Dogecoin Price Holds Higher: Can DOGE Keep Up The Pace?
Dogecoin price was down nearly 1.08% intraday and was trading close to 0.210 USD at the time of writing.
The technical indicators imply a strong outlook above the key EMAS of 20,50 and 200 Day.
The Dogecoin price trades with a swift intraday loss of nearly 1.08% in the 1st half on Saturday. The bears are trying to regain control and drag the price lower on the second consecutive day.
However, the price still hovers near the monthly high value despite the bear's attack in the last couple of sessions. The short term as well as the long term trend is positive and the DOGE crypto is headed higher.
Recently, the DOGE price made a breakout on the higher side and hit a new yearly high value at $0.228. The price bounded back from the 50 day EMA and ended the consolidation with a breakout.
On the lower side, the previous supply zone now may act as a demand and the price may take a rebound after retracing it. The technical indicators imply a strong outlook as the price hovers above the key EMAs of 20, 50 and 200 day EMA.
On the higher side, any breakout may be considered as a trend constitution and the price may continue to rise further until it hits a strong supply zone.
Dogecoin Crypto Volatility Analysis
<iframe title="Santiment Chart: Price (DOGE), Price Volatility 1w (DOGE)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=dogecoin&pt=DOGE&df=2023-12-01T00%3A00%3A00.000Z&dt=2024-03-22T18%3A29%3A59.514Z&sat=shchcfg_hOTFUTWfTB1O&emcg=1&emhwm=1&wm=price_usd%3Bprice_volatility_1w&wax=0%3B1&wc=%2333bd5d%3B%23FF5B5B&ws=%7B%22node%22%3A%22area%22%7D%3B" scrolling="no"></iframe>
The above chart shows a correlation between the price and volatility of Dogecoin price. Volatility metrics is an indicator of the fluctuation on the price. A high volatility generally indicates an instability in the price.
The volatility analysis of the Dogecoin price highlights that the volatility curve turned towards the north in the last week of January as the price jumped higher after breakout. However, it dropped after the DOGE crypto seemed stabilizing at the higher levels. The last couple of sessions have seen a drop in the volatility indicating the price stabilizing at the CMP.
Number of Active Addresses Surged In the last Two Months!
<iframe title="Santiment Chart: Active Addresses 7d (DOGE), Active Addresses 24h (DOGE)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=dogecoin&pt=DOGE&df=2023-12-01T00%3A00%3A00.000Z&dt=2024-03-22T18%3A29%3A59.514Z&sat=shchcfg_hOTFUTWfTB1O&emcg=1&emhwm=1&wm=active_addresses_7d%3Bactive_addresses_24h&wc=%23FFCB47%3B%23FF5B5B&ws=%3B" scrolling="no"></iframe>
The Dogecoin active addresses data implies the number of users currently participating in either buying or selling of the cryptocurrency. It also elaborates a change in the number of active users over a period of time.
The above chart shows that the number of active addresses saw a positive development in the last week of January and continued till the 1st week of March. The number of active addresses have dropped in the last couple of weeks.
Dogecoin Price Sentiment Analysis
<iframe title="Santiment Chart: Negative sentiment (Total) (DOGE), Positive sentiment (Total) (DOGE), Weighted sentiment (Total) (DOGE)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=dogecoin&pt=DOGE&df=2023-12-01T00%3A00%3A00.000Z&dt=2024-03-22T18%3A29%3A59.514Z&sat=shchcfg_hOTFUTWfTB1O&emcg=1&emhwm=1&wm=sentiment_negative_total%3Bsentiment_positive_total%3Bsentiment_volume_consumed_total&wax=0%3B1%3B2&wc=%23FF5B5B%3B%23FFCB47%3B%235275FF&ws=%7B%22interval%22%3A%221d%22%7D%3B%7B%22interval%22%3A%221d%22%7D%3B%7B%22interval%22%3A%221d%22%7D" scrolling="no"></iframe>
The Dogecoin Sentiment data displays the current domination of the bulls or bears in the short term. It also shows the change in sentiments in the recent sessions which gives early signals of a trend change or a trend continuation.
The sentiment data analysis depicts that the bulls hold the grip since the mid February and the DOGE price is heeded higher forming lower lows and lower highs structure. The overall sentiment has dropped slightly in the last couple of sessions. However, the overall sentiment is still positive.
Dogecoin Price Prediction April 2024.
As per the most bullish observation of our analysts, the DOGE price may attain a higher levels of $0.25 and $0.3 levels in April if resumes on the higher side with the same momentum. While if the bulls fail to keep up the pace and the price drops, lower levels of $0.185 and $0.15 may act as a support level and try to halt the further fall.
Conclusion.
The Dogecoin price is down in the last two sessions after a strong rally. The rally was driven by the bulls after the price bounced back from the dynamic support of 50 EMA. Earlier, the crypto witnessed a consolidation of nearly two weeks near the monthly high which was broken after the recent breakout.
Now, the previous breakout zone may act as a support if the price drops. The short term as well as long term trend outlook is positive which may act as a buy on dip scenario for the traders and investors. On the higher side, the $0.25 and $0.3 levels may be targeted for the next month.
