The Dogecoin Prize tests the 200-exponential sliding average (EMA). At the same time, buyers try to push through resistance levels and fill Chicago Mercantile Exchange (CME) GAP. This confluence of technical indicators has caused a crypto analyst to carefully monitor Dogecoin’s next price measure, with potential scenarios pointing Haussearted and Bearian results.
Battle on 200 EMA: Dogecoin Price Goal $ 0.32
In a recently completed Dogecoin analysis as a tradingview -Crypto analyst identified as ‘Swallowacademy’ shared different Price forecasts for the DODE PRICEilluminates a haussearted $ 0.32 target and a baisse -like decline to $ 0.19. Divide one Video analysis Of his prediction revealed the analyst that Dogecoin price action On the daily time frame, a struggle indicates between buyers and sellers around 200 EMA.
Currently, Dogececoin at 200 EMA is testing at the price level of $ 0.26. This retest occurred after the MEME coin has closely back a broken zone between $ 0.20 and $ 0.21. While 200 EMA acts as a dynamic support level or resistance for Doge, its current position seems to hold back the price.
The TradingView expert also highlights the presence of a CME gap that is not yet filled. A successful violation of 200 EMA could trigger one sharp increase in purchase pressurePotentially inducing Meme coin price to reach new goals and fill this gap.
On the daily and hour -time frames, 200 EMA has adapted, which increases the probability of one Possible eruption from $ 0.26 level. If the bulls can accumulate enough speed to break this key support zone, the analyst projects a driving force to $ 0.327, which marks an increase of 21.1% in the Doge price.
The TradingView analyst has stated that traders should monitor the Dogecoin Prize before it reaches this target, suggesting a Take a profit zone on the daily time frame at $ 0.3.
Doge Bearish scenario: drop to lower levels?
TradingView Expert has been highlighted more complexity to his Dogecoin price analysis and has been highlighted Potentially baissealt scenario for dogecoin If it fails to break 200 EMA. The latest decline in the Doge price has triggered massive sales print. As a result, the analyst suggests that if Seller recovers dominance In the market and the MEME coin fails to keep the support zone, a decline to lower levels may occur.
He predicts that the Dogecoin price, which currently acts at $ 0.25, would fall to $ 0.19, which corresponds to a reduction of 25%. A decline to this level would be devastating for investors, as Dogecoin has already experienced Several price accidents In recent weeks. At the same time, it can also present a primary entry place for investors to buy low.
With the potential for both an upward and downward movement in the Doge Prize, the TradingView analyst advises trader to look at the market carefully and remain cautious when creating their entrance and exit strategies.
Image from Unsplash, chart from tradingview.com
