Doge Price Prediction: Today’s Dogecoin Price, 24th Jan 2023

Doge Price Prediction:

Dogecoin’s price displayed favourable market signals during the first week of January, enabling day traders to take part in a 25% upswing toward the $0.09 region.

Since the goal has been attained, DOGE is displaying encouraging indicators that the pattern could persist. Profit-taking, however, could result in further decline before another upswing.

The price of Dogecoin is $0.081 at the time of writing. The bears have created lower highs by rejecting the most recent attempt to rally higher, which has led to a lower low at $0.077 as opposed to the previous point set on Monday at $0.081.

The settlement below the 8-day exponential moving average on the 4-hour chart did not occur after the previous pivot point (EMA). An early indicator of altered market behaviour could be the closing price below the barrier as a result of the new low.

The price of DOGE may ultimately continue to decline and retest prior resistance areas at $0.074, which would result in a 10% decline.

Relative Strength Index (RSI), a trend momentum indicator, suggests that the 25% rally may have actually marked the beginning of a much larger bull run as the pump breached overbought conditions into level 75.

Until either the RSI’s 40 level is crossed or the rally’s starting point at $0.065 is found, a decline in the price of DOGE should be viewed as a buying opportunity.

With a touch of the $0.065 level, the bullish trend would come to an end, allowing for a sweep-the-lows event with the $0.049 low of 2022 as the target. 40% of the price of DOGE would be lost if the bears prevailed.

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