COINTURK NEWSCOINTURK NEWSCOINTURK NEWS
  • Real-Time News Feed
  • Bitcoin
  • Altcoin
  • Ethereum
  • Technology News
  • Advertise
  • Contact
  • TURTURTUR
  • ESESES
Search
© 2024 COINTURK NEWS. All Rights Reserved.
Reading: Understanding Dogecoin’s Volatile Ride: Analysis and Key Levels to Watch
Share
Languages
  • TürkçeTürkçe
  • EspañolEspañol
Font ResizerAa
COINTURK NEWSCOINTURK NEWS
Font ResizerAa
Search
  • Real-Time News Feed
  • Bitcoin
  • Altcoin
  • Ethereum
  • Technology News
  • Advertise
  • Contact
  • TURTURTUR
  • ESESES
Follow US
© 2025 BLOCKCHAIN Information Technologies. >> COINTURK NEWS
Powered by LK SOFTWARE
COINTURK NEWS > Dogecoin (DOGE) > Understanding Dogecoin’s Volatile Ride: Analysis and Key Levels to Watch
Dogecoin (DOGE)

Understanding Dogecoin’s Volatile Ride: Analysis and Key Levels to Watch

In Brief

  • Dogecoin’s (DOGE) price showed high volatility throughout November, influenced by the latest news in the cryptocurrency market regarding a spot Bitcoin ETF and legal issues impacting Binance. Despite noticeable sharp price movements on the daily time-frame chart, these fluctuations didn’t establish a definitive trend, indicating that control wasn’t firmly in the hands of bulls or […]
COINTURK NEWS
COINTURK NEWS 1 year ago
Share
SHARE

Dogecoin’s (DOGE) price showed high volatility throughout November, influenced by the latest news in the cryptocurrency market regarding a spot Bitcoin ETF and legal issues impacting Binance. Despite noticeable sharp price movements on the daily time-frame chart, these fluctuations didn’t establish a definitive trend, indicating that control wasn’t firmly in the hands of bulls or bears. Amidst this consolidation, Dogecoin is following a triangular formation and a newly formed ascending support trend line, potentially affecting its short-term trend.

Contents
Dogecoin Price AnalysisIs DOGE Ready for an Uptrend?

Dogecoin Price Analysis

The prominent memecoin Dogecoin has once again captured investors’ attention due to its involvement in a space program. Recent developments surrounding the coin include the deployment of the DOGE-1 Cubesat, part of SpaceX’s Nova-C/IM-1 satellite launch, which has been delayed for about two years. These updates show that the DOGE-1 lunar mission has received regulatory approval to commence on January 12, 2024.

Currently, DOGE’s price is trading at $0.08, gradually rising under the influence of a new support trend line. Despite increased uncertainty in November, the memecoin’s price has found support from this rising trend line multiple times, aiding buyers in maintaining a consistent rally.

As a result, the price is expected to increase by approximately 5% before encountering resistance at around $0.084 on the upper trend line of the long-standing triangular formation. Historical data suggest that retesting this trend line often increases downward momentum and leads to significant corrections, so investors need to be cautious at this point.

Therefore, a confirmed break below the aforementioned support trend line could increase selling pressure, leading to a potential 28% loss from the current price, causing Dogecoin to fall to a lower trend line.

Is DOGE Ready for an Uptrend?

DOGE’s price has been affected by a symmetrical triangle formation for about two years, moving in a sideways trend. If the coin’s price turns from the upper trend line as mentioned, it can be expected to continue moving sideways over the next month. Hence, for a more definitive recovery confirmation, buyers need to see the price break above the triangular formation.

The Relative Strength Index (RSI) slope on the daily time frame indicates that the bullish momentum in the altcoin is waning, and there’s a high possibility of price decline. Similarly, the relatively flat upper boundary of the Bollinger Bands (BB) indicator at $0.084 could serve as an additional barrier against buyers.

  • Dogecoin’s price shows continuous volatility.
  • Triangle formation could influence the short-term trend.
  • Breaks in support trend line may signal downturns.
You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

You Might Also Like

Whale Activity Surges as Dogecoin Records Massive Purchases

Dogecoin Attracts Attention with Promising Surge Signs

Dogecoin Forms Rare Diamond Bottom Pattern Hinting at Major Price Surge

Dive into Dogecoin’s Potential to Ignite an Altcoin Surge

21Shares Files Dogecoin Spot ETF Proposal with SEC

COINTURK NEWS 29 November, 2023 - 5:30 pm 29 November, 2023 - 5:30 pm
Share This Article
Facebook Twitter
Share
Previous Article Exploring the Rise of SEI Coin in the Cryptocurrency Market
Next Article SEC Gains Edge in Terra Lawsuit as Court Accepts Jump Crypto Discovery Documents
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Stay Connected

8.1k Like
21.1k Follow
1.1k Follow

Latest News

Altcoin Season Surges with Critical Signals Aligning for a Bull Run
Altcoin News
The GENIUS Act Defines New Limits for Stablecoin and Gives US Digital Finance a Boost
Cryptocurrency News
Méliuz Boosts Shareholder Value with Bold Bitcoin Purchase
Bitcoin (BTC)
Market Faces Volatility as Altcoins Unlock Billions
Altcoin News
//

COINTURK was launched in March 2014 by a group of technology enthusiasts who believe that Bitcoin will be as important as the internet in the world of the future thanks to the amazing technology underlying it.

CRYPTOCURRENCY LIVE PRICES

  • Bitcoin (BTC) Live Price
  • Ethereum (ETH) Live Price
  • Ripple (XRP) Live Price
  • Solana (SOL) Live Price
  • Dogecoin (DOGE) Live Price
  • Cardano (ADA) Live Price
  • Chainlink (LINK) Live Price

OUR PARTNERS

  • COINMARKETCAP
  • COINGECKO
  • BITCOINHABER
  • BH NEWS
  • 21MILYON
  • NEWSLINKER

OUR COMPANY

  • About Us
  • Cookie Policy
  • Advertising
  • Contact
COINTURK NEWSCOINTURK NEWS
Follow US
© 2025 BLOCKCHAIN Information Technologies. >> COINTURK NEWS
Powered by LK SOFTWARE
Welcome Back!

Sign in to your account

Lost your password?