Technical Analysis of Dogecoin (DOGE) - part 1

1. Basic Information about DOGE

Current Price: $0.1566 USD

Total Value (Market Capitalization): $23.6 billion

Trading Volume (last 24 hours): $886 million

24-Hour Price Range: Between $0.1539 and $0.1592

Weekly Change: +5.61%

Monthly Change: -6.63%

2. Support and Resistance Levels

Support:

Support is the level where the price tends to stop and start rising.

$0.150 USD: If the price of DOGE drops to this level, it could bounce back and start rising.

$0.135 USD: If DOGE falls below this level, it could continue to drop.

Resistance:

Resistance is the level where the price struggles to keep rising.

$0.170 USD: If DOGE breaks above this level, it could continue to rise.

$0.250 USD: This is a higher resistance level where the price might face more difficulties in continuing to rise.

3. Key Technical Indicators

RSI (Relative Strength Index): 51

An RSI of 51 indicates that DOGE is in a neutral zone. This means it is neither overbought nor oversold, so there are no clear signals to buy or sell.

MACD (Moving Average Convergence Divergence):

The MACD is crossing upwards, which could indicate that the price of DOGE might rise in the short term.

4. Projections for 2025

Bullish Scenario (Rise):

If DOGE surpasses $0.17 USD, it could continue rising to $0.22 – $0.75 USD in the coming months. If the market is positive, it could even reach $1.00 USD.

Sideways Scenario (Stable):

It could remain between $0.14 and $0.17 USD, without major movements, unless a significant event occurs.

Bearish Scenario (Drop):

If DOGE falls below $0.14 USD, the price could continue to drop to $0.11 or $0.13 USD.

5. Investment Suggestions

Conservative Investor (Low Risk):

Strategy: Wait for DOGE to surpass $0.17 USD before buying.

Loss Limit: If the price falls below $0.145 USD, sell.

$DOGE #BinanceAlphaAlert #SolanaSurge #PowellRemarks #Write2Earn