Doge Price Prediction:

Due to early bulls taking advantage of the last-minute selloff into the $0.06 region on December 30, 2022, Dogecoin’s price is up 10% since the beginning of the year.

As bears have taken profits at every new high in the new rally, there is undeniable proof of turmoil. On January 10 and 11, the bears’ presence attempted to buck the trend, and there is reason to think they may try again soon.

The price of one dogecoin is now $0.077. The Relative Strength Index (RSI), an indicator used to determine the strength of a market move in relation to speed and rebound zones, clearly shows the resistance of the uptrend.

The RSI indicates that during the selloff on December 30, the DOGE price breached very oversold territory, which is only achievable when bears are in control of the trend.

Additionally, the infamous meme coin token has yet to move beyond overbought regions, indicating that the trend has changed.

In contrast to the beginning of a fresh impulsive rally, DOGE’s continuous price variations below the 65 mark on the RSI more closely resemble a countertrend spike.

The DOGE is currently trading at the 50% threshold, according to a Fibonacci retracement tool encompassing the previous trading range throughout the collapse.

A rise into the 61.8% retracement at $0.081 is very likely, and it would increase Dogecoin’s market value by 5%.

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