Dogecoin

Read

The post <a href="https://coinpedia.org/price-analysis/doge-price-flights-from-200d-ema-eyes-0-090/" rel="noopener noreferrer nofollow">DOGE Price Flights From 200D EMA, Eyes $0.090</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
With the market finding a fresh breath of recovery, the meme coins are ready for a comeback in February. Amongst the rising trends, the DOGE price trend showcases a quick reversal from the 200-day EMA and picks up momentum.&nbsp;
Teasing a conclusion to the pullback phase in the daily chart, the anticipations are high around Dogecoin for a quick upside move.&nbsp;
Read our <a href="https://coinpedia.org/price-prediction/dogecoin-price-analysis/" rel="noopener noreferrer nofollow">DOGE price prediction</a> NOW to find out if Dogecoin will cross the $0.10 mark in 2024.&nbsp;
<h2 class="wp-block-heading" id="h-dogecoin-s-w-shaped-comeback-eyes-a-breakout-run">Dogecoin’s W-shaped Comeback Eyes A Breakout Run</h2>
<figure class="wp-block-image size-large"><img decoding="async" src="https://www.tradingview.com/x/oXGvB3H4/" alt="">
</figure>
Source: <a href="https://www.tradingview.com/x/oXGvB3H4/" rel="noopener noreferrer nofollow">Tradingview</a>
Following the bullish failure to sustain above the 50-day EMA, the DOGE price faces a setback in retesting the 200-day EMA. The downfall resulted in a drop to $0.077 from the peak of $0.0877, a ~12% decline in market cap.&nbsp;
Currently, the Dogecoin shows a sideways to diagonal trend, ready to lift off from the 200-day EMA. Meanwhile, last night’s jump of 3.04%, making a bullish engulfing candle with a spike in trading volume, supports the possibility of reversal.&nbsp;
Hampering the upside move, the dynamic resistance of the 50-day EMA keeps the growth in check and leads to higher price rejection. As a result, a consolidation range forms between the two crucial average lines. Hence, an escape from either side can change the trajectory of the DOGE price trend.&nbsp;
Technical indicators:
MACD Indicator: The bullish crossover between the MACD (blue line) and the signal line (orange line) suggests that the recovery trend for this asset is resurfacing. Buyers will gain further momentum if the indicator slopes rise above the midline, extending the ongoing bull run.
<h2 class="wp-block-heading" id="h-will-doge-price-reach-0-10">Will DOGE Price Reach $0.10?</h2>
Dogecoin gives an entry signal following a bullish reversal from the dynamic support to cross the 50% Fibonacci retracement level around $0.080. However, the immediate resistance of the downsloping 50-day EMA. A breakout above this dynamic resistance can carry the DOGE price higher to $0.090, potentially reaching the $0.10 mark.&nbsp;
On a contrary note, if the consolidation breaks below the 200D EMA, the altcoin may drop to $0.075.

DOGE Price Flights From 200D EMA, Eyes $0.090

Table of Contents

CoinPedia News

Other articles published on Jan 30, 2024

$5B flight from GBTC likely led to outflows in other regions — CoinShares

$DEFI Token Hits 7 Major Exchanges: A Milestone Achievement (30 Jan)

Shiba Inu (SHIB) Unlikely To Hit $1 by 2024, Yet This $0.01 Token Will

Stock market chills: S&P 500 defies gravity while Bitcoin remains in a precarious balance

Top Strategies for Crypto Investors in Q1 2024: Altcoin Season Incoming?

Dark web drug kingpin surrenders $150m in crypto

Join our free newsletter for daily crypto updates!