A slight price increase is anticipated if the price moves over this line. This downtrend has a midpoint of $0.39 and a bottom point of $0.04914.
An upswing of roughly 600% or 550% is anticipated in the event of a mean reversion play, however, it might take some time. A final downtrend will anticipate the dogecoin rally and bull run. This bull run or uptrend is not expected to start in late December or early January.
Below the swing lows, a small amount of liquidity can be observed resting. Since the price of bitcoin is anticipated to drop under $12,000, the upswing at $0.18157 for Dogecoin is not anticipated. In this case, it could be reasonable to expect a bottom around $0.05248, a stop loss at $0.04312, and equal highs at $0.08897.
A 53% of the observed uptick is anticipated to take place gradually. The price skyrocketed from $0.04057 to $0.04703 in about two months. Dogecoin(DOGE) price is currently pretty close to its bottom, and in the coming days, it’s anticipated that an up-only type of trading will evolve.
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