Analyst Eyes $0.162 For Dogecoin Price

Dogecoin (DOGE), a major meme cryptocurrency, has recently experienced a notable surge in value, sparking interest across trading platforms.

.162 For Dogecoin Price" >

Dogecoin (CRYPTO: DOGE) price surged on Monday evening amid a broader crypto rally. The meme cryptocurrency price showed strength over the past week, making it one of the top price gainers over the period.

An crypto analyst went on to share a post, indicating a potential buying opportunity for DOGE on the 4-hour chart. The analyst highlighted a buy signal using the TD Sequential indicator, suggesting a possible trend reversal.

“The TD Sequential indicator has flashed a buy signal on the #Dogecoin 4-hour chart! If $DOGE holds above the $0.141 support, we could see a rebound to $0.162,” the analyst wrote on Twitter.

Dogecoin Price Shows Strength: What's Next For Meme Coin? Over the past 24 hours, DOGE price showed significant upward momentum, rising by 8.28% to reach $0.1565 at the time of writing. The cryptocurrency began the day with a low of $0.1443 and climbed to a high of $0.1599, reflecting a substantial price increase over the 24 hours.

Over the past month, the meme coin has surged by more than 44%, showcasing a bullish trend.

A resurgence in bullish momentum could push the Dogecoin price prediction above the key $0.16 threshold, garnering further investor interest. If the coin breaches this resistance level, it may gain the strength to approach the $0.17 mark.

With sustained buying pressure, Dogecoin might witness an extended rally beyond the $0.2 level, marking a potential upward trend.

The Moving Average Convergence Divergence (MACD) indicator showed a minor bullish inclination. The MACD line remained slightly above the signal line. The Chaikin Money Flow (CMF), set at 20 periods, showed a reading of 0.26.

This positive value suggested capital inflow into DOGE, indicating that buyers were still active and supporting current prices.

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