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Taking a close look at the recent price movement in the Dogecoin market, one can easily see that bulls are still active in this market. And, now it appears as if buyers’ efforts are near materialization going by signs from technical indicators.
Dogecoin’s Forecast Statistics Data:
DOGE price: is $0.1251
Dogecoin’s market capitalization: $16.03 billion
DOGE circulating supply:  132.67 billion
Dogecoin overall supply: 132.67 billion
Dogecoin Coinmarketcap ranking: #8
Major Marks:
Resistance Marks: $0.1251, $0.1285, $0.1315
Support Marks: $0.1240, $0.1230, $0.1215
Dogecoin Price Prediction Today, November 7, 2022: DOGE/USD Isn’t Giving up the Fight
A close look at the DOGE/USD daily chart will reveal the appearance of a new bullish price candle which has moved the price level from below $0.1250 to above this level. In addition, price action still stays above the SMA curve on this chart and this implies an upward move in this market. Also, the Stochastic RSI while still above the 50% mark, is now giving a bullish crossover. Consequently, this signifies that we might be at the beginning of another lucrative upside Dogecoin price move towards and perhaps above the $0.1400 price level.
Dogecoin Price Prediction Today, November 7, 2022: DOGE/USD Isn’t Giving up the Fight
Moving on to the 4-hour DOGE/USD market, one will perceive that this market is maintaining its upside prospect. A significantly larger price candlestick has just formed, which is performing a similar function as that on the daily market. Subsequently, the price activity has now moved closer to the moving average line. Likewise, the RSI is also displaying a bullish crossover near the 33% level. Furthermore, this implies that price activity may very soon surpass the moving average line as earlier stated above.
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Azeez Mustapha is a technical analyst with many years trading experience in the stock exchange and crypto markets. He has broad experience in forex trading, coaching, and funds management. Azeez provides daily articles covering the price movements of major cryptocurrencies., and has contributed to a range of respected publications and trading magazines. Find his other published work on Learn2.trade, and CryptoSignals.org.
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