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Dogecoin (DOGE) Eyes $0.0838 Amid Bullish Indicators

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Arslan is an expert live webinar speaker and derivatives analyst, specializing in cryptocurrencies, Forex, commodities, and indices. He holds an MBA in Finance and an MPhil in Behavioral Finance from the University of Gujrat (UOG), Pakistan. With many years of experience in cryptocurrency and Forex trading, Arslan currently focuses on cryptocurrency price predictions and forecasts. Arslan has previously worked with several brokerage firms’ Forex and cryptocurrency trading teams, managing client exposure risk. Arslan has worked at CAPEX.com and NatureForex.com, among others.
By Arslan Ali Butt
author
Arslan is an expert live webinar speaker and derivatives analyst, specializing in cryptocurrencies, Forex, commodities, and indices. He holds an MBA in Finance and an MPhil in Behavioral Finance from the University of Gujrat (UOG), Pakistan. With many years of experience in cryptocurrency and Forex trading, Arslan currently focuses on cryptocurrency price predictions and forecasts. Arslan has previously worked with several brokerage firms’ Forex and cryptocurrency trading teams, managing client exposure risk. Arslan has worked at CAPEX.com and NatureForex.com, among others.
on November 30, 2023 | 2 min
Updated on Nov 30, 2023
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  • Dogecoin DOGE exhibits bullish momentum, with its price surpassing the $0.081 mark.
  • Technical indicators like RSI and MACD reinforce a positive outlook.
  • Chart analysis reveals a symmetrical triangle pattern, indicating potential for an upward breakout.

As of November 30, Dogecoin (DOGE) presents a compelling case in the cryptocurrency market. With a current price of $0.081692 and a 24-hour trading volume of over $604 million, the coin has witnessed a 1.30% increase, affirming its status as a notable player in the crypto realm. Currently ranking ninth in terms of market capitalization, Dogecoin holds a significant position with a market cap of approximately $11.6 billion and a circulating supply of over 142 billion coins.

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DOGE/USD Price Chart
DOGE/USD Price Chart – Source: Tradingview

Dogecoin DOGE Price Prediction: Technical Outlook

In the technical landscape, Dogecoin is trading above its pivot point of $0.0774, hinting at a bullish sentiment. This is further validated by the immediate resistance levels situated at $0.0838, $0.0891, and $0.0955. On the downside, support levels are established at $0.0723, $0.0659, and $0.0606, providing potential cushions against price pullbacks.

The technical indicators for DOGE/USD offer an optimistic outlook. The Relative Strength Index (RSI) stands at 57, indicating a bullish market sentiment without venturing into the overbought territory. This suggests that there may be room for further upward movement before any significant selling pressure emerges. The Moving Average Convergence Divergence (MACD) at 0.0001, with a signal line at 0.0009, reinforces this bullish stance, though the closeness of these values suggests a need for caution among traders.

The 50-Day Exponential Moving Average (EMA) at 0.0790 adds another layer to the bullish narrative, with the current price hovering above this average. This positioning indicates that Dogecoin is maintaining a short-term upward trend, aligning with the broader bullish signals from other indicators.

A noteworthy development in the Dogecoin chart is the formation of a symmetrical triangle pattern on the 4-hour chart. This pattern typically signifies a period of consolidation before a potential breakout. In Dogecoin’s case, the breakout direction seems to be leaning towards the upside, given the confluence of bullish signals from other technical indicators.

In summary, the overall technical outlook for Dogecoin is bullish, especially as the price remains above the crucial $0.0774 mark. The current setup suggests that Dogecoin could soon test the immediate resistance level at $0.0838. However, traders should remain vigilant, as the crypto market is known for its volatility, and any external market shocks could influence price movements.

Stay tuned for more updates!

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About Arslan Ali Butt
Arslan is an expert live webinar speaker and derivatives analyst, specializing in cryptocurrencies, Forex, commodities, and indices. He holds an MBA in Finance and an MPhil in Behavioral Finance from the University of Gujrat (UOG), Pakistan. With many years of experience in cryptocurrency and Forex trading, Arslan currently focuses on cryptocurrency price predictions and forecasts. Arslan has previously worked with several brokerage firms’ Forex and cryptocurrency trading teams, managing client exposure risk. Arslan has worked at CAPEX.com and NatureForex.com, among others.
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