DOGE Price Analysis – December 25
The Dogecoin price may not be stopped as the bulls aim to push the coin above the channel to hit the resistance level of $0.200.
DOGE/USD Market
Key Levels:
Resistance levels: $0.22, $0.23, $0.24
Support levels: $0.16, $0.15, $0.14
DOGE/USD price is now trading close to $190 as it hovers around the $189 resistance level at the time of writing. The Dogecoin (DOGE) may continue to move upwards if the price crosses above the upper boundary of the channel. Meanwhile, DOGE/USD may touch the resistance level of $0.200 if the bulls focus on the upward trend.
Dogecoin Price Analysis: What to Expect from DOGE/USD
The Dogecoin price may remain at the positive side if the 9-day moving average crosses above the 21-day moving average. Therefore, the technical indicator Relative Strength Index (14) is seen moving above 50-level, otherwise, there is a higher chance that the coin may likely find the potential resistance levels at $0.22, $0.23, and $0.24. In other words, any bearish movement below the 9-day and 21-day moving averages may locate the critical supports at $0.16, $0.15, and $0.14 respectively.
DOGE/BTC Market: Price Remains above the Moving Averages
Against Bitcoin, DOGE price has been following the downtrend, the coin is currently hovering above the 9-day and 21-day moving averages. The nearest resistance level may surface above the upper boundary of the channel at 380 SAT and may then locate potential resistance level at 410 SAT and above if the buying-pressure becomes huge.
Meanwhile, on the downside, the Dogecoin pair could face the support at 350 SAT. Below the 9-day and 21-day moving averages lies the major support at 330 SAT and below. However, the cryptocurrency may begin to follow the sideways movement as the technical indicator Relative Strength Index (14) moves in the same direction. Therefore, if the signal line breaks below 50-level, traders can expect bearish pressure below the moving averages.
