Doge Price Prediction: Today’s Dogecoin Price, 11th Feb 2023

Doge Price Prediction:

Dogecoin’s price has taken a minor dip, falling 3% on a daily basis. The bulls, on the other hand, have established support near the upper $0.08 level, which is accompanied by a bullish divergence on the 4-hour Relative Strength Index (RSI).

The RSI is a momentum oscillator that measures an asset’s kinetic potential. When the RSI makes higher lows while the price makes lower lows, this is referred to as a bullish divergence.

DOGE’s divergence indicates a potential reversal during the current selloff and underlying market strength.

Dogecoin is currently auctioning for $0.089. The 21-day Simple Moving Average (SMA) is another important technical indicator that traders use to determine an asset’s trend and momentum.

DOGE is currently testing the support of its 21-day SMA, which can be interpreted as a bullish sign. If DOGE can successfully hold above this critical level, it could spark a rally towards $0.10.

This would put the bearish liquidity at the $0.098 swing high to the test, resulting in a 12% increase in market value.

Traders, on the other hand, should keep an eye on the critical barrier at $0.084. A break below the previous swing low would indicate a shift in market structure and would prompt a more aggressive reversal. DOGE could fall as low as $0.067 in this scenario, resulting in a 25% loss in market value.

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