14.5 C
Manchester
September 28, 2023
BTC Hunts
Image default
Bitcoin

Dogecoin Flashes Signals for Another Massive Spike Soon, Will DOGE Price hit $1 in 2022?

The post Dogecoin Flashes Signals for Another Massive Spike Soon, Will DOGE Price hit $1 in 2022? appeared first on Coinpedia Fintech News

The Dogecoin price has remained below $0.08 for more than two months after plummeting during the infamous market crash in May 2022. Nonetheless, after rising above $0.15, the price is sending out huge bullish signals for the rest of 2022, which could lead to a significant rally to half a dollar very soon. 

The DOGE price is expected to rise significantly in the coming days as it recovers from a significant retest. The price had previously broken through the pivotal resistance at $0.11 and risen close to $0.16. However, following a brief retest to $0.11 levels, the price has fairly recovered and is on its way to reclaiming the position. 

Source: Tradingview

A retest from here is expected to push the price towards the third target, which is currently at around $0.14837. However, the price may experience a slight pullback at these levels as the bears attempt to recoup their losses. However, the bulls may maintain their momentum and keep the price above $0.13. With a rebound, the price may continue to rise steadily towards the next target above $0.2. 

Meanwhile, the Elon effect on the DOGE price appears to have faded significantly. The claim is supported by a drop in trading volume from more than $1 billion to as low as $184.58 million. However, the bulls are expected to enter as the Dogecoin price approaches the lower support level, which may trigger a significant upswing very soon.

Related posts

Michael van de Poppe Marks Bullish and Bearish Case for Bitcoin as it Loses Critical Levels

David Bradley

 BTC, ETH, BNB, and DOGE Prices May Find their Bottoms in 2023! Is ‘Binance FUD’ the Final Capitulation Phase of 2022?

David Bradley

Analyst Issues Warning for Dogecoin and Shiba Inu – Here’s What Next For DOGE and SHIB Price

David Bradley