Technical levels:
Support levels: $0.185 and $0.15
Resistance levels: $0.228 and $0.25
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
The technical indicators imply a strong outlook above the key EMAS of 20,50 and 200 Day.
The Dogecoin price trades with a swift intraday loss of nearly 1.08% in the 1st half on Saturday. The bears are trying to regain control and drag the price lower on the second consecutive day.
However, the price still hovers near the monthly high value despite the bear's attack in the last couple of sessions. The short term as well as the long term trend is positive and the DOGE crypto is headed higher.
Recently, the DOGE price made a breakout on the higher side and hit a new yearly high value at $0.228. The price bounded back from the 50 day EMA and ended the consolidation with a breakout.
On the lower side, the previous supply zone now may act as a demand and the price may take a rebound after retracing it. The technical indicators imply a strong outlook as the price hovers above the key EMAs of 20, 50 and 200 day EMA.
On the higher side, any breakout may be considered as a trend constitution and the price may continue to rise further until it hits a strong supply zone.
Dogecoin Crypto Volatility Analysis
<iframe title="Santiment Chart: Price (DOGE), Price Volatility 1w (DOGE)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=dogecoin&pt=DOGE&df=2023-12-01T00%3A00%3A00.000Z&dt=2024-03-22T18%3A29%3A59.514Z&sat=shchcfg_hOTFUTWfTB1O&emcg=1&emhwm=1&wm=price_usd%3Bprice_volatility_1w&wax=0%3B1&wc=%2333bd5d%3B%23FF5B5B&ws=%7B%22node%22%3A%22area%22%7D%3B" scrolling="no"></iframe>
The above chart shows a correlation between the price and volatility of Dogecoin price. Volatility metrics is an indicator of the fluctuation on the price. A high volatility generally indicates an instability in the price.
The volatility analysis of the Dogecoin price highlights that the volatility curve turned towards the north in the last week of January as the price jumped higher after breakout. However, it dropped after the DOGE crypto seemed stabilizing at the higher levels. The last couple of sessions have seen a drop in the volatility indicating the price stabilizing at the CMP.
Number of Active Addresses Surged In the last Two Months!
<iframe title="Santiment Chart: Active Addresses 7d (DOGE), Active Addresses 24h (DOGE)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=dogecoin&pt=DOGE&df=2023-12-01T00%3A00%3A00.000Z&dt=2024-03-22T18%3A29%3A59.514Z&sat=shchcfg_hOTFUTWfTB1O&emcg=1&emhwm=1&wm=active_addresses_7d%3Bactive_addresses_24h&wc=%23FFCB47%3B%23FF5B5B&ws=%3B" scrolling="no"></iframe>
The Dogecoin active addresses data implies the number of users currently participating in either buying or selling of the cryptocurrency. It also elaborates a change in the number of active users over a period of time.
The above chart shows that the number of active addresses saw a positive development in the last week of January and continued till the 1st week of March. The number of active addresses have dropped in the last couple of weeks.
Dogecoin Price Sentiment Analysis
<iframe title="Santiment Chart: Negative sentiment (Total) (DOGE), Positive sentiment (Total) (DOGE), Weighted sentiment (Total) (DOGE)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=dogecoin&pt=DOGE&df=2023-12-01T00%3A00%3A00.000Z&dt=2024-03-22T18%3A29%3A59.514Z&sat=shchcfg_hOTFUTWfTB1O&emcg=1&emhwm=1&wm=sentiment_negative_total%3Bsentiment_positive_total%3Bsentiment_volume_consumed_total&wax=0%3B1%3B2&wc=%23FF5B5B%3B%23FFCB47%3B%235275FF&ws=%7B%22interval%22%3A%221d%22%7D%3B%7B%22interval%22%3A%221d%22%7D%3B%7B%22interval%22%3A%221d%22%7D" scrolling="no"></iframe>
The Dogecoin Sentiment data displays the current domination of the bulls or bears in the short term. It also shows the change in sentiments in the recent sessions which gives early signals of a trend change or a trend continuation.
The sentiment data analysis depicts that the bulls hold the grip since the mid February and the DOGE price is heeded higher forming lower lows and lower highs structure. The overall sentiment has dropped slightly in the last couple of sessions. However, the overall sentiment is still positive.
Dogecoin Price Prediction April 2024.
As per the most bullish observation of our analysts, the DOGE price may attain a higher levels of $0.25 and $0.3 levels in April if resumes on the higher side with the same momentum. While if the bulls fail to keep up the pace and the price drops, lower levels of $0.185 and $0.15 may act as a support level and try to halt the further fall.
Conclusion.
The Dogecoin price is down in the last two sessions after a strong rally. The rally was driven by the bulls after the price bounced back from the dynamic support of 50 EMA. Earlier, the crypto witnessed a consolidation of nearly two weeks near the monthly high which was broken after the recent breakout.
Now, the previous breakout zone may act as a support if the price drops. The short term as well as long term trend outlook is positive which may act as a buy on dip scenario for the traders and investors. On the higher side, the $0.25 and $0.3 levels may be targeted for the next month.
Technical levels:
Support levels: $0.185 and $0.15
Resistance levels: $0.228 and $0.25
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.