$DOGE #Write2Earn‬ Dogecoin Price Forecast: $0.15 Support Level Takes Center Stage

The current market activity for DOGE is displaying a convergence in the trend lines, where the short-term 9-day Exponential Moving Average (EMA) has dipped below the 26-day long-term EMA. Market analysts and investors often regard this event as a bearish indicator.

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The trend that has emerged subsequent to this EMA crossover is indicative of an increased momentum on the bearish side. This suggests that sellers are starting to dominate.

Should this downward trajectory maintain its course, it is plausible that the price of DOGE may approach and even test the established support level located at $0.15.

Further bearish pressure, should the $0.15 support fail to hold, may result in DOGE’s price descending to the next level of support, which stands around $0.12.



DOGE price and EMA Cross. Source: DexTools

Contrarily, a bullish DOGE scenario could emerge if it stays above $0.15, signaling active buyers and potentially reversing the downtrend. A more definitive bullish sign would be DOGE breaking the $0.1646 resistance. This could indicate a trend change and possibly start an uptrend, especially if trade volumes increase, making a case for a bullish reversal and aiming for a $0.1757 resistance challenge.

Remembering 2021, over 80% of DOGE addresses were profitable, yet its price continued to increase. Considering DOGE’s strong correlation to BTC and ETH movements, similar bull conditions could lead to a rally.

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