Rally

Bitcoin

Dogecoin

Meme coin king has surpassed the $0.1 mark after a long hiatus, but this did not last long due to the fluctuation in <a href="https://en.coin-turk.com/unique-application-in-the-spot-bitcoin-etf-race-hashdex-files-with-a-different-approach/" data-wpel-link="internal" rel="noopener noreferrer nofollow">BTC</a> price. While discussing the important developments of the week, we previously mentioned that the king cryptocurrency would continue on a positive trajectory until Friday, but it could stabilize due to the impact of the future data on Friday. It happened, so what’s next?
<h2 style="text-align: justify" id="dogecoin-doge">Dogecoin (DOGE)</h2>
Readings on the weekly chart indicate that the <a href="https://coin-turk.com/shiba-neden-yukseliyor-dogecoin-son-durum" data-wpel-link="internal" rel="noopener noreferrer nofollow">DOGE</a> price has surpassed the 900-day trend line. Previously, the price had made three unsuccessful attempts to break through the tough resistance. Now, we have seen a new local peak at $0.106. The summit seen in the 10th year of <a href="https://coin-turk.com/buyuk-harekete-hazirlaniyorlar-doge-ve-shiba-coin-yorumlari" data-wpel-link="internal" rel="noopener noreferrer nofollow">Dogecoin</a> needs to be taken further; otherwise, this will be an unsuccessful fourth attempt.
<img decoding="async" class="wp-image-285943 aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/12/DOGE-Alinir-Mi-Aralik.png" alt="" width="1209" height="487">
The RSI indicates that the rise may continue. The BTC price has returned to $43,780 after the recent drop. Whether altcoins will continue to rise depends on at which level BTC will consolidate. If the price lingers in this range for a while, it will provide an opportunity for impressive rallies for altcoins, even if only for a few weeks.
<h2 style="text-align: justify" id="doge-price-prediction">DOGE Price Prediction</h2>
The outlook on the weekly chart is still positive, but the setups are reflected late here. Investors watch the daily chart to predict shorter-term movements. Despite reaching the highest level of the new year, the length of the last upper wick on the daily time frame chart is concerning.
Long upper wicks reflect dominant sales, and <a href="https://en.coin-turk.com/which-altcoin-is-the-new-twitter-ceo-a-fanatic-little-known-facts/" data-wpel-link="internal" rel="noopener noreferrer nofollow">DOGE</a> has been unable to overcome resistance due to intense supply from large investors for months. If the selling wave gains momentum again, the rally target may have been met. This is particularly noteworthy while there is a correction risk in the BTC price.
<img decoding="async" class="wp-image-285944 aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/12/DOGE-Guncel-Fiyat-Hedefi.png" alt="" width="1090" height="443">
The $0.095 resistance area that has been stationary since the beginning of the year is crucial for the future of the price. Popular Turkish crypto analyst floud said he exited his position since the price reached the resistance.
<blockquote>
 “I sold 95% of the spot (with a 50% profit) and all of my margin position (with an average profit of 20%) in the red box. Losing the $0.085 level can create a squeeze. If it falls into the green box, I would consider buying again, close to the price. Enjoy.”
</blockquote>
Despite the price movement being in the downward direction, the daily RSI is in the upward direction. The route that the <a href="https://coin-turk.com/ekonomist-kriptolar-geleneksel-paralardan-daha-adil" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> price will follow and whether the DOGE price can remain above the resistance will be decisive for the future. If we see a successful breakout, there could be a 50% increase to $0.145. On the contrary, we could see a drop to $0.07.
<div class="sorumluluk_reddi" style="text-align: justify">Disclaimer: The information contained in this article does not constitute investment advice under any circumstances. Investors should be aware of the high volatility of cryptocurrencies and therefore conduct their transactions in line with their own research.
</div> Continue Reading: <a href="https://en.coin-turk.com/dogecoin-doge-price-analysis-will-the-rally-continue/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/dogecoin-doge-price-analysis-will-the-rally-continue/</a>

Dogecoin (DOGE) Price Analysis: Will the Rally Continue?

Table of Contents

COINTURK NEWS

Other articles published on Dec 7, 2023

Funjible Games Launches Christmas Advent Calendar Daily Giveaways

EPS Dips to $0.06 in Methode’s Fiscal 2024 Q2, Short of Expectations

BONK meme coin surges by over 50%, outperforming Dogecoin and Shiba Inu”

GOOGL Up 2.6% in Premarket as New AI Model Released to Compete with GPT-4

Sotheby’s Pioneers Bitcoin Ordinals With Upcoming NFT Auction

Most People Would Rather Speak to Real Person Than AI Chatbots, Survey Finds

Join our free newsletter for daily crypto updates!