$DOGE
🚨 Dogecoin Price Forecast: DOGE bulls aim for 20% gains 🚨
Dogecoin price has retested multiple times, and support has been found around its 200-day Exponential Moving Average (EMA) at $0.21 since last week. At the time of writing on Wednesday, it trades above this support level at around $0.23.
If the 200-day EMA remains strong, DOGE could extend the rally by 20% from its current trading levels to retest the 50% price retracement level (drawn from the August 2023 low of $0.05 to the December 2024 high of $0.48) at $0.27.
The Relative Strength Index (RSI) on the daily chart reads 61, above its neutral level of 50, indicating bullish momentum.
However, if DOGE breaks and closes below the 200-day EMA at $0.21, it would extend the correction to retest its next weekly support at $0.18.