Dogecoin(DOGE)priceisshowingsignsofbullishmomentum,asrecenttechnicalindicatorspointtowardpotentialgains.TheIchimokuCloud,EMAlines,andDMIallsuggestpositivemovement,thoughthestrengthofthetrendisstilluncertain.
Buyersaregainingcontrol,butthemomentumneedstostrengthentoconfirmasoliduptrend.TradersshouldwatchkeysupportandresistancelevelsforindicationsofwheretheDOGEpricemightheadnext.
DOGEIchimokuCloudShowsaBullishSetting
TheIchimokuCloudonthe4-hourchartshowsabullishsentiment,withDOGEtradingabovethegreenKumo.Thissuggestsstrongbuyercontrolandpositivemomentum.
Thecloud’scurrentthicknessprovidesasolidsupportlevel,implyingthatanydownwardcorrectionsmaybelimitedunlessbearishpressureincreasessignificantly.
DOGEIchimokuCloud.Source:TradingView
TheTenkan-sen(redline)recentlycrossedabovetheKijun-sen(blueline),signalingshort-termstrengthandalikelycontinuationoftheuptrend.
Additionally,theChikouSpan(greenline)ispositionedwellabovethepricecurve,furthersupportingthebullishoutlook.Tomaintainthispositivetrend,thepricemustremainabovethecloudwhiletheKumostaysgreen.
DogecoinCurrentTrendisStillNotThatStrong
TheDirectionalMovementIndex(DMI)chartforDogecoinshowsmixedsignalsregardingthestrengthofthecurrenttrend.TheyellowlinerepresentstheAverageDirectionalIndex(ADX),whichmeasurestrendstrength.
Currently,theADXisbelow20,indicatingthatthereisnostrongtrendinplaceatthemoment.WhentheADXvalueislow,ittypicallymeansthatthemarketisrangingorlackingcleardirection.
DOGEDMI.Source:TradingView
Theblueline(+DI)andredline(-DI)representbuyingandsellingpressure,respectively.The+DIisslightlyabovethe-DI,indicatingthatbuyershaveaslightedgeoversellers.However,withbothlinesrelativelyclosetogether,thissuggeststhatthebuyingmomentumisnotoverwhelminglystrong.
Forastrongersignal,awiderseparationbetween+DIand-DIwouldbeneeded,accompaniedbyanincreasingADXvalue,whichwouldconfirmasolidtrenddirectionforDOGE.
DOGEPricePrediction:BiggestPriceSinceApril?
TheEMAlinesonthe4-hourchartforDogecoinpricesuggestamixedtrendwithsomebullishsigns.ThepriceissittingaboveallEMAlines:thisalignmentgenerallyindicatesthattheshort-termtolong-termmomentumisinfavorofthebulls,suggestingupwardmovement.
Asindicatedbytheredlines,immediatesupportisfoundaroundthe$0.11996and$0.10858levels.Theselevelshavepreviouslyactedasstrongzoneswherebuyerssteppedin.
DOGEEMALinesandSupportandResistance.Source:TradingView
Ontheupside,keyresistancelevelsareat$0.17526and$0.20355,highlightedbythebluelines.IftheuptrendcontinuesandDOGEcanriseto$0.175,thiswouldmeanapotential20%pricegrowth.Ariseuntil$0.20355wouldmeanthebiggestpriceforDOGEsinceApril.
Breakingabovetheseresistancelevelswouldlikelyindicateacontinuationofthebullishtrend,whileafailuretodosocouldresultinapullbacktotestthesupportzones.
beincrypto.